By Amber Heckler Monday, December 18, 2023 5:09AM
Houstonians whose New Year's resolution is to start their own small business will be happy to learn they're in the right city to do it. Houston-The Woodlands-Sugar Land has been ranked among the 25 best metropolitan areas to start a small business in a new report.
The report by personal finance website The Credit Review placed Houston in the No. 22 spot, touting the city's rapid growth, its diverse economy, and its ever-expanding population as several attractive reasons for its rank.
Small business owners in Houston specifically thrive in the arts, entertainment, and recreation sectors, the report found. Houston has proved its big on business, as several major employers have invested in the city while earning high recognition for their efforts in improving the workplace atmosphere for employees.
With the shift to remote work, it's now much easier for Houston residents to launch their business than ever before, the report claims. But in order to ensure longevity with a small business, the study suggests launching the venture in a place with the right number of resources and connections.
"The more resources a small business owner has, the better chances they have to succeed," the report says. "This is why, despite the overall shift to a remote-centric world, geographic location matters more than ever for a small business’s long-term success."
Austin-Round Rock-Georgetown earned the gold medal as the No. 1 metro for starting a small business. The Central Texas region is also the No. 1 hotspot for businesses in the information services sector, and the arts, entertainment, and recreation industry.
Another thriving Texas metro that earned a spot in the top 10 is Dallas-Fort Worth-Arlington, claiming the No. 8 spot. Elsewhere in Texas, San Antonio-New Braunfels ranked below Houston as No. 32.
The top 10 U.S. metros for starting a small business are:
No. 1 – Austin-Round Rock-Georgetown, Texas
No. 2 – Provo-Orem, Utah
No. 3 – Raleigh-Cary, North Carolina
No. 4 – Salt Lake City, Utah
No. 5 – Boise, Idaho
No. 6 – Nashville-Davidson-Murfreesboro-Franklin, Tennessee
No. 7 – Jacksonville, Florida
No. 8 – Dallas-Fort Worth-Arlington, Texas
No. 9 – Charlotte-Concord-Gastonia, North Carolina-South Carolina
No. 10 – North Port-Sarasota-Bradenton, Florida
The report analyzed the top 100 U.S. metro regions across 10 factors to determine the rankings, including unemployment rates, growth rates, new business success rates, and more.
The full report can be found on thecreditreview.com.
Did you know, the city of Houston's economic development department offers grants to stimulate business and economic growth? Read more...
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