One CNY City is Among the Worst in the Nation to Start a Business
If you're looking to start your own business, avoid this city in Central New York at all costs.
WalletHub is back with yet another nationwide list, this time ranking 2023's Best & Worst Small Cities to Start a Business. This is perfect for any entrepreneur or aspiring business owner who isn't looking to kick-start their dreams in a big city.
Their financial experts analyzed a wide range of data, narrowing everything down into 18 key metrics. These included factors like average small business growth, access to resources, and business costs.
It was clear from the list that Utah was the best place to go, with 5 small cities ranking in the Top 10. As for New York, the same could not be said. Especially for this city that came up with some of the worst results.
#1303 - Auburn, New York
Though it didn't come it at the bottom of the list, it came pretty close to it. Of the the 1334 cities analyzed in the study, Auburn came in at a surprising 1303 on the rankings. What seems like a pleasant place to live is the opposite for any entrepreneur.
Here's where Auburn ranked on the study's 3 key metrics:
Business Environment - 1327
Access to Resources - 1276
Business Costs - 590
Most of the cities ranked below Auburn were either from California (16), Maryland (5) or New Jersey (5). So it's reassuring that not too many other cities in New York culminated at the very bottom of the list.
The closest city from New York to Auburn on the list was Rome, which came in at 1289th overall. Too be fair, it also took a while for any city to make the top of the list either. The highest ranking city in New York was Poughkeepsie at 300.
See where other cities ranked by visiting WalletHub's website.