We recently highlighted the best states to start a small business and the states that are least expensive to start a business. was given.
To determine the best small city to start your business, WalletHub comparison Ease of doing business in over 1,300 small cities. Their metrics range from average growth in small business numbers to investor access to labor costs.
So what are the 10 best small cities to start a business in? Look no further than Utah, where 5 different cities rank high.
10 Best Small Cities to Start a Business
- Washington, Utah
- St. George, Utah
- Cedar City, Utah
- bozeman, montana
- Logan, Utah
- South Bradenton, Florida
- Post Falls, Idaho
- Fort Myers, Florida
- Lehi, Utah
- Morrisville, North Carolina
How did Utah rank? “It may be because of Utah’s excellent economy.” According to KTVX Salt Lake City“U.S. News recently rated Utah as having the best economy in the nation and third best overall state.”
Why choose a small city to start your business? According to Lauren Smith, Visiting Assistant Professor of Management and Marketing at the University of Susquehanna, here are the pros and cons.
- Nearly all costs are reduced (potentially more entrepreneurial risk).
- On average, employee retention is higher in smaller cities.
- Less industry competition.
- Community ties tend to be tight-knit.
- Costs can be lower, but resources can be more difficult to come by
- Depending on the industry, it may not be possible to attract excellent human resources.
- The customer’s market size will inevitably become smaller.
Eligible cities have populations between 25,000 and 100,000. “City” refers to the city itself and excludes the surrounding metropolitan area.
sun take away
The ubiquitous utility of the Internet means you can fulfill your entrepreneurial dreams almost anywhere, regardless of start-up costs. But if you live in Utah or Florida, it might be a little cheaper.