The decision on where to start a business in the U.S. can be a determining factor in a startup’s success given how greatly locales can differ when it comes to regulations, taxes and other factors.
WalletHub conducted a recent study ranking the nation’s major metros on 19 metrics to determine how they stack up and which are the best big cities to start a business in 2023.
Florida cities dominated the top of the list, and Orlando took the crown with a score of 65.34 on WalletHub’s scale, thanks to its business-friendly environment, ample access to resources and low startup costs.
No. 2 Jacksonville was not far behind with a score of 62.25, followed by No. 3 Miami (60.78) and No. 4 Tampa (60.37).
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Durham, North Carolina, notched a score of 60.15, coming in at No. 5 overall. Although the city was ranked #38 for its business environment, its ample access to resources pushed it up the scale.
Idaho’s capital Boise landed sixth on the list with a score of 59.79. Although the city ranked lowered on access to resources, its business environment was determined to be the third best in the U.S.
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Atlanta, Georgia, was able to grab the No. 7 spot in the ranking, notching a total score of 58.79, followed by No. 8 Charlotte, North Carolina, which scored 58.3.
Two Texas cities rounded out the top 10, with Forth Worth scoring an even 58, and Austin notching 56.86 thanks to their friendly business environments.
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That’s despite both ranking further down the list when it came to business costs at 69th and 81st, respectively.
Here’s WalletHub’s top 10 list of large US cities to start a business in 2023:
1. Orlando, Florida – 65.34
2. Jacksonville, Florida – 62.25
3. Miami, Florida – 60.78
4. Tampa, Florida – 60.37
5. Durham, North Carolina – 60.15
6. Boise, Idaho – 59.48
7. Atlanta, Georgia – 58.79
8. Charlotte, North Carolina – 58.3
9. Fort Worth, Texas – 58
10. Austin, Texas – 56.86