The past few years have been particularly difficult for business owners in the United States due to the COVID-19 pandemic, inflation, and other economic factors that stand in the way of entrepreneurs. Given this panorama, Wallet Hub has prepared a study in which they establish the best cities to start a business in the United States and four cities in Florida are at the top of the ranking.
WalletHub, a personal finance company with extensive reports on American consumption and behavior, compared business opportunities in 100 cities based on three key aspects: business environment, access to resources and the cost. Within these categories, 19 measures rate cities.
The list is led by Orlando and followed by Jacksonville, Miami and Tampa, all located in Florida.
In the case of Miami, which ranks third overall, the study highlights that it is first in one of the key categories: business environment, and that it is also first in some of the measures assessed, such as average business revenue growth and number of startups. per person. A startup is an emerging company, which optimizes its operation through the use of new technologies, with a great capacity for change and a high level of innovation.
In the resource access categories, Miami ranks 58th and in the costs of starting a business, it ranks 47th.
From South Florida, another city that appears on the list is Hialeah, which ranks 22nd.
The top 10 cities considered the best to start a business are:
1.- Orlando, Florida
2.- Jacksonville, Florida
3.- Miami, Florida
4.- Tampa, Florida
5.- Durham, North Carolina
6.- Boise, ID
8.- Charlotte, North Carolina
9.- Fort Worth, Texas
10.- Austin, TX
Keys to entrepreneurship
The study quotes a few experts who give their opinion on the aspects to consider when starting a business.
“Do your homework, do your research. Make sure that your business idea meets the needs and that you don’t lose sight of reality. An idea by itself doesn’t automatically mean it’s a market opportunity,” says Michael Omansky, associate professor at Felician University.
He adds that when starting a business, you need to have a plan to provide or secure financing. “For most ideas, you have to find a way to generate sales if you want to attract potential investors. Partner with people who complement your personal skills and can help you,” he adds.
Another perspective is offered by Kathryn Elliott, professor and director of the Center for Entrepreneurship at High Point University.
“Be brave and objective. If you can’t be open to advice and suggestions, you risk missing out on valuable advice and it could spell success or failure. Don’t be afraid to be different, be confident. Courage is one of the most exciting things I find working with young entrepreneurs, they channel their enthusiasm. They see opportunities, not obstacles,” Elliott points out in the Wallet Hub study.