Starting a business from scratch is no small feat, so being in an environment that lends to successful business ventures is a great way to maximize your growing business’s potential.
A list compiled by WalletHub ranking large cities by startup viability shows the Sunshine State as a hub of innovation, with five of the top 20 cities listed being in Florida. Coming in at No. 3 on the list is Miami. Miami also ranked highest from results in the same study for most startups per 100,000 residents (234.72).
WalletHub also compiled a similar list comparing small cities by a measure of the same metrics. Of the over 1,200 cities considered, South Florida hosts many of those ranked in the top 50. Boca Raton is ranked 14th for overall startup viability, with an “access to resources” ranking of sixth. Just below Boca Raton is Deerfield Beach at No. 15 with a “business environment” ranking of 13th.
Not far behind, Palm Beach Gardens is ranked 34th and North Fort Lauderdale at 36th. Doral comes in at 41, Boynton Beach at 46th, and Hallandale Beach at 49th.
In all, South Florida is home to seven of the top 50 small cities in America best suited for startups.
UPDATE: In a newly-released list compiled by Biz2Credit, Miami has been ranked No. 1 among Top 25 Cities for Small Business Growth in 2019. Rising from its No. 3 placement in 2018, Miami has officially surpassed New York in receiving the No. 1 spot. This ranking is based on analysis including annual revenue, credit score, business age, and the BizAnalyzer score that factors in financial data.
