New Survey Places City Near Bottom Of 150 Largest US Cities For Ease Of Starting Business
According to a new WalletHub report, Denver ranks near the bottom in terms of best US cities in which to start a business, coming in at 103 on the list of 150. The latest report, “2015’s Best Cities to Start a Business”, examines data from the 150 most-populated cities in the US and includes 13 metrics across the two dimensions “Access to Resources” and “Business Environment.” The metrics ranged from accessibility of financing, affordability of office space, and the availability of a qualified labor pool to corporate tax rates, length of the typical workday, and number of small businesses per capita. The data used in the report came from sources including the US Bureau of Labor Statistics, the US Census Bureau, the Federal Deposit Insurance Corporation, the Tax Foundation. The Chicago Sun-Times noted that Denver fell behind cities including Baltimore, Anchorage, and Phoenix in the rankings. Shreveport, LA was rated the best place for business, while the Newark-Jersey City, NJ area was rated the worst.
What This Means For Small Businesses
Denver’s small business owners are looking for positive indicators that the area’s economy is strong and the city is welcoming to entrepreneurs. However, data about the city’s small business climate is mixed. This latest WalletHub report is concerning because it pulls data from a wide variety of Federal government and private sources, and concludes that the Denver area isn’t particularly small business-friendly. However, no one survey can completely paint a picture of the city’s small business environment.
Additional Reading
NFIB previously covered positive small business rankings in Denver.
Note: this article is intended to keep small business owners up on the latest news. It does not necessarily represent the policy stances of NFIB.
