The 10 Best Cities to Start a BusinessA new report ranks the top cities for startups based on lending, business friendliness, hiring pool and local economy.
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A brilliant business idea means nothing if you can't get it off the ground. For aspiring entrepreneurs looking for ample funding and a fertile environment to strike out on their own, a newreportfrom personal finance websiteNerdWalletranks the 10 best cities tostart a businessin the U.S.
To gauge the health ofsmall-business lendingin each city, NerdWallet analyzed business loans made by community banks in 2012. The researchers also considered business friendliness and assessed the local economies based on the average income of residents, the unemployment rate and the cost of living. Education levels and population growth measured available talent.
Each with two cities on the list, Oklahoma and Texas are featured prominently. Offering affordable living and plenty of financing, the regions may be up-and-coming entrepreneurial hotbeds.
Related:The Best and Worst U.S. Cities to Launch a Business
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No. 10: Omaha, Neb.
Small-business lending in 2012:$51.9 million
Businesses per 100 residents:8.1
Average income:$26,113
Population growth rate:1.5 percent
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No. 9: Houston, Texas
Small-business lending in 2012:$250.5 million
Businesses per 100 residents:9.9
Average income:$26,849
Population growth rate:2.2 percent
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No. 8: Minneapolis, Minn.
Small-business lending in 2012:$52.6 million
Businesses per 100 residents:10.4
Average income:$30,693
Population growth rate:1.4 percent
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No. 7: Seattle, Wash.
Small-business lending in 2012:$41.1 million
Businesses per 100 residents:12.5
Average income:$41,695
Population growth rate:2 percent
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No. 6: Tampa, Fla.
Small-business lending in 2012:$79.2 million
Businesses per 100 residents:11.5
Average income:$28,863
Population growth rate:3.1 percent
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No. 5: Oklahoma City, Okla.
Small-business lending in 2012:$118.5 million
Businesses per 100 residents:10.3
Average income:$25,450
Population growth rate:2.1 percent
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No. 4: Tulsa, Okla.
Small-business lending in 2012:$125.5 million
Businesses per 100 residents:10.7
Average income:$26,727
Population growth rate:1.2 percent
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No. 3: Austin, Texas
Small-business lending in 2012:$28.4 million
Businesses per 100 residents:10.8
Average income:$31,170
Population growth rate:3.8 percent
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No. 2: Raleigh, N.C.
Small-business lending in 2012:$43.9 million
Businesses per 100 residents:10.5
Average income:$30,377
Population growth rate:3.1 percent
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No. 1: Atlanta, Ga.
Small-business lending in 2012:$62.2 million
Businesses per 100 residents:9.8
Average income:$35,884
Population growth rate:3 percent
