WalletHub Releases It's Top 10 Picks for Best Cities to Start a Business

Every year, personal finance web site, WalletHub, releases it's choices for the top 10 best cities for entrepreneurs to start their own business. They review the 150 most populated cities in America and evaluate them on local business environment, resources, and costs. They just released their new list for 2016.

WalletHub's 2016 top 10 cities to start a business

1. Sioux Falls, South Dakota
2. Grand Rapids, Michigan
3. Oklahoma City
4. Lincoln, Nebraska
5. St. Louis, Missouri
6. Salt Lake City, Utah
7. Charlotte, North Carolina
8. Springfield, Missouri
9. Tulsa, Oklahoma
10. Amarillo, Texas

How to view the list

The list has 4 category rankings: Overall Score, Business Environment, Access to Resources, and Costs. For an entrepreneur looking for a city to start their own business, each category should be reviewed carefully. Why?

For example, if cost is an entrepreneur's number one concern, Springfield, Missouri is ranked number 1, but their overall rank is number 8 and business environment ranks 90. The city with the number 1 best business environment, on the other hand, is Huntington Beach, California, but the downside is cost; the city is ranked 144 in best cost.

The purpose of the annual ranking is to combine all these factors to provide a ranking list of U.S. cities which provide the overall best opportunity for entrepreneurs to maximize their chances for long-term prosperity.

Read more at wallethub.com/edu/best-cities-to-start-a-business/2281/