Holland, Michigan, has been rated as the best small town to start a business for the second year in a row by WalletHub. This city has a population of about 33,000 people and is on the western side of the state.
WalletHhub.com, an online credit ranking and consumer finance website, ranks over 1,250 small cities across the nation. Alongside Holland, there are 2018 other Michigan cities ranked in the top 500. Only cities with 25,000 to 100,000 residents were considered in the study, according to Patch.com.
There were three dimensions that WalletHhub used in its ranking: the business environment, access to resources, and business costs. According to Patch, Holland did not score high for its business environment, which it only ranked 318. It did well in access to resources with a No. 3 ranking, and a No. 42 ranking in the business costs. According to Michigan Live, Holland had a score of 60.62, which is more than 10 points higher than its 2017 score.
Some other Michigan cities in the top 500 are Kentwood at No. 35, Wyoming at No. 55, Southfield at No. 88, Mount Pleasant at No. 106, Dearborn at No. 150, Bay City at No. 182, Portage at No. 274, Allen Park at No. 283, Kalamazoo at No. 286, and Eastpointe at No. 312.
Kentwood was ranked as the best place in America to purchase office space for the second year in a row. Kentwood and Wyoming are also among a group of small cities that have the highest average growth in a number of small businesses.