5 Top Cities for Starting a Business

By Gabrielle Karol Small Business FOXBusiness

Silicon Valley may be home to some of the most famous U.S. entrepreneurs – but it’s not one of the best cities to start a business, according to WalletHub.

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WalletHub looked at 14 metrics, from financing access to corporate tax rates, to determine which cities were most hospitable for entrepreneurs.

Here’s a look at the top five:

  • 1. Jacksonville, FL

    Jacksonville, FL


    WalletHub says Jacksonville has the second-highest small business survival rate over a 5-year period, in addition to low corporate tax rates and a strong workforce.

  • 2. Fayetteville, NC

    Fayetteville, NC


    According to WalletHub, Fayetteville has a great variety of industries and an inexpensive and diligent labor pool.

  • 3. Augusta, GA

    Augusta, GA


    Augusta is great for new businesses, says WalletHub, because it has low corporate taxes, affordable real estate and low average incomes.

  • 4. Jackson, MS

    Jackson, MS


    WalletHub reports that Jackson has abundant labor, inexpensive office space and low corporate taxes.

  • 5. Memphis, TN

    Memphis, TN


    WalletHub says Memphis is primed to become a startup hotspot, thanks to its deep employee pool and low cost of living.

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