A recent analysis by USA TODAY Blueprint highlighted Dallas as the fourth-best city in the United States for starting a business. The ranking is based on several key metrics, including business success rates, gross domestic product (GDP) growth and employment in startups.
In 2023, the U.S. saw a record 5.5 million new business applications, though 18% failed within their first year. With such high stakes, choosing the right location can significantly impact a new business's chance of success.
Dallas stands out with a notably high success rate for new businesses. According to the study, the city ranks third in net business openings and ninth in business entry rates. Specifically, Dallas had 4,388 more businesses open than close in the past year. The city also boasts the fifth-highest employment rate in startups, with 4.4% of jobs tied to new businesses.
Moreover, Dallas is noted for its entrepreneurial spirit, with 12.5% of households reporting self-employment income. The city also excels in economic growth, showing a 13.5% GDP increase from 2021 to 2022, ranking sixth in this category.
The study analyzed data from 46 major U.S. cities, evaluating factors such as business openings, closures, employment in startups and GDP growth to determine the best cities for entrepreneurship. Austin, Texas, topped the list, while Miami, Florida and Nashville, Tennessee, followed closely behind. Dallas’s robust performance in several areas underscores its strong position in fostering new businesses.
For more details on the study, including methodology and additional statistics, visit USA TODAY Blueprint.
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