The 2012 study of the best cities for small business growth conducted by Biz2Credit revealed that New York is the best city for small business growth.
Biz2Credit examined cities across the country with small business data, including annual earnings, credit scores, and uptime. It was then analyzed with BizAnalyzer of the company by factoring in cash flow, debt ratio, taxes and other information to determine the best cities.
The top 25 cities are all large cities, giving small businesses access to a large population and a diversified economy, providing more opportunities for growth. Biz2Credit CEO Rohit Arora, who oversaw the research, addressed this point in the report.
He explains, "It is in New York that small businesses make the most money, and New York companies far exceed businesses based in the United States. other regions in terms of annual revenue. The city has a diversified economy, and the areas in which it is strong – finance, IT, travel and tourism, real estate and construction – thrive. "
The study focused on nearly 30,000 companies with fewer than 250 employees, representing an annual business turnover of less than $ 10 million and more than a year's worth of business. 39; operation.
2018 Best Cities for Small Business Growth
New York retained its first place in 2017 to stay ahead in 2018. According to Arora, the city's thriving technology industry is also boosting growth in other sectors, including fashion, catering and the hotel industry.
It also helps New York be an iconic city that attracts global talent in all industries.
Looking at the top 10, California is the leader in states with the most cities on the list. The Golden State had six cities in the top 10, capturing places No. 2, 4, 5, 6, 9 and 10 with San Jose, San Francisco, Los Angeles, Riverside-San Bernardino, San Diego and Sacramento.
Miami-Fort Lauderdale, Florida; Washington DC; and Austin, Texas, obtained the first 10 positions remaining respectively at numbers 3, 7 and 8.
Here are the top 25 cities for small business growth in 2018, with the results for 2017 in parentheses:
- New York, NY (No. 1)
- San Jose, CA (No. 4)
- Miami-Fort Lauderdale, FL (No. 2)
- San Francisco, CA (No. 8)
- Los Angeles, CA (No. 5)
- Riverside-San Bernardino, CA (No. 10)
- Washington, DC (No. 16)
- Austin, TX (No. 3)
- San Diego, CA (# 14)
- Sacramento, CA (No. 18)
- Phoenix, AZ (No. 7)
- Chicago, IL (No. 19)
- Dallas-Fort Worth, TX (No. 13)
- Seattle, WA (No. 6)
- Atlanta, GA (No. 20)
- Baltimore, MD (No. 12)
- Denver, CO (No. 17)
- Las Vegas, NV (No. 23)
- San Antonio, TX (No. 21)
- Detroit, MI (No. 15)
- Houston, TX (No. 11)
- Philadelphia, PA (No. 24)
- Portland, OR (No. 11)
- Charlotte, North Carolina (No. 22)
- Kansas City, MO
Top 10 Underground Sites by Annual Income
Again, New York tops the list with $ 1,016,446. Positions # 2 and # 3 were reversed from the list of top cities, with Miami-Fort Lauderdale, FL arriving at # 2 with an average of $ 854,540 and San Jose, CA at # 3 with $ 748,529.
Here is the list of the 10 best annual incomes:
- New York, NY, $ 1,016,446
- Miami-Fort Lauderdale, FL, $ 854,540
- San Jose, California, $ 748,529
- Baltimore, MD, $ 726,707
- Riverside, California, $ 725,713
- Dallas, Texas, $ 685,531
- Los Angeles, CA, $ 674,543
- San Francisco, California, $ 657,216
- Chicago, Illinois, $ 620,036
- Sacramento, California, $ 587,682
Age of companies
The age of small businesses in a city also indicates those with the greatest growth start-up. When it comes to cities with the youngest companies on average, Portland, OR and Las Vegas, NV were tied with 44 months each. Atlanta (Georgia), Denver (Colorado) and Philadelphia (Pennsylvania) complete the top five cities with average ages of 47, 48 and 51 months.
- Portland, OR, 44 months
- Las Vegas, NV, 44 months
- Atlanta, GA, 47 months old
- Denver, CO, 48 months
- Philadelphia, Pennsylvania, 51 months
- Austin, TX, 51 months
- Charlotte, North Carolina, 52 months
- San Antonio, TX, 52 months
- Houston, TX, 55 months
- Dallas, TX, 55 months
Once sorted by average credit score in each city, California dominated the list with five cities. San Jose came in first at 654, followed by New York at 639 and Riverside, California third at 638.
San Francisco and Miami-Ft. Lauderdale were No. 4 and 5 respectively with scores of 633 and 631.
Top 10 cities listed by credit rating
- San Jose, CA, Score: 654
- New York, NY, 639th
- Riverside, California, 638
- San Francisco, CA, 633rd
- Miami-Ft. Lauderdale, 631
- Los Angeles, California, 631
- Washington, DC, 627
- Las Vegas, NV, 623
- Sacramento, California, 623
- Atlanta, GA, 616th
You can look at Biz2Credit infographic below to get more info.