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WalletHub Ranks 4 Alabama Cities Among Best Places to Start a New Business

Four of Alabama’s largest municipalities are among WalletHub’s best cities to start a business in the U.S.

WalletHub, a personal finance social network in Washington, D.C., released a report Tuesday naming the top cities for entrepreneurs in 2014. Mobile (No. 22), Montgomery (No. 23), Huntsville (No. 25) and Birmingham (No. 31) were the only Alabama cities featured in the ranking.

WalletHub looked at startup opportunities in the 150 most populous U.S. cities using 14 metrics, including access to financing, cost of office space, corporate taxes, labor pool availability, cost of living, average annual salary, length of an average workday and education.

The website also considered an area’s entrepreneurial activity, five-year survival rate, number of businesses per capita, real estate affordability, industry variety and small business friendliness.

WalletHub’s list of the top 10 best overall cities for entrepreneurs is:

1. Jacksonville, Fla.

2. Fayetteville, N.C.

3. Augusta, Ga.

4. Jackson, Miss.

5. Memphis, Tenn.

6. New Orleans

7. Tulsa, Okla.

8. Columbus, Ga.

9. Cape Coral, Fla.

10.  Las Vegas

Click here to see the full ranking and methodology.

March 12, 2014

Lucy Berry | By Lucy Berry |

Small Business

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