The best cities to start a business? Austin skyrockets to top of list.
The entrepreneurial spirit is alive and well in Austin, says WalletHub's report on the best cities to start a business. Austin ranks No. 8 on this year's list — an impressive jump from the No. 20 spot in 2016.
The financial website's analysts compared startup opportunities in the 150 most populated U.S. cities by analyzing 18 key metrics, ranging from business survival rate to office affordability.
Austin shines with the No. 4 business environment ranking, as well as the No. 9 ranking for access to resources. Business costs, however, are steep — we rank among the worst, at No. 127. Among individual metrics, our best showing is for average growth in number of small businesses (4), followed by venture investment per capita (8) and startups per capita (10).
As a whole, Texas seems to be the land of opportunity. Joining Austin in the top 25 are Amarillo (No. 9), Lubbock (No. 13), Laredo (No. 15), Houston (No. 18), Fort Worth (No. 20), San Antonio (No. 22), and Corpus Christi (No. 25). Amarillo, Lubbock, and Laredo tie for the most accessible financing in the U.S.
Those looking to start a biz outside of the Lone Star State need not go far. Oklahoma City claims the No. 1 spot on the report.