You can start a company virtually anywhere, but certain areas may be better suited to your long-term prospects. AllSmallBusiness.com reviewed 100 cities in the United States and compared them based on three categories: business environment, access to resources, and cost of doing business.
5 Top Cities to Start a Business
- New York City, NY
- Oklahoma City, OK
- Miami, FL
- Austin, TX
- San Diego, CA
5 Top States to Start a Business
- New York, NY
- Florida, FL
- New Jersey, NJ
- Delaware, DE
- Texas, TX
The third city on the list, Miami, Florida, is home to the most startups per 100,000 people (234.72), which is 3.2 times more than Winston-Salem, North Carolina, which has the fewest at 74.40 per 100,000 inhabitants.
The average price of office space in San Francisco reached $80.22 per square foot last year, whereas the lowest annual average rent was recorded in Toledo, Ohio, at $11.93 per square foot.
The most accessible financing can be found in Lincoln, Nebraska, while the least accessible finance is available in San Bernardino, California. Detroit, Michigan, has the lowest labor costs with a median annual income of $27,838 and is 4.4 times lower than Fremont, California’s $122,191 per year.
Incorporating a business in different states would give you different advantages and disadvantages.
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