Miami Has the Secret Sauce for Aspiring Entrepreneurs in Fitsmallbusiness.com's Roundup of the 15 Most Entrepreneurial Cities

NEW YORK, Feb. 13, 2018 /PRNewswire/ -- If you're looking to cook up a small business of your own, you might want to go to Miami or to Texas; they've got all the ingredients. The metro area which encompasses Miami, Fort Lauderdale and Pompano Beach has the country's best business climate to start your own company, according to Fit Small Business, an online publication serving small business owners, which analyzed and identified the top 15 entrepreneurial cities in the country. Three metropolitan areas in Texas ranked in the Top Ten as well.

The data can be found here

The Miami metropolitan area tops the list for a variety of reasons. It boasts the highest percentage of adults starting new businesses every month; 560 new entrepreneurs per 100,000 adults. With that many new entrepreneurs, it's no wonder that more than 10 percent of businesses there are startups less than one year old. Combine that with well-developed infrastructure, low pollution, and abundant venture capital, and the Miami area easily leads the lists.

Texas also seems to have many of the winning ingredients for entrepreneurial success.  It's the only state with three metropolitan areas within the top 10. (California has two.) Dallas-Fort Worth-Arlington (#4), Houston-Sugar Land-Baytown (#5), and Austin-Aurora-Broomfield (#8) all have the components to produce a winning recipe for success.

Fit Small Business analyzed publicly-available data from leading sources including the U.S. Census Bureau, Kauffman Foundation, National Venture Capital Association, and Tumbtack – to name a few – to create the definitive ranking of the most entrepreneurial cities in the U.S.

15 Most Entrepreneurial metropolitan statistical areas (MSA):

#1  Miami-Fort Lauderdale-Pompano Beach
#2  New York-Northern New Jersey-Long Island
#3  Los Angeles-Long Beach-Santa Ana
#4  Dallas-Fort Worth-Arlington
#5  Houston-Sugar Land- Baytown
#6  Atlanta-Sandy Springs-Marietta
#7  San Francisco-Oakland-Fremont
#8  Denver-Aurora-Broomfield
#9  Austin-Round Rock-San Marcos
#10 Washington D.C.-Arlington-Alexandria
#11 Phoenix-Mesa-Glendale
#12 Boston-Cambridge-Quincy
#13 San Diego-Carlsbad-San Marcos
#14 Orlando-Kissimmee-Sanford
#15 Las Vegas-Paradise

Fit Small Business chose the following ten categories that significantly influence a city's desirability for entrepreneurs:

1. Startup Density – 12.5 percent
2. Rate of New Entrepreneurs – 12.5 percent
3. Opportunity Share of New Entrepreneurs - 12.5 percent
4. Venture Capital Investment – 10 percent
5. Tax Friendliness to Small Businesses – 10 percent
6. Business as the Primary Source of Income – 10 percent
7. Infrastructure and Pollution – 10 percent
8. Annual Payroll – 7.5 percent
9. Number of Firms with Paid Employees – 7.5 percent
10. Non-employer Establishments – 7.5 percent

"We had a lot of surprises when we put together this list," says Eric Noe, Editor-in-Chief, Fit Small Business. "Texas stands out with three metropolitan areas very high on the list, and the East and West Coasts are amply represented. Also, while big cities like New York and L.A. rank high, smaller cities like Orlando and Denver make the Top 15." He adds, "This shows us that there are areas in the country which will boost your chances of success opening a small business if you take the time to do your research.  We hope this list will help in that regard."

About FitSmallBusiness.com:
With a rapidly growing monthly readership of more than 1.2 million. Fit Small Business is an online publication devoted to helping small business owners. Its full-time staff of writers spends hours of research, data analysis, and interviews with industry experts to answer the questions that owners want in order to run a successful small business.

For more information on this list and this topic, please contact Sarah Johnson, [email protected], 917-864-6355.

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SOURCE Fit Small Business

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