WalletHub<\/a> reports Tampa and St. Pete are in the top five best U.S. cities to get a new business started, ranking No. 1 and No. 5, respectively.<\/p>\nThe new study compared startup opportunities across 100 U.S. cities, based on 19 metrics such as the five-year business survival rate, labor costs and office-space affordability.<\/p>\n
\u201cStarting a business can be very scary, considering one in every five startups doesn\u2019t make it past the first year,” Chip Lupo, WalletHub analyst, said in a statement. “That\u2019s why it\u2019s especially important to live in a city that provides an environment where new businesses can thrive, with enough capital, workers and customers to keep it going long-term.\u201d<\/p>\n
WalletHub explained that Tampa holds the top spot for business startups due to its low corporate tax rate, which allows businesses to keep more of their revenue.\u00a0<\/p>\n
The city also has a high number of investors per capita, and the combination of low taxes and high capital gives businesses more resources to survive difficult initial years.<\/p>\n
Tampa also reportedly scores high on the Entrepreneurial Activity Index, showing a large number of startups in the city that have a high survival rate.<\/p>\n
WalletHub gave Tampa an overall score of 64.15.<\/p>\n
St. Pete received recognition as the fifth-best city for new businesses, receiving a total score of 59.24.<\/p>\n
The study ranks the Sunshine City the 10th best for business environment, 36th best for access to resources and 29th best for business costs.<\/p>\n
Tampa and St. Pete were not alone at the top of the study, as the five highest-ranked cities are all in Florida.<\/p>\n
The other top-ranked cities include Orlando (No. 2), Jacksonville (No. 3) and Hialeah (No. 4).<\/p>\n
The worst-ranked city for new businesses, according to WalletHub, is Washington, D.C.<\/p>\n","protected":false},"excerpt":{"rendered":"Five Florida cities were ranked among the best places to start a business, including the Tampa Bay area’s…\n","protected":false},"author":2,"featured_media":238984,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[202,204,203,199,201,200],"class_list":["post-238983","post","type-post","status-publish","format-standard","has-post-thumbnail","category-st-petersburg","tag-st-pete","tag-st-pete-headlines","tag-st-pete-news","tag-st-petersburg","tag-st-petersburg-headlines","tag-st-petersburg-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/238983","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=238983"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/238983\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/238984"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=238983"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=238983"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=238983"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}