Does the size of your business location matters when it comes to starting up your own entrepreneurial dream? According to a study conducted by WalletHub, it depends upon preferences and different factors that go with it. Out of 1,261 cities in the U.S., WalletHub sifts the top 30 small cities which offer budding entrepreneurs an advantage in their affairs due to its favorable business climate.
Emerging as the top business-friendly city is Holland in Michigan as it has a stable above-average performing index in Business Environment, Access to Resources, and Business Costs ranking. Carbondale, Illinois follows in second, though it has the lowest labor costs. This Illinois city also has one of the shortest work weeks in contrast with Fort Hood, Texas, yet is among the highest average number of business growth.
Springville, Utah came in third, while East Chicago, Indiana ranks fourth in the most business-friendly city in the U.S. Jefferson City, Missouri makes it to the top five as the probability of the office market could strengthen up within the next few months, according to New Orleans City Business.
Meanwhile, other notable mentions include Bend and Redmond, Oregon as the cities with the most number of business startups - with 280 per year for every 100,000 residents. In contrast, Salisbury, Maryland has the least number of business startup, with only 30 per year in average.
Wellesley, Massachusetts seemed to view college degrees as important, as the city garners the most number of bachelor's degree in an 83.4 percent share of the population. Wasco in California, otherwise, has the lowest in number.
Anyone who is looking for an office space can go to Kentwood, Michigan because of its affordable rate. Mountain View in California, however, might be a little too pricey for small business startups. Cost of living is affordable in Pharr, Texas which is ideal for small businesses, but in Palo Alto, California, it will be challenging.
For more information, walletHub's study can be found here.