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The Small Business Environment05-07-15 | News
The Small Business Environment





According to WalletHub, Charoltte, N.C. is the top U.S. city for small businesses. Wallet Hub is a personal finance social network that enables consumers to search, compare and review more than 300,000 financial products, companies and professionals.
Image: charolttenc.gov


Small businesses collectively make up 99.7 percent of all U.S. employer firms, employ nearly 49 percent of the private workforce, pay about 42 percent of the private payroll, and created 63 percent of all new jobs added during the past 20 years, according to the U.S. Small Business Administration.

WalletHub has examined the small business environment of the 100 largest U.S. metro areas across 11 key metrics. The report metrics include net small business job growth, industry variety and earnings for small business employees.

Best Metro Areas to Work for a Small Business
1 Charlotte, NC
2 Raleigh, NC
3 Oklahoma City, OK
4 Austin, TX
5 Omaha, NE
6 Nashville, TN
7 Salt Lake City, UT
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8 Dallas, TX
9 Houston, TX
10 Boston, MA
Worst Metro Areas to Work for a Small Business
91 Springfield, MA
92 Tucson, AZ
93 Augusta, GA
94 New Haven, CT
95 Bakersfield, CA
96 Fresno, CA
97 Scranton, PA
98 Toledo, OH
99 Stockton, CA
100 Youngstown, OH
Key Statistics

-The number of small businesses per 1,000 inhabitants is two times higher in the Miami metro area than in the Bakersfield, Calif., metro area.

-The earnings for small business employees adjusted for cost of living are three times higher in the Houston metro area than in the Honolulu metro area.

-The median annual income adjusted for cost of living is two times higher in the Ogden, Utah metro area than in the McAllen, Texas metro area.

The unemployment rate is four times higher in the Fresno, Calif., metro area than in the Provo, Utah metro area.

By 2042, the Cape Coral, Fla., metro area is projected to experience the ighest population increase (103.4 percent). The Youngstown, Ohio metro area is expected to have the highest population decrease (11.1 percent).

For the full report and to see where your city ranks, please visit https://tinyurl.com/mljrg7z








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