Colorado is home to three of the top 100 best small cities to start a business according to a new survey from WalletHub. The website’s “2017’s Best & Worst Small Cities to Start a Business” survey looked at 1,261 cities around the country with a population between 25,000 and 100,000. Each city was then ranked on three major levels: business environment, access to resources, and business costs.
Littleton is the top small city in Colorado to start a small business, coming in at 64th, while Loveland was ranked 85, and Commerce City came in at 97th. Each of these cities excelled in the category of business environment, which included the subcategories of: average length of work week, average growth in number of small businesses, number of startups per capita, average revenue per business, average growth of business revenues, and industry variety.
Industry variety could be a key decision if future small business owners are thinking of starting in Colorado, as Longmont (141 overall) and Lafayette (221 overall) are tied for second for cities with the most startups per capita. According to WalletHub, the cities in the top spot have nine times more startups per capita than the city at the bottom.