Texas is home to some of the best places for small businesses, says a new report. In honor of National Small Business Week, WalletHub has ranked the best cities for working in a small business: Austin, Dallas and Houston come out on top.
To determine the rankings, WalletHub compiled factors in two categories: "Small Business Environment," which defines what it's like to work in the average small business, and "Economic Environment," which analyzes what it's like to work in each city.
According to the study, Austin-Round Rock is the No. 4 best place in the United States to work in a small business. Austin ranks No. 14 for "Small Business Environment," based on such factors as net job growth, variety of job types, percentage of businesses offering health insurance, and average employee's earnings. Impressively, we rank No. 4 for "Economic Environment," thanks to our low unemployment rate and high well-being index.
As far as the rest of Texas goes, Dallas-Forth Worth-Arlington ranks No. 8, followed by Houston-The Woodlands-Sugarland at No. 9. The Houston metro area leads the nation with the highest earnings for small business employees (adjusted for cost of living). Austin and Dallas follow at Nos. 3 and 5, respectively.
The top three places to work for a small business are the Charlotte, North Carolina metro area; Raleigh, North Carolina; and Oklahoma City, Oklahoma. For the full list, check out WalletHub.