This week, WalletHub released its report on 2022’s Best Large Cities to Start a Business and two cities from the Sunshine State lead the list.
In order to help aspiring entrepreneurs maximize their chances for long-term prosperity, WalletHub compared 100 U.S. cities across 20 key indicators of startup viability. The data set ranges from the five-year business-survival rate to the percentage of residents who are vaccinated to office-space affordability.
“Americans are born with an entrepreneurial streak. It’s in our DNA. From the Gold Rush to the Industrial Revolution to the Internet Age, intense periods of innovation have molded our economy and sparked important societal advancements. That said, the past few years have been one of the toughest times ever for business owners in the U.S. due to the COVID-19 pandemic. Conditions in the U.S. are improving now that the country has mostly reopened and many people have gotten vaccinated, but many business owners are having trouble finding new employees,” Wallet Hub noted.
“In order to help aspiring entrepreneurs — from restaurant owners to high-tech movers and shakers — maximize their chances for long-term prosperity in the wake of the COVID-19 pandemic, WalletHub compared the relative startup opportunities that exist in 100 U.S. cities. We did so using 20 key metrics, ranging from the five-year business-survival rate to the percentage of residents who are vaccinated to office-space affordability,” WalletHub added.
Five cities from the Sunshine State placed in the top 20. Orlando was ranked as the best large city to start a business in the nation with Miami right behind it in second place. Jacksonville placed seventh on the list while Tampa took tenth. Hialeah stood in 16th place and St. Petersburg was 17th.
“Miami and Hialeah, Florida, have the most startups per 100,000 residents, 248.31,” WalletHub noted.