Many Americans share the dream of starting their own small business. It can be overwhelming to figure out where the best place for a startup to thrive is. This infographic ranks the top 100 most populous metro areas in the United States by using the Small Business Index. The Small Business Index is composed of 10 key factors.
These factors include 1-year startup survival rate, 20-year survival survival rates, establishment births, establishment deaths, unemployed labor percentage, state corporate taxes, state employer unemployment tax rate, state unemployment insurance new employer rate, median rental costs, and minimum wage. Greensboro-High Point, North Carolina scores the highest on the index with 287.23.
In second place is Durham-Chapel Hill, North Carolina with a score of 277.36. In fact, many North Carolina cities dominate the top of the charts. Low taxes are a significant part of this small business advantage. Madison, Wisconsin is the best for survival, with only 1,096 establishments closing from 1989-2015.
infographic by: www.zenbusiness.com