These North Carolina cities rank among the nation’s best places to start a business
If you want to start a business in North Carolina, you may be in luck, a new report finds.
The state is home to three of the nation’s best places for entrepreneurs to get on their feet, according to the personal finance website WalletHub.
Durham ranked No. 2 in the study, which weighed startup costs, investor opportunities and other factors that help new businesses move forward.
Charlotte earned a No. 6 spot, and Raleigh landed at No. 7 in the rankings, results released Tuesday show.
To make the list, WalletHub said it used data from the U.S. government and other sources to study the nation’s 100 most populous cities. For each location, analysts focused on three areas: business environment, affordability and access to resources.
Durham ranked highest among all North Carolina cities after earning a top score for affordability, a category that weighed taxes, costs of living and the amount of money needed for labor and office space.
The Bull City also ranked high in best access to resources, measured by the area’s colleges, loan opportunities and available workers.
Raleigh also got a nod for its resources, while COVID-19 rates and other circumstances that impact startups helped Charlotte to stand out in the business environment category.
Though many small businesses have struggled to stay afloat during the coronavirus pandemic, the vaccine rollout and eased restrictions offer hope for those wanting to launch businesses, according to WalletHub.
It’s not the first time a North Carolina city was recognized as a top place for new ventures.
In September, Durham was named one of the country’s best places for entrepreneurs who are women.
Also last year, another study of the most livable U.S. cities found that Raleigh’s growth helped to make it an ideal place to start a business.
In the latest WalletHub study, two other North Carolina cities landed on the nationwide list. Winston-Salem took the 15th spot and Greensboro took the 44th spot in the rankings, results show.
Overall, the nation’s most friendly place for entrepreneurs was the border city of Laredo, Texas. Rounding out the top five in WalletHub’s study were Lubbock, Texas; Orlando, Florida; and Boise, Idaho.
The lowest-ranking city was Jersey City, just outside of New York.
This story was originally published April 27, 2021 at 11:19 AM with the headline "These North Carolina cities rank among the nation’s best places to start a business."
