Starting a small business has always been a key part of the American Dream, and recent years have shown that more people than ever are chasing that goal. In 2023, a record-breaking 5.5 million new business applications were filed across the U.S., proving that entrepreneurship is thriving. But where you start your business matters, and finding the right location can make a huge difference.
To help aspiring entrepreneurs, a recent study analyzed 136 U.S. cities to identify the best places for small businesses in 2024. Factors like local economic growth, labor costs, and business applications were all taken into account.
One clear takeaway? The South is leading the charge for small business success, with 14 of the top 20 cities located below the Mason-Dixon line. Cities like Miami, Orlando, and Austin are among the hottest spots for startups, while places like Scottsdale, AZ, and Denver are also proving to be prime locations for new ventures.
Meanwhile, out West, cities like Denver and Salt Lake City are making a strong case for small business success, and it’s no surprise that the top small business hotspot also comes from this region.
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