Ready to start a small business? Charlotte just might be the best place for you.
To find the best and worst places to start a small business, LendingTree looked at nine metro- and state-based metrics. These included the proportion of self-employed residents in addition to unemployment rates. The study also included statistics of one-year business survival rates across the 100 largest U.S. metros by population.
As a whole, North Carolina offers the best places to start a small business. According to the study, Raleigh tops the list, with Charlotte ranking No. 3 and Durham ranking No. 4. 54.8% of Raleigh’s population is in their prime working years between ages 25 and 54, ninth-highest among the 100 metros. That means if you are living in North Carolina and always wanted to start a small business of your own, the odds are in your favor.
If you live in Texas, Austin was No. 2 on the list. According to Lending Tree, each of the Southern states outlined in the top 10 has a one-year business survival rate of at least 78%. This is the average across the 100 metros. In addition, each of the related metros ranks among the top 25 for the lowest unemployment rates. Way to go North Carolina!
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