If you’re about to start a business, you may want to stay away from two big urban areas -- New York and Los Angeles -- and one very attractive place for young technical wizards, San Francisco. That’s according to a study conducted by WalletHub, which analyzed start-up opportunities in 150 of the most populated cities in the U.S.
WalletHub used 13 different metrics to measure the worst cities, including 5-year survival rates, affordability and availability of office space, educational level of the labor force, corporate taxes, and cost of living.
Between 15 million and 53 million Americans are now working for themselves. That figure is slated to grow over the next few years -- self-employed Americans are expected to reach 60 million by 2020.
At the bottom of the list is Newark -- despite Mayor Ras Baraka’s recent push to attract businesses to the city. The New Jersey city west of the Big Apple ranked as the worst city to start a business, followed by Jersey City and Garden Grove in California.
Take a look at the top of the list, the 10 best cities to start a business are mostly located in the South.
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