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2017 Best Small Business Cities in America

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Biz2Credit: https://www.biz2credit.com/
Related Resource: http://www.biz2credit.com/research-reports/2017-best-small-business-cities-in-america

Biz2Credit has identified New York as the best small business city in America for 2017, based on a weighted average that includes annual revenue and credit score.

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Veröffentlicht in: Kleinunternehmen & Unternehmertum
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2017 Best Small Business Cities in America

  1. 1. About the Biz2Credit Best Small Business Cities in America Study Biz2Credit analyzed nearly 30,000 businesses with less than 250 employees and less than $10 million in annual revenues from across the country that have been in operation for more than one year. About Biz2Credit Founded in 2007, Biz2Credit has arranged more than $1.6 billion in small business financing and was recently named to Crain’s New York’s Fast 50 and the top 150 of fast-growing companies on Deloitte's 2016 Technology Fast 500. Biz2Credit is expanding its industry-leading technology in custom digital platform solutions for leading banks and other financial institutions, investors and service providers in the US and abroad. Please visit www.biz2credit.com, and follow us on Twitter: @Biz2Credit, Facebook: www.facebook.com/biz2credit and LinkedIn: https://www.linkedin.com/company/biz2credit-llc). 1. New York, NY 2. Miami-Fort Lauderdale, FL 3. Austin, TX 4. San Jose, CA 5. Los Angeles, CA 6. Seattle, WA 7. Phoenix, AZ 8. San Francisco, CA 9. Indianapolis, IN 10. Riverside-San Bernardino, CA 11. Houston, TX 12. Baltimore, MD 13. Dallas-Fort Worth, TX 14. San Diego, CA 15. Detroit, MI 16. Washington DC 17. Denver, CO 18. Sacramento, CA 19. Chicago, IL 20. Atlanta, GA 21. San Antonio, TX 22. Charlotte, NC 23. Las Vegas, NV 24. Philadelphia, PA 25. Virginia Beach, VA For this analysis, Biz2Credit defined "small businesses" as companies having fewer than 250 employees or less than $10 million in annual revenues. The Top 25 Cities for Small Business in 2017 are: The Top 10 metro areas by Annual Revenue Businesses in New York significantly outpaced companies based in other cities in annual revenues, ,”said Arora, whose firm is based in Manhattan.“Tourism, food & hospitality, real estate and construction are quite strong. Additionally, the tech industry is booming, particularly ecommerce and fashion-focused technology. New York benefits from an educated workforce that attracts young professionals from top schools in the U.S. and immigrants from all over the globe.” - Biz2Credit CEO Rohit Arora When sorted by Age of Business (in months), Las Vegas was the leader. “Entrepreneurs are taking advantage of the stream of visitors that continue to flock to Las Vegas and its low costs of living make it an attractive location to start a business,”says Arora.“Nevada is one of seven states in America that does not collect an income tax and this stimulates companies to hire more workers and generate more revenue to fuel the economy.” - Biz2Credit CEO Rohit Arora When sorted by Credit Score, New York, again was the leader. Rounding out the Top 10 were San Jose, San Francisco, Miami-Fort Lauderdale, Riverside-San Bernardino, Los Angeles, Indianapolis, Seattle, Austin and Houston. "Businesses in the New York metro area were more established than those throughout the country and typically higher credit scores comes with the territory," “There is also a correlation between higher credit scores and businesses with better longevity. Many of the cities in the Top 10 were represented by longer operating businesses.” - Biz2Credit CEO Rohit Arora 1 2 3 4 5 6 7 8 9 101 2 3 4 5 6 7 8 9 10 NY 646 CA 644 CA 640 FL 640 CA 627 CA 625 IN 622 WA 622 TX 621 TX 616 New York San Jose San Francisco Miami-Fort Lauderdale Riverside-San Bernardino Los Angeles Indianapolis Seattle Austin Houston 1 2 3 4 5 6 7 8 9 101 2 3 4 5 6 7 8 9 10 NV 44 TX 44 VA 46 CO 47 GA 49 PA 50 TX 50 CA 51 MD 52 CA 52 Las Vegas San Antonio Virginia Beach Denver Atlanta Philadelphia Austin Riverside-San Bernardino Baltimore Sacramento, 1 2 3 4 5 6 7 8 9 101 2 3 4 5 6 7 8 9 10 NY $979,674 FL $800,024 TX $750,023 CA $640,334 WA $632,114 CA $542,712 DC $542,674 CA $527,957 TX $513,533 CA $511,991 New York AustinMiami-Fort Lauderdale San Jose Seattle Los Angeles Washington San Diego Dallas-Fort Worth San Francisco With its thriving tech sector and access to universities and highly skilled workers, Austin, Texas, jumped to No. 3. Meanwhile, San Jose dropped from the top spot in 2016 to No. 4 this year. “Technology companies in Silicon Valley are still thriving, but it’s the supplementary companies that are faced with challenges of growing,”explained Arora.“Lacking that economic balance in the area has prevented San Jose from reigning as the leader in top small business cities this year.” - Biz2Credit CEO Rohit Arora April 2017 Biz2Credit's 2017 Ranking of The Best Small Business City Analysis Examined Annual Revenue, Credit Scores and Other Factors Austin, Texas, jumped to No. 3. San Jose dropped from the top spot in 2016 to No. 4 New York 1 2 Miami-Fort Lauderdale 3AUSTIN 4San Jose New York- 2017 Best Small Business City in America. “There is no doubt that New York is the Big Apple for small business,”explained Biz2Credit CEO Rohit Arora, one of the nation's leading experts in small business finance, who oversaw the research.“Companies in the New York metropolitan area had the highest average revenue ($979,674), were the longest established (76 months), and business owners had the highest personal credit scores (646). The city's growth has been fueled by the booming real estate market and construction industry, banking and finance, and New York's booming technology sector.” - Biz2Credit CEO Rohit Arora Biz2Credit has identified New York as the Best Small Business City in America, based on a weighted average that includes annual revenue, credit score, age of business (in months), and a BizAnalyzer score that factors in cash flow, debt-to-income ratio, taxes and other factors. Miami-Fort Lauderdale metro area ranked No. 2 in Biz2Credit’s annual study. “Miami has always been a hub for Latin American operations due to its proximity,” “Latinos have accounted for more than half of the total U.S. population growth over the last 15 years. Immigrants continue to move in and start businesses. Additionally, there is a real estate and construction boom in South Florida. The weather is nice, and Miami is a bit less expensive than New York or Northern California in terms of cost of living.” - Biz2Credit CEO Rohit Arora

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