City ranks as No. 1 'small city to start a business' in US
People across the nation looking to dive into entrepreneurship may want to take a close look at a West Michigan city.
Holland ranks No. 1 in the ranking of “2016’s Best & Worst Small Cities to Start a Business” by WalletHub, a personal finance website.
The ranking includes 1,268 cities with a population between 25,000 and 100,000.
Holland earned a total score of 49.42 to secure the top spot, based on WalletHub’s methodology, which assigned weighted scores across three categories.
WalletHub compiled 15 relevant metrics and grouped them into the three categories — business environment, access to resources and business costs. The categories included metrics such as length of the average work week, average revenue per business, prevalence of investors and cost of living.
Holland ranks 35th in access to resources, 64th in business costs and 354th in business environment rank.
Other West Michigan cities
In addition to Holland, Kentwood ranks 51st overall, while Wyoming ranks 230th, Kalamazoo ranks 288th, Battle Creek ranks 350th and Muskegon ranks 406th.
Kentwood is tied for first in the cheapest office space category, while Battle Creek has the second-worst score in accessible financing.
East Lansing ranks as having the shortest average work week, at 28 hours.