WPB Area & South Florida Ranks In Top 10 For Small Business

 

Biz2credit

 

Analysis Examined Markets with the Highest Annual Revenue, Credit Scores and Other Factors

May 15, 2014

(West Palm Beach, FL) – The West Palm Beach area and all of South Florida in general has been ranked as one of the Top 10 small business locations in the nation according to a new survey by the credit company Biz2Credit.com.

The rankings were based on a weighted average that includes annual revenue, credit score, age of business (in months), cash flow, debt-to-income ratio, incorporation (C-Corp or LLC vs. sole proprietorship), and business owners’ personal credit scores.

“This is great news, and following on the heels of our new Flagler Financial District, it once again proves what Harvard University found in research last year. Our area is the hottest spot in the nation for entrepreneurs and small business owners,” said West Palm Beach Mayor Jeri Muoio.

For this analysis, Biz2Credit defined “small businesses” as companies having fewer than 250 employees or less than $10 million in annual revenues. The Top 10 Cities for Small Business in 2014 are:

  1. San Jose-Sunnyvale-Santa Clara, CA
  2. Detroit-Dearborn, MI
  3. Denver, CO
  4. Los Angeles-Long Beach-Anaheim, CA
  5. San Francisco-Oakland, CA
  6. Las Vegas, NV
  7. New York metro area
  8. Atlanta, GA
  9. Washington, DC metro area
  10. Miami-Fort Lauderdale-West Palm Beach, FL