Orlando, Florida rated best city in America to start a business, list of top 10

Cities across America offer varying advantages for entrepreneurs looking to start new businesses, according to a new study.

WalletHub recently ranked the best cities to start a business, from restaurants to high-tech ventures. The study compared 100 U.S. cities based on their potential for long-term business success. You can read more about the methodology here.

“Starting a business can be very scary, considering one in every five startups doesn’t make it past the first year,” said Chip Lupo, Wallethub analyst. “That’s why it’s especially important to live in a city that provides an environment where new businesses can thrive, with enough capital, workers and customers to keep it going long-term.”

Orlando, Florida, takes first place for best large cities to start a business. Orlando has seen a higher rate of small business growth compared to most other major U.S. cities.

According to the Kauffman Early-Stage Entrepreneurship Index, startups in Orlando have a high survival rate, largely due to the city’s high number of investors per capita, which helps new businesses secure the funding they need. The city also has a growing working-age population, providing a robust talent pool for new employers.

The second spot on the list of best cities for starting a business is Tampa, Florida. Corporate tax rates here are low, which allows businesses to pocket more revenue. Similar to Orlando, Tampa has a high number of investors per capita. It also scores very high on the Entrepreneurial Activity Index, meaning that many startups in Tampa have a high survival rate.

Austin, Texas ranks third among the best cities to start a business. The city boasts one of the highest rates of venture capital investment per capita in the nation, creating opportunities for various types of businesses to thrive. Austin also has a large population of college-educated residents, which can offer new businesses qualified employees to hire, along with the city having the best employment growth in the country.

Here’s the list of the 10 best cities to start a business in America:

1. Orlando, Florida

Business Environment Rank: 1Access to Resources Rank: 36Business Costs Rank: 35

2. Tampa, Florida

Business Environment Rank: 4Access to Resources Rank: 10Business Costs Rank: 37

3. Austin, Texas

Business Environment Rank: 2Access to Resources Rank: 4Business Costs Rank: 81

4. Jacksonville, Florida

Business Environment Rank: 5Access to Resources Rank: 76Business Costs Rank: 18

5. Miami, Florida

Business Environment Rank: 3Access to Resources Rank: 57Business Costs Rank: 51

6. St. Petersburg, Florida

Business Environment Rank: 6Access to Resources Rank: 56Business Costs Rank: 29

7. Boise, Idaho

Business Environment Rank: 10Access to Resources Rank: 44Business Costs Rank: 45

8. Atlanta, Georgia

Business Environment Rank: 14Access to Resources Rank: 16Business Costs Rank: 48

9. Raleigh, North Carolina

Business Environment Rank: 24Access to Resources Rank: 7Business Costs Rank: 38

10. Hialeah, Florida

Business Environment Rank: 8Access to Resources Rank: 81Business Costs Rank: 22Did any Alabama city make the list?

According to Wallethub’s list of best cities to start a business, one Alabama city made the cut. Birmingham, Alabama ranked 36 out of 100, beating each city in the top 10 of best cities to start a business for its low business costs rank (3). Wallethub scored Birmingham 82 in business environment and 33 in access to resources.