Enid is the 11th best small city in the nation in which to start a business, according to a study by WalletHub.com.
According to the Wallethub “2016’s Best Small Cities to Start a Business” report, Holland, Michigan is No. 1.
Enid is the only Oklahoma city in the Top 20.
To identify the most business-friendly small markets in which to launch a new venture, WalletHub’s analysts compared 1,268 small-sized cities across 15 key metrics. The data set ranges from “average growth in number of small businesses” and “prevalence of investors” to “office-space affordability” and “corporate taxes.”
Comparing the Best and Worst
- Miami Beach, Fla., has the highest number of startups per 100,000 residents, 246, which is seven times higher than in Salisbury, Maryland, the city with the lowest, 35.
- Santa Paula, Calif., has the highest industry variety, which is four times higher than in Suisun City, Calif., the city with the lowest.
- Bethesda, Maryland., has the highest percentage of the population with at least a bachelor’s degree, 82.2 percent, which is 22 times higher than in Soledad, Calif., and Wasco, Calif., the cities with the lowest, 3.7 percent.
- Mountain View, Calif., has the least affordable office spaces, with a price of $65.87 per sq. ft. per year, which is eight times higher than in Dothan, Alabama, and Kentwood, Mich., the cities with the lowest price, $8.76 per sq. ft. per year.
- Carbondale, Illinois, has the lowest labor costs, $17,677, which is 11 times lower than in McLean, Va., the city with the highest, $188,639.
- Weslaco, Texas, has the lowest cost-of-living index, which is six times lower than in Beverly Hills, Calif., the city with the highest.
- East Lansing, Mich., has the shortest average work week, 28 hours, which is two times shorter than in Fort Hood, Texas, the city with the longest, 50 hours.
Top 20 Best Small Cities to Start a Business
- Holland, Michigan
- North Chicago, Illinois
- Brighton, New York
- Jefferson City, Missouri
- La Vergne, Tennessee
- Inver Grove Heights, Minnesota
- Clearfield, Utah
- Dothan, Alabama
- Cheyenne, Wyoming
- Deerfield, Florida
- Enid, Oklahoma
- Wilson, North Carolina
- Irondequoit, New York
- East Chicago, Indiana
- Deer Park, Texas
- Midvale, Utah
- Chesterfield, Missouri
- Riviera Beach, Florida
- Maryland Heights, Missouri
- Rapid City, South Dakota