It’s good to be an entrepreneur in Texas. But which cities are best to start a business? NerdWallet did a study to find out and discovered that one is in Central Texas.
To determine the rankings, researchers analyzed 200 places with populations of at least 10,000 to determine their business climates and economic health. Criteria included average revenue of businesses, percentage of businesses with paid employees, median annual income and housing costs, and unemployment rate, among others.
Temple ranks No. 8 on the list. The Central Texas city is the largest by population in the top 10. Temple is tied with Katy for the second-lowest unemployment rate. It also has the third-highest number of businesses, more than 3,900. Notes NerdWallet, "the city features a growing medical complex bolstered by Scott & White Memorial Hospital."
No other cities near Austin show up in the top 10, possibly due to the rising cost of living or the fact that the energy industry lacks a strong presence when compared to Houston and Dallas, according to NerdWallet.
The greater Houston area boasts five of the top 10 cities on the list: Webster, Stafford, Katy, Deer Park and Texas City. Dallas has two: Addison and Farmers Branch.
Austin ranks No. 96, Houston proper is No. 82 and Dallas proper falls at No. 115. See the complete list on NerdWallet.