St. George has been ranked No. 2 in the nation in WalletHub’s 2018 Best Small Cities to Start a Business list released last week. But the recognition for the state didn’t stop there. Seven Utah municipalities made the top 25. In addition to St. George, Clearfield ranked seventh, followed by Ogden (8), Bountiful (12), Springville (14), Midvale (19) and South Jordan (22). No other state had more than two cities in the top 25.
“Size matters when choosing a city in which to launch a startup,” WalletHub said in announcing the findings. “As many veteran entrepreneurs — and failed startups — understand well, bigger is not always better. A city with a smaller population can offer a greater chance of success, depending on an entrepreneur’s type of business and personal preferences.”
To determine the best small cities in which to start a business, WalletHub compared the business-friendliness of more than 1,200 small-sized cities. A data set of 18 metrics determined the rankings and involved the main categories of business environment, access to resources and cost of doing business, which included the price of office space and the cost of labor. Cost of living was also a factor in the determination.
Other findings of the report showed Sandy, Taylorsville and South Jordan tied with three Midwestern cities for No. 1 in the accessibility of financial resources.