New research has revealed the best small U.S. cities to start a business, with three Florida cities making it on the top 30 list.
According to WalletHub, which compared the business-friendliness of more than 1,200 small cities, Fort Myers is ranked no. 10 on the top 20 list, while Dania Beach ranked no. 25 and Boca Raton ranking no. 28. Meanwhile, Davie and Miami Beach both made it to the top five list with the most startups per capita.
The research considered 18 key metrics ranging from average growth in the number of small business to investor access to labor costs. While many would believe large urban cities such as New York City would be best for starting a business, this is not always the case, says WalletHub.
“Bigger is not always better. A city with a small population can offer a greater chance of success, depending on an entrepreneur’s type of business and personal preferences,” the report states.
“Every small city offers unique advantages and disadvantages to new business owners. Some benefits include overhead costs, strong relationships with customers and the potential to become a big fish in a little pond.”
However, there are some disadvantages as well. For example, entrepreneurs who want to build a large professional network would have a harder time making connections in a small town.
“Other restrictions might include limited industry options, less diverse customer base and difficulty attracting and keeping top talent.” See where your city ranks in the interactive image above.