New data study names Jacksonville as the 7th best U.S. city to start a business, with high success rates, large numbers of new businesses and high employment in startups
A record-breaking 5.5 million new U.S. business applications were filed in 2023, but with 18% failing within their 1st year, budding entrepreneurs should increase their chances of success where possible, and a major factor to consider is location.
USA TODAY Blueprint analyzed 8 data points from 46 of the most populous U.S. cities, such as the number of businesses launched, closure rates, the % of households with self employed incomes, GDP growth, and more, to rank the best cities to start a business.
The best cities to start a business – Key findings for Phoenix
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Jacksonville has the 6th highest Business entry rate: With a Census BD rating of 9.6
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Jacksonville has a high success rate for businesses: The city ranks 10th overall for net business openings with 1282 more opening than closing in a year
- The city has the 7th best GDP Growth: At 13.1%
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Jacksonville has the 12th highest employment in startups: With 4% (1 in 25 jobs)
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Jacksonville has the no.1 net job creation rate: With a Census BDS Job Creation Rate of 0.2
| City | Net business births | Net job creation rate | Business entry rate | Business exit rate | Employment in startups as % of total employment | Households with self-employment Income (%) | Unemployment (%) | GDP growth (%) |
| Jacksonville | 1282 | 0.2 | 13.2 | 9.6 | 4.0% | 9.6% | 3.3% | 13.1% |
Top 5 Cities and their rankings for each factor
| Overall Rank | City | Net business Births | Net Job Creation Rate | Business Entry Rate | Business Exit Rate | Employment in Startups as % of total employment | % of Households with self-employment income | Unemployment (Dec 2023) | GDP Growth 2021-22 |
| 1 | Austin, Texas | 7 | 12 | 5 | 27 | 2 | 6 | 16 | 2 |
| 2 | Miami, Florida | 1 | 19 | 1 | 42 | 4 | 5 | 1 | 10 |
| 3 | Nashville, Tennessee | 14 | 16 | 17 | 12 | 6 | 2 | 2 | 8 |
| 4 | Dallas, Texas | 3 | 13 | 9 | 22 | 5 | 9 | 27 | 6 |
| 5 | Atlanta, Georgia | 2 | 9 | 3 | 31 | 7 | 13 | 7 | 21 |
| 6 | Phoenix, Arizona | 5 | 3 | 7 | 21 | 9 | 24 | 16 | 15 |
| 7 | Jacksonville, Florida | 10 | 1 | 6 | 18 | 12 | 39 | 13 | 7 |
| 8 | Raleigh, North Carolina | 12 | 6 | 12 | 14 | 10 | 28 | 10 | 19 |
| 9 | Houston, Texas | 4 | 34 | 11 | 23 | 18 | 11 | 33 | 3 |
| 10 | Tampa, Florida | 6 | 11 | 4 | 24 | 17 | 32 | 13 | 13 |
Find the full methodology, data, and further analysis of the best cities to start a business in the U.S. here:
https://www.usatoday.com/money/blueprint/business/business-formation/best-cities-for-businesses/
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