Guide

Best cities to start your own business

Digidreamgrafix | Getty Images

Starting a business can be tough no matter where you are, but a study by WalletHub finds the cities where it can be a little easier. The study used 13 metrics to rank 150 American cities including the cost of living, affordability of office space and educational attainment of the local labor force. Check out the top 10 here.

10. Columbus, Georgia

Denis Jr. Tangney | Getty Images

"The average workday lasts well over eight hours in Columbus — an entrepreneur's dream come true," said WalletHub spokesperson Jill Gonzalez in a 2015 interview.

9. Greensboro, North Carolina

Denis Tangney Jr. | Getty Images

This city has both a low cost of living and a high workforce education level. That means it has a lot of people with a bachelor's degree or higher.

8. Augusta, Georgia

Source: Caveman80 | Flickr | Wikipedia

This other Georgia city is affordable and has room for a lot more small businesses.

7. Memphis, Tennessee

Revellers outside BB King's Blues Club on Beale Street in Memphis, Tennessee where open containers of alcohol in the entertainment district is permitted.
Getty Images

"The local cost of living in Memphis is the fourth-lowest out of the 150 cities we looked at," said Gonzalez.

6. Sioux Falls, South Dakota

South Dakota
Rich Murphy | Sioux Falls Convention & Visitors Bureau

The study found that office rentals are cheaper here. Plus, the state has recently shown a boom in entrepreneurial activity.

5. Jackson, Mississippi

Jackson, Mississippi.
Denis Jr. Tangney | Getty Images

Jackson's median income is about $30,800. This is good news for entrepreneurs looking for employees.

4. Chattanooga, Tennessee

On the waterfront: Market Street Bridge and the Tennessee Aquarium
Image Source: Grant Dotson | Dotson Studios

"Chattanooga has some of the best access financing, which we measured by comparing small business loans to total number of businesses," said Gonzalez.

3. Springfield, Missouri

Source: Joelfun | WIkipedia

This city is generous when it comes to small business loans and has low corporate taxes.

2. Tulsa, Oklahoma

Walter Bibikow | Getty Images

"Tulsa ranked No. 1 in industry variety, which propelled them to the top of the list," said Gonzalez.

1. Shreveport, Louisiana

Shreveport, Louisiana
McFarlandPhoto | Getty Images

"At an average of $12.50 per square foot, Shreveport's low cost for office space combined with its high availability of employees earns it the top spot," said Gonzalez.

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