WASHINGTON—What’s the best small city for small businesses?
Washington, Utah, according to a new study from WalletHub, which released its report on 2022’s Best Small Cities to Start a Business.
Bozeman, Mont., has the highest number of startups per 100,000 residents, 332.13, which is 8.2 times higher than in Danville, Ill., the city with the lowest at 40.42.
Key Study Findings
- Bethesda, Md., has the highest share of the population with at least a bachelor’s degree, 86.70%, which is 26.3 times higher than in Coachella, Calif., the city with the lowest at 3.30%
- Kentwood, Mich., has the most affordable office spaces, at an annual rate of $9.06 per square foot, which is 6.8 times lower than in Mountain View, Calif., the city with the least affordable at an annual rate of $61.85 per square foot
- Isla Vista, California, has the lowest labor costs (median annual income), $21,018, which is 11.4 times lower than in Los Altos, Calif., the city with the highest at $240,094
- Fort Hood, Texas, has the longest work week, 47.30 hours on average, which is two times longer than in Isla Vista, Calif., the city with the shortest at an average of 23.70 hours
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