20 Best and the Worst Metro Areas for Start-up
Start-ups are not just new firms or new places of work. They emerged as innovations that revolutionized the world. Creative people always look for opportunities to create new products or invent new technology. Nowadays, start-ups are growing rapidly due to an increase in technology. Most founders look for a place where they can invest in their start-ups and get an easy loan without any additional requirements.
Los Angeles is at the top rank for entrepreneurs as the Second largest area has more than 11% of the self-employed population and the worst area has a 5.4% self-employed rate which is South Bend-Mishawaka. We have taken some of the data and listed the best and the worst metro areas for start-ups in the United States. They are based on the self-employed rate that the metro generates although some states generate good self-employment some find it difficult to make more than 4% self-employment.
Here is the list of the best and the worst metro areas for Start-up:
1. Los Angeles-Long Beach-Anaheim, CA
- Self-Employment Rate: 11.3%
- Avg. Self-Employment Household Income: $53,421
2. North Port-Sarasota-Bradenton, FL
- Self-Employment Rate: 8.3%
- Avg. Self-Employment Household Income: $48,027
3. Austin-Round Rock-Georgetown, TX
- Self-Employment Rate: 13.1%
- Avg. Self-Employment Household Income: $54,480
4. Dallas-Fort Worth-Arlington, TX
- Self-Employment Rate: 8.6%
- Avg. Self-Employment Household Income: $50,899
5. Charleston-North Charleston, SC
- Self-Employment Rate: 9.2%
- Avg. Self-Employment Household Income: $48,349
6. Wichita Falls, TX
- Self-Employment Rate: 8.8%
- Avg. Self-Employment Household Income: $64,530
7. Spokane-Spokane Valley, WA
- Self-Employment Rate: 8.2%
- Avg. Self-Employment Household Income: $63,990
8. Fayetteville-Springdale-Rogers, AR
- Self-Employment Rate: 10.4%
- Avg. Self-Employment Household Income: $51,971
9. Miami-Fort Lauderdale-Pompano Beach, FL
- Self-Employment Rate: 14.0%
- Avg. Self-Employment Household Income: $47,159
10. San Diego-Chula Vista-Carlsbad, CA
- Self-Employment Rate: 9.7%
- Avg. Self-Employment Household Income: $55,355
The Worst Metro areas in the United States are where entrepreneurs find it harder to establish their start-ups some of the areas are listed below in our list which has the worst ranking in the United States the number of new start-ups is zero in some of these areas.
Here are the 10 worst metro areas in the United States for Start-ups:
1. South Bend-Mishawaka, IN-MI
- Self-Employment Rate: 5.4%
- Avg. Self-Employment Household Income: $30,912
2. Saginaw, MI
- Self-Employment Rate: 6.6%
- Avg. Self-employment Household Income: $29,113
3. Manchester-Nashua, NH
- Self-Employment Rate: 5.8%
- Avg. Self-Employment Household Income: $32,431
4. Dayton-Kettering, OH
- Self-Employment Rate: 6.8%
- Avg. Self-Employment Household Income: $38,731
5. Toledo, OH
- Self-Employment Rate: 6.8%
- Avg. Self-Employment Household Income: $33,352
6. Allentown-Bethlehem-Easton, PA-NJ
- Self-Employment Rate: 6.5%
- Avg. Self-Employment Household Income: $39,920
7. Bloomington, IL
- Self-Employment Rate: 5.4%
- Avg. Self-Employment Household Income: $41,795
8. Springfield, IL
- Self-Employment Rate: 5.7%
- Avg. Self-Employment Household Income: $41,909
9. Green Bay, WI
- Self-Employment Rate: 7.0%
- Avg. Self-Employment Household Income: $36,219
10. Canton-Massillon, OH
- Self-Employment Rate: 7.3%
- Avg. Self-Employment Household Income: $34,780
Conclusion:
These metro areas are also covered new business rates which are considered as the percentage of businesses that have been operating for three years or less. Entrepreneurs also look for loan sizes whatever state gives a good size of loan they prefer that place to establish the business. The average loan sizes are like 7(a) Loans and 504 loans both of which are the average dollar amount granted in (loans that help small businesses deal with real estate and other business types of equipment.
Each of the Metro is listed with their self-employment rate and the average self-employed household income. We hope you found this blog useful for establishing your start-up and looking at the opportunities in this metro area.
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