North Texas was named among the top 5 metro areas in the nation for entrepreneurs in a Fit Small Business study.
Fit Small Business, an online publication dedicated to providing information to help small business owners throughout the U.S., recently announced its latest report: a list of the 15 Most Entrepreneurial Cities for 2018. Dallas-Fort Worth-Arlington came in at No. 4 on the list, ranked behind Miami-Fort Lauderdale-Pompano Beach (1), New York-Northern New Jersey-Long Island (2), and Los Angeles-Long Beach-Santa Ana (3).
The website’s research team analyzed the nation’s 40 largest metro areas, and compiled data from the U.S. Census Bureau, Kauffman Foundation, and National Venture Capital Association to narrow down its list to the top 15 areas.
The metro areas were ranked based on the following criteria:
- Startup density
- Rate of new entrepreneurs
- Opportunity share of new entrepreneurs
- Venture capital investment in the city
- Tax friendliness to small businesses
- Business as the primary source of income for local entrepreneurs
- Infrastructure and pollution
- Annual payroll
- Number of firms with paid employees
- Number of nonemployer firms
“Texas stands out with three metropolitan areas very high on the list.”
Dallas-Fort Worth-Arlington was the most tax-friendly out of the 15 metro areas, and it ranked seventh in startup density. The metro area also scored highly in the opportunity share of new entrepreneurs category with about 85 out of 100 businesses driven by opportunity rather than necessity.
Texas fared well on the list with three districts in the top 10. Houston-Sugarland-Bayton placed No. 5 on the list while Austin-Round Rock-San Marcus came in at No. 9.
“Texas stands out with three metropolitan areas very high on the list, and the East and West Coasts are amply represented. Also, while big cities like New York and L.A. rank high, smaller cities like Orlando and Denver make the Top 15. This shows us that there are areas in the country which will boost your chances of success opening a small business if you take the time to do your research,” said Fit Small Business Editor-in-Chief Eric Noe in a release.
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