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Best Places to Start a Business

By Molly Zilli, Esq. | Last updated on

There are a lot of things to consider when you're starting a business. How will you cover the startup costs? Will your title be "CEO" or "grand master?" How snazzy can your business cards be? And while you may hope to start your business right where you live, you might want to consider moving to a more business-friendly city with lower startup costs and more resources. Cities in Oklahoma, Texas, and North Carolina -- among others -- might be calling your [business] name.

A Big Cities Study

According to financial website, WalletHub, not all locales are created equal when it comes to starting a business. WalletHub compared 182 cities using 19 relevant metrics with regard to three criteria:

  • Business Environment
  • Access to Resources
  • Business Costs

The study found that the south and middle America were the winners as best places to start a business, with Oklahoma City being the best, and cities in North Carolina claiming three out of the top ten spots. The north, and east and west coasts, on the other hand, seem to be a bit less startup-friendly.

The Top Ten

According to WalletHub, these locations top the charts as the ten best places to start a business:

  1. Oklahoma City, Oklahoma
  2. Austin, Texas
  3. Sioux Falls, South Dakota
  4. Missoula, Montana
  5. Durham, North Carolina
  6. Bismarck, North Dakota
  7. Cheyenne, Wyoming
  8. Billings, Montana
  9. Charlotte, North Carolina
  10. Raleigh, North Carolina

Other Notables

Other awards handed out include the following notables:

  • Worst Place to Start a Business: Warwick, Rhode Island
  • Cheapest Office Spaces: Lewiston, Maine
  • Most Expensive Office Spaces: three-way tie between San Francisco, New York, and Washington D.C.
  • Most Educated Population: Irvine, California
  • Least Educated Population: San Bernardino, California
  • Shortest Average Work Week: Burlington, Vermont
  • Longest Average Work Week: Anchorage, Alaska

Between securing your financing, complying with state and local laws and regulations, and a whole host of other factors, starting a business can seem like a daunting endeavor. But it can also be immensely rewarding. If you're thinking of starting a business, contact an experienced business attorney who can guide you in the process.

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