Launching a business is an exciting venture, but where you choose to establish yourself can significantly impact the success of your operation. If you’re looking for robust infrastructure, access to diverse talent pools, and expansive customer bases, you’ll want to consider the best large cities to start a business.
WalletHub, a personal-finance website known for data-driven insights, recently conducted an in-depth analysis to uncover the best cities for small business success in the United States. Their findings reveal the top locations to help entrepreneurs thrive, based on key metrics such as business environment, cost of living, and access to resources.
Below, we highlight the top 10 large cities for entrepreneurs, according to WalletHub.
What makes a city ideal for entrepreneurs?
WalletHub assessed 100 cities based on 19 metrics across three main categories to establish their rankings:
- Business Environment (e.g., startup activity, size of industries, and job growth)
- Access to Resources (e.g., access to financing, prevalence of investors, and availability of an educated workforce)
- Business Costs (e.g., affordable office rent, labor expenses, and cost of living)
These factors were combined to give each city a composite score, providing entrepreneurs with a detailed view of where large cities provide an optimal setting for businesses to succeed.
The 10 Best Large Cities to Start a Business
1. Orlando, Florida
Orlando secures the top spot thanks to its fast-growing small business sector and high startup survival rates. It boasts a robust number of investors per capita and enjoys a rapidly growing working-age population, providing a continuously expanding labor pool.
- Why it stands out:
- High startup growth rate
- Excellent access to investors and capital
2. Tampa, Florida
Known for its low corporate tax rates and high level of investor activity, Tampa fosters a strong entrepreneurial ecosystem. The city ranks highly on the Entrepreneurial Activity Index, demonstrating a healthy startup culture and strong business survival rates.
Why it stands out:
- Low taxes that allow businesses to retain more revenue
- A business-friendly economic environment supported by an active investor community
3. Austin, Texas
Austin continues to shine as a top destination for startups, thanks to its vibrant tech scene and access to venture capital. With a well-educated population and a strong rate of small business growth, the city provides an exceptional environment for entrepreneurs.
Why it stands out:
- High levels of venture investment per capita
- A highly educated and skilled workforce
4. Jacksonville, Florida
Jacksonville earns its ranking with affordable business costs and consistent job growth. Its low labor costs combine with favorable corporate tax rates, making it an attractive destination for businesses seeking to optimize profitability.
Why it stands out:
- Affordable business operations
- Expanding business opportunities supported by steady job growth
5. Miami, Florida
Miami is a hub for both cultural and business innovation. Its dynamic business ecosystem, coupled with its connectivity to international markets, makes it an ideal location for entrepreneurs looking to venture into global industries.
Why it stands out:
- High ranking in startup activity metrics
- Strategic geographic location for international business
6. St. Petersburg, Florida
This city benefits from a bustling downtown area, coupled with innovation-oriented infrastructure. Small businesses thrive here, thanks to its relatively low costs and supportive community-focused policies.
Why it stands out:
- Vibrant cultural and business scene
- Collaborative environment for entrepreneurs
7. Boise, Idaho
Boise combines affordability with opportunity. It has experienced a significant increase in small business growth, while maintaining a supportive, community-focused entrepreneurial climate.
Why it stands out:
- Strong growth in small business startups
- Affordable living and operational costs
8. Atlanta, Georgia
Atlanta is a top-tier city with a rich cultural and economic landscape. Entrepreneurs benefit from its highly ranked resource accessibility, with numerous investors and funding opportunities available.
Why it stands out:
- Notable access to venture investment
- Rapidly expanding local economy
9. Raleigh, North Carolina
With a young, well-educated workforce and relatively low business startup costs, Raleigh is increasingly becoming a go-to destination for business founders. Its focus on innovation, particularly in tech, has created a thriving ecosystem for startups.
Why it stands out:
- Growing reputation as a tech innovation hub
- Accessible financing and educated workforce
10. Hialeah, Florida
Hialeah rounds out the top 10 thanks to its strategic location and competitive tax environment. Its proximity to Miami offers ample market opportunities while ensuring businesses save on operational costs.
Why it stands out:
- Affordable business costs
- Strategic location supporting regional trade and logistics
Where does your city rank?
If you’re considering where to establish or grow your small business, the details unveiled in WalletHub’s analysis can provide essential guidance. Read WalletHub’s full report to see how your city ranks and discover actionable insights on choosing the ideal location for your entrepreneurial vision.
