Madison is one of the best metropolitan areas to start a small business in the arts, entertainment and recreation sector, according to new research from Credit Review.
Among the nation's 100 largest metropolitan areas, Madison ranks 15th as the best place to start a small business in a high-growth area, according to the report.
The Milwaukee metropolitan area was just behind Madison as the 30th best metropolitan area to start a small business. Another report from the Wisconsin Policy Forum found that while Milwaukee has strong networks and support systems to help small businesses, there are several gaps in guidance and leadership that could limit growth. It is said that there is.
The study looked at 100 of the largest U.S. cities and examined their unemployment rates, population growth rates, GDP per capita, new business creation, business tax environments, and more.
Austin, Texas was ranked as the best metropolitan area to start a small business in arts, entertainment, recreation, and information services. Six cities in Florida ranked in the top 25, while Utah, Texas, and North Carolina each had three cities in the top 25.
What are the top five metropolitan areas to start a small business in the United States?
According to Credit Review, the top five metropolitan areas in the United States to start a small business are:
- Austin – Round Rock – Georgetown, Texas: Austin's population is in the peak working age range of 18 to 44, which is 7% higher than the national average.
- provo orem, utah: Utah's second largest metropolitan area near Brigham Young University provides a talent pipeline for small businesses.
- Laurie Cary, North Carolina: A cluster of three elite research universities: North Carolina State University, Duke University, and the University of North Carolina at Chapel Hill provides a foundation for innovation.
- Salt Lake City, Utah: Includes a technology startup community, a large number of venture capitalists, and a young workforce.
- boise city, idaho: The metropolitan area has a technology market and an educational hub with a public university, a private university, and two community colleges.
Resources for starting a small business in Madison:
Madison has municipal programs and local groups that support small business owners. The City of Madison has a Office of Business Resources to help you open a business in Madison.
Resources for starting a small business in Milwaukee:
The city is home to at least 50 small business support organizations, ranging from for-profits to nonprofits to government agencies. Most organizations provide capital, grants, mentorship, and networking. Here are some organizations serving small business owners in the Milwaukee area.
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