Nashville Listed as One of the Best Places to Start a Business

downtown nashville photo by visit music city
photo: Visit Music City

In its latest study, WalletHub compared the relative startup opportunities that exist in 100 U.S. cities and released its list of the best large cities to start a business. In creating the list, they used 21 key metrics, ranging from the five-year business survival rate to COVID-19 cases to office-space affordability.

The number one place to start a business is Laredo, Texas followed by Durham, NC and coming in at number 19 is Nashville, TN.

Other findings in the study:

  • Toledo, Ohio, has the lowest average annual rent for office space, $11.93 per square foot, which is 6.7 times cheaper than in San Francisco, the city with the highest at $80.22 per square foot.
  • Detroit has the lowest labor costs (median annual income), $30,894, which is 4.3 times lower than in Fremont, California, the city with the highest at $133,354.
  • Laredo, Texas, has the lowest cost-of-living index, 79.00, which is 2.5 times lower than in Honolulu, the city with the highest at 198.60.

See the list below.

Best Large Cities to Start a Business
1. Laredo, TX 11. Atlanta, GA
2. Durham, NC 12. St. Petersburg, FL
3. Lubbock, TX 13. Reno, NV
4. Orlando, FL 14. Dallas, TX
5. Boise, ID 15. Winston-Salem, NC
6. Charlotte, NC 16. Colorado Springs, CO
7. Raleigh, NC 17. Jacksonville, FL
8. Austin, TX 18. Kansas City, MO
9. Fort Worth, TX 19. Nashville, TN
10. Tampa, FL 20. Irvine, CA

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