According to a new survey from the personal finance site NerdWallet.
The researchers found that the best place to start a business in the US is Boulder, Colorado, which has a growing tech scene and resources like incubators and investors.
NerdWallet surveyed 183 metro areas with 15,000 or more businesses and populations and considered two questions with three criteria each:
According to these criteria, the top 10 best places to start a business all have populations under 1 million, and half of the top 10 are in the Midwest. The NerdWallet team determined that this is because there is less competition and a lower cost of living in these parts of the country, which allow entrepreneurs to more easily build their businesses.
This college town has a low cost of living, and it’s equidistant from Chicago and St. Louis. Bradley University and Caterpillar, the global construction equipment manufacturer, are located here, providing employment opportunities and drawing customers to local businesses, including The Chef and the Baker, a family-owned restaurant that sells box lunches and sweets. Peoria’s RiverFront District is the city’s main attraction, with festivals, live music, art, restaurants and shopping. Businesses can join the Peoria Chamber of Commerce to get listed in its directory, attend networking events and find advertising opportunities.
Click here for more information on the top 10.
