Starting a small business is an exciting but challenging journey, and the city you choose can be the tipping point between success and struggle. To help aspiring entrepreneurs find the best places to plant their roots, a recent study unveiled the top 20 cities for small businesses — including Allen, Texas.
According to the study, Allen is ranked 12th in the nation for starting a small business. The city stands out for its strong self-employment rate and strategic location, offering a supportive environment for entrepreneurs. With a self-employment rate of 12%, the city ranks eighth nationally, while its impressive gross domestic product (GDP) growth of 33.4% secures a 16th-place ranking in that category.
Allen also boasts a robust labor force, with 70.5% of residents employed, earning it 18th place for workforce participation. The city also benefits from an educated population, with 35.9% of residents holding a bachelor’s degree, ranking it 19th in the nation. Allen's thriving business landscape is underscored by its 20th-place ranking for business application rates, with 2,387 applications per 100,000 residents.
Dallas also ranked among the top cities, but came in further back, placing 29th in the analysis. The city is highlighted by a notable GDP growth of 33.4%, placing it 16th nationally. Dallas also boasts a strong self-employment rate of 10.3%, securing the 20th spot in this category.
Among the top five cities in the study are Scottsdale, Arizona; Miami, Florida; Atlanta, Georgia; Orlando, Florida; and Austin, Texas.
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