This week, WalletHub released its report on the Best Big Cities to Start a Business in 2022 and two cities in the Sunshine State top the list.
"Americans are born with an entrepreneurial streak. It's in our DNA. From the Gold Rush to the Industrial Revolution to the Internet Age, intense periods of innovation have shaped our economy and sparked important social advances. That said, the last few years have been one of the most difficult times for entrepreneurs in the US due to the COVID-19 pandemic. Conditions in the US are improving now that the country has reopened and many people have been vaccinated, but many entrepreneurs are having trouble finding new employees," Wallet Hub noted.
"To help aspiring entrepreneurs - from restaurant owners to high-tech entrepreneurs - maximize their chances of long-term prosperity after the COVID-19 pandemic, WalletHub compared the relative opportunities of existing startups in 100 U.S. cities. We did this using 20 key metrics, from the five-year business survival rate to the percentage of vaccinated residents to the affordability of office space," WalletHub added.
Five Florida cities made the top 20. Orlando was ranked as the best big city to start a business in the country, with Miami close behind in second place. Jacksonville was seventh on the list, while Tampa was tenth. Hialeah came 16th and St. Petersburg 17th.
"Miami and Hialeah in Florida have the highest number of startups per 100,000 inhabitants, 248.31," WalletHub noted.