A study released Monday found that Shreveport, La., is the best place in the U.S. to start a business.
WalletHub, a personal finance social network, released the study, which analyzed start-up opportunities in the 150 most-populated cities in the U.S.
“We did so using 13 key metrics, such as the number of small businesses per capita, financing accessibility and the educational attainment of the local workforce,” WalletHub said.
The top 10 cities are as follows:
1. Shreveport, La.
2. Tulsa, Okla.
3. Springfield, Mo.
4. Chattanooga, Tenn.
5. Jackson, Miss.
6. Sioux Falls, S.D.
7. Memphis, Tenn.
8. Augusta, Ga.
9. Greensboro, N.C.
10. Columbus, Ga.
The study continues:
Driven by a dearth of traditional job opportunities and a reenergized hesitancy to put one’s fate in the hands of others, somewhere between 15 million and 53 million Americans are now working for themselves. There is always room in the market for new ideas, products, services and multi-million-dollar success stories — if one knows where to look.
Among the metrics analyzed to determine the best and worst cities to start a business, the survey looked at topics falling under “access to resources” and “business environment.” The full list can be found here.
Curious about the lowest-ranked city in the U.S.? It’s Newark, N.J., according to WalletHub.