Seattle ranked No. 74 among best large cities to start a business

(The Center Square) – A new WalletHub study ranks Seattle 74th on a list of the best 100 big cities in the U.S. for starting a business. It was the only city in Washington state to make the list.

Cities were ranked across three dimensions, according to the report’s methodology. Those included the city’s business environment, access to resources would-be entrepreneurs enjoy, and the costs of starting a business in the given geography. In total, 20 key metrics were included, such as the five-year business survival rate, the share of the college-educated population, and office space affordability.

Seattle’s superstar tech-hub status didn’t translate into WalletHub ranking the city as an especially great place for start-ups.

“Seattle ranks in the bottom half of the best places to start a business,” WalletHub analyst Jill Gonzalez told The Center Square via email. “The main reasons for this ranking are that it has the lowest five year business survival rate at 40.5%, as well as the lowest entrepreneurship index. The city also has high business costs. More specifically, office space is among the least affordable here, and labor costs are some of the highest in the country.”

There was some good news for Seattle, in the form of the Emerald City’s No. 2 ranking in the most educated population category. Only Irvine, California bested Seattle, which ranked ahead of Washington, D.C., Scottsdale, Arizona, and San Francisco, California.

Seattle’s high ranking in terms of an educated populace is in line with the Axios-Generation Lab Next Cities Index from last month that found Washington’s largest city is the nation’s most desired post-graduation destination for college students.

Two major cities in neighboring Pacific Northwest states topped Seattle in WalletHub’s big city start-ups report. Portland, Oregon was ranked No. 39 and Boise, Idaho was ranked No. 5.

The top 10 big cities in the U.S. to start a business:

1. Orlando, Florida

2. Miami, Florida

3. Laredo, Texas

4. Durham, North Carolina

5. Boise, Idaho

6. Denver, Colorado

7. Jacksonville, Florida

8. Raleigh, North Carolina

9. Colorado Springs, Colorado

10. Tampa, Florida

The bottom 10 big cities in the U.S. to start a business:

100. Washington, D.C.

99. Corpus Christie, Texas

98. Chesapeake, Virginia

97. Detroit, Michigan

96. Pittsburgh, Pennsylvania

95. Fremont, California

94. Cleveland, Ohio

93. Bakersfield, California

92. Baltimore, Maryland

91. Anaheim, California

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