NerdWallet, a personal finance website, recently conducted a study to find the best cities to start a business in the nation – and both Dallas and Fort Worth made the list.
Small business financing is on the rise, signaling renewed optimism among small business owners and an improving economy, according to Reuters. To determine the best cities to start a business, NerdWallet analyzed eight critical factors:
- C&I loans per capita
- Population growth
- Percentage of 25+ population with a bachelor’s degree or higher
- Per capita income
- Unemployment rate
- Businesses per 100 residents
- Small business grade
- Cost of Living Index
NerdWallet ranked Forth Worth and Dallas as the 14th and 15th best cities to start a business in the nation, respectively. Both cities received an ‘A’ small business grade from Thumbtack’s survey of small business owners. Fort Worth has 8.05 businesses per 100 residents while Dallas has 9.78.
“Dallas and Fort Worth are both excellent cities for aspiring business owners,” said NerdWallet analyst Sreekar Jasthi. “Local websites such as Launch DFW share startup news with the community and link entrepreneurs to resources like coworking centers and information on venture capital.”
Other cities primed for new businesses include Miami, Raleigh, and Denver. Read the full study online.
For more information about NerdWallet, visit www.nerdwallet.com.