More new businesses fail than succeed, according to the Kauffman Foundation. And, as CNBC notes, U.S. Small Business Administration data shows that it's only a matter of time before at least half of all businesses go under: Nearly two-thirds of businesses with employees survive at least two years, but only about 50 percent survive at least five years.
So it's important to set up in an area where the odds are in your favor. Some cities are more hospitable to business formation than others. Regulatory hurdles, tax rates, ease and cost of hiring, and cost of real estate are just some of the factors. Cities across the country are also dealing with demographic challenges, including population growth, an aging workforce and economic stagnation.
The new CNBC Metro 20: America's Best Places to Start a Business ranking identified metro areas where the likelihood of business success is highest. For that ranking, CNBC reviewed data on the 107 largest metro areas in the United States.
Here's a look at the bottom 10 - the metro areas where social, economic and government hurdles to success could plague business owners.
10. Jackson, Mississippi
4 comments:
East side of the Route 50 bridge...(aka inside Ocean City)
Coke on that one City Hall!!!!
Any urban center in America with a high minority population. Open to robbery, shop lifting and looting. Must be why Amazon.com is doing so well?
2:36 Tell that to owners of Seacrets and MR Ducks. Sounds like you either couldn't run a business or are too lazy to try.
2:36:
Ocean City worst place to start a business?
Maybe it is, UNLESS you don't mind putting in 7 months of hours in just 4 months time, and making a year's worth of profit in those four months, and taking the winter off.
Worst place? I don't think so.
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