Unlocking Success: The Best City To Start Up A Business In The Country Is In Southern Utah

Thanks to a new survey out from WalletHub, there's a little braggin' to be done in southern Utah. And maybe a little surprise. And for the Wasatch Front, maybe a little head scratching.

Choosing the right city to launch a startup is a crucial decision for entrepreneurs, and size plays a significant role in this choice. Contrary to the belief that bigger cities offer better prospects, smaller cities can provide unique advantages for budding businesses. WalletHub, in its analysis of over 1,300 small-sized cities, sheds light on the best small cities for startups based on various business-friendly factors.

Leading the pack is Cedar City, UT, boasting one of the highest rates of startups per capita and substantial growth in small businesses between 2015 and 2021. Its short average commute time and promising employment and population growth rates make it an attractive destination for entrepreneurs.

Following closely is St. George, UT, renowned for its exceptional startup rate and impressive growth in small businesses. St. George offers affordable office spaces, minimal commute times, and a high annual job growth rate, all contributing to an environment conducive to business success.

Just missing completing the trifecta, Washington City came in at number 4

WalletHub's evaluation focused on three key dimensions: Business Environment, Access to Resources, and Business Costs. Utilizing 18 metrics, cities were graded on a 100-point scale to determine their overall score and ranking. The selected cities had populations ranging from 25,000 to 100,000 residents, with the analysis excluding surrounding metro areas.

Smaller cities offer lower overhead costs and the opportunity for entrepreneurs to establish stronger connections with their customer base. These cities can also foster a conducive environment for growth, potentially shielding businesses from economic shocks like pandemics or inflation. However, limitations such as a smaller professional network and restricted industry options may exist.

Ultimately, while big cities may seem like the obvious choice for startups, smaller cities present distinct advantages that can significantly enhance the chances of success. Entrepreneurs must carefully weigh their priorities and business needs when selecting the optimal location for their ventures.

And for the time being, the best place for a startup is right here at home.