Cities of the triangle, Charlotte named one of the best places to start a small business
Have you been bitten by the entrepreneurship bug and are looking for a place to start a small business? The North Carolina Research Triangle is a great place to start your research.
Raleigh tops LendingTree’s list of the best places to start a small business. Durham fell not far behind in fourth, while Charlotte, although not located in the Triangle, placed third.
To make the rankings, LendingTree analysts compared nine metrics across the 100 most populous metropolitan areas in the United States to identify the best places to start a small business, categorizing them into three different categories which they then averaged to produce a final score.
The parameters included the unemployment rate, the proportion of residents with at least a bachelor’s degree, the proportion of residents in what are considered to be the “privileged working years” (between 25 and 54) and the proportion of independent residents. .
With more than half of its population in their prime, the city’s highly educated population – 48% of residents have at least a bachelor’s degree, according to LendingTree – and a low unemployment rate of 3.8% as of today. of August 2021 contributed to its high ranking.
In a similar study by WalletHub, Charlotte and Raleigh fared slightly worse, receiving the # 6 and # 7 rankings. Durham, on the other hand, ranked slightly better in the WalletHub study in second place. Southern cities topped the top 15, winning all but two places.
Cities similarly ranked on the LendingTree list included Austin, Texas (# 2), Boise, Idaho (# 5), Portland, Oregon (# 7), and Salt Lake City, Utah (# 8).
The Piedmont Triad was also well represented on this list, with Winston-Salem and Greensboro receiving ranks 39 and 48 respectively.
North Carolina’s strong presence on this list can be explained at least in part by the state’s favorable fiscal climate, with the state having one of lowest maximum corporate tax rate in the USA
On the west coast, the California metropolitan areas of Bakersfield (No. 100), Stockton (No. 99) and Fresno (No. 98) were among the three worst places to start a small business, mainly due to high unemployment rates. , housing costs and bad tax climates.
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