Best Cities to Start a Business
Americans are born with an entrepreneurial streak. It’s in our DNA. From Manifest Destiny and the Gold Rush to the Industrial Revolution and the Internet Age, intense periods of innovation have molded our economy and sparked important societal advancements.
Innovation is never easy, though. Hardship and necessity underpin much of our entrepreneurial progress, largely because the motivation to enter the unknown in the face of bleak odds simply is not in abundance when more comfortable avenues remain to be explored. Driven by a dearth of traditional job opportunities and a reenergized hesitancy to put one’s fate in the hands of others, somewhere between 15 million and 53 million Americans are now working for themselves. There is always room in the market for new ideas, products, services and multi-million-dollar success stories — if one knows where to look.
In order to help aspiring entrepreneurs — from restaurant owners to high-tech movers and shakers — maximize their chances for long-term prosperity, WalletHub analyzed the relative start-up opportunities that exist in the 150 most populated U.S. cities. We did so using 13 unique metrics, ranging from 5-year survival rate and the affordability of office space to the educational attainment of the local labor force. Our findings, as well as expert commentary and a detailed methodology, can be found below.
John Bradley Jackson, director of the Center for Entrepreneurship at Cal State Fullerton, was a featured expert about entrepreneurship in this article.