If you want to launch a startup but don’t know where, be sure to check out the CNBC’s first-ever report on the best cities in the United States to start a business in for 2016. Austin, Texas, ranks number 1 on the list of best U.S. cities to start a business. The study found that “the greater Austin area is breeding the highest rate of new entrepreneurs in the country.”
In case you’re wondering about Austin’s competition, with a population of 116,288, Provo, the 3rd-largest city in the US state of Utah, ranks number 2 on the list, and Washington ranks third. Other cities in the top ten include Denver (No. 4), Charlotte, N.C. (No. 5), Houston (No. 6), Ogden, Utah (No. 7), Dallas (No. 8), Des Moines, Iowa (No. 9), and San Antonio (No. 10).
Towns such as San Francisco and New York were left off the list because of tax rates and the high cost of living.
Here are the top 20 cities worth moving to if you want to launch a startup:
1. Austin, Texas
2. Provo, Utah
3. Washington, D.C.
5. Charlotte, N.C.
7. Ogden, Utah
9. Des Moines, Iowa
10. San Antonio
12. McAllen, Texas
13. Colorado Springs, Colo.
14. Raleigh, N.C.
15. Sarasota, Fla.
16. El Paso, Texas
18. Salt Lake City
19. Las Vegas
To determine the rankings, A variety of factors interact to create the ideal circumstances for a new business venture – things like tax and regulatory climate, workforce, access to capital and cost of living.
Researchers used different metrics – things like environment for small-business success, the cost of doing business, quality of life, labor force and diversity.
Where in the U.S. would you choose to start your next business? Share your top city picks in the comments section below!
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