Apr 24, 2018

Posted by in General Article

Where’s the best place in the U.S to open a small business?

Location is still a fundamental consideration for Brick and Mortar stores. Where you choose to erect your shop will influence its performance particularly if you’re introducing a new company. So for the millennial entrepreneur looking to join America’s small business industry; which spot would be United States’ best market for a new micro-business?

Surprisingly, there’s no place booming with startups like Sacramento at the moment. This is according to a recent list courtesy of LendingTree, a web-based financial company.

LendingTree revealed that Sacramento’s astonishing performance could be backed data from over 70,000 queries presented by new startup owners seeking lending like high risk business loan from LendingTree’s Micro-business loan market. There’s indicative info showing that businesses tend to do best in Sacramento.

LendingTree’s business data was also limited to Americas 50 most densely inhabited metropolitan places, as listed by the U.S. Census Bureau. The study looked into factors like the profitability and annual revenue minus all other expenses.

Other criteria LendingTree used to select businesses for this study were; concentrating on those with an annual revenue not exceeding $7.5 million, and companies that have operated for over five years and submitted a loan request to LendingTree between Jan 2016, and Jan 2018.

Here’s LendingTree’s entire list of America’s best selling spots for startups

  1. Sacramento
  2. Grand Rapids, Mich
  3. Portland, Ore
  4. Knoxville, Tenn
  5. Denver
  6. Seattle
  7. Tulsa, Okla
  8. Albuquerque, N.M.
  9. Fresno
  10. Los Angeles; and Oklahoma City

It is important to note that Sacramento was one of the three California-based cities listed on the top 10 list. The other two were Fresno at number nine and Los Angeles at number ten.

LendingTree also listed the 10-worst cities

  1. Cincinnati
  2. Rochester, N.Y.
  3. Philadelphia
  4. Louisville, Ky
  5. Birmingham, Ala
  6. Detroit
  7. Harrisburg, Pa
  8. New Orleans
  9. Virginia Beach, Va.
  10. Chicago

Conclusion

These lists are only meant to guide a retailer in his/her choice for a business location, and there’s no guarantee you’ll naturally thrive in the mentioned zones. However, the question of which place is good for your specific niche or industry is a different issue that requires further research.

Author Bio: Business Funding expert, Michael Hollis prides himself in being able to help the backbone of America; small business owners acquireHigh risk business loan. When he isn’t helping merchants, you’re more than likely to find him scuba diving the California coast or eating at one of LA’s tasty Vegan restaurants.

 

 

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