Area Listed #1 as Top Cities for Young Entrepreneurs
According to MoneyRates.com’s just released study of America’s Top Cities for Young Entrepreneurs, six of the top 10 cities are in Florida, and the North Port/Sarasota/Bradenton metro-areas are potential boom towns for young entrepreneurs.
“Sometimes reputation hasn’t caught up with reality, and looking at the data can reveal newly- emerging trends,” says Richard Barrington, Senior Financial Analyst for MoneyRates.com.
MoneyRates.com ranked the best cities for young entrepreneurs based on:
- • A fast-growing population is generally a sign of a thriving economy.
- • Business tax climate. Where states rank makes a big difference for young entrepreneurial startups.
- • Educational level. A well-educated local population creates both a talented work pool from which to recruit, as well as a more affluent consumer base.
- • Young adult affluence. Shows how receptive the local economy is to creating opportunities for young people and how strong a market young consumers represent.
The clear winner is the North Port/Sarasota/Bradenton metro-area*, described by Barrington as a welcoming environment for entrepreneurs. It landed in the top ten for all four individual evaluation categories. Most notably, the earning power of young adults was third strongest among the cities studied.
“It shows there is economic opportunity in the area for young adults, and the resulting affluence makes them attractive consumers for new businesses,” Barrington says.
Read the entire article here : MoneyRates.com