Small Business start-up best cities to get your start buying or selling your business Boston MA

Posted on Posted in Buying/Selling Business Advise

 

Source: WalletHub

Size matters when choosing a city in which to launch a startup. As many veteran entrepreneurs — and failed start-ups Small cities to boost your small business start up  — understand well, bigger is not always better. A city with a smaller population can offer a greater chance of success, depending on an entrepreneur’s type of business and personal preferences.small business, business broker Vincent Murphy, business-friendliness

Every small city offers unique advantages and disadvantages to prospective ventures. Lower overhead costs, stronger relationships with customers and the potential to become a big fish in a little pond are among the benefits. But the drawbacks come plenty as well. For one, entrepreneurs seeking to cultivate a large professional network aren’t likely to fill their roster in a town with fewer residents. Other restrictions might include limited industry options, a less diverse customer base, and difficulty attracting and retaining top talent.

WalletHub’s analysts, therefore, compared the business-friendliness of 1,261 small-sized cities to determine the best overall for launching an enterprise. Our data set of 16 key metrics ranges from average growth in a number of small businesses to investor access to labor costs. Read on for our findings, expert business insight and a full description of our methodology.

 

Main Findings

small business, business broker Vincent Murphy, business-friendliness

Overall Rank City Total Score ‘Business Environment’ Rank ‘Access to Resources’ Rank ‘Business Costs’ Rank
724 Alexandria, LA 38.05 1030 453 453
984 Calexico, CA 35.7 1200 271 681
989 Lexington, MA 35.62 66 93 1225

Artwork-2017 Best Small Cities to Start a Business-v1

Ask the Experts business broker Vincent, Murphy

The lack of expert guidance is a common problem for entrepreneurs that could lead to failure even before a business takes off. For insight into starting a business in a small city and advice on overcoming the challenges they pose, we turned to a panel of experts for their thoughts on the following key questions:

  1. What are the pros and cons of starting a business in a small city?small business, business broker Vincent Murphy, business-friendliness
  2. Would some types of small businesses (e.g., a retail store, restaurant, or tech startup) do better than others in a smaller city?
  3. What tips do you have for an entrepreneur starting a business in a small city?
  4. What impact do you think the Trump administration’s proposed policies will have on entrepreneurs?
  5. What can local authorities do to encourage entrepreneurial activity in their small city?

Source: WalletHub

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