St. Louis Metro Area Dominates As Best Place to Start a Business
NerdWallet, a consumer finance website, has conducted a study to find the best places in Missouri to start a business – and the St. Louis metro area lead the list.
To determine this ranking, NerdWallet examined 117 places in Missouri with populations of 5,000 or more and analyzed the following factors:
- Business climate
- Average revenue of businesses
- Percentage of businesses with paid employees
- Businesses per 100 people
- Local economic health
- Median annual income
- Median monthly housing costs
- Unemployment rate
In looking at the best places to start a business in Missouri, NerdWallet found that all cities ranked in the top 10 are in close proximity to St. Louis. The farthest one, Ellisville, is over 20 miles from St. Louis, and no places beyond a 25-mile radius of the larger city made the cut. Creve Coeur ranked first out of 117 cities. Located about 15 miles from St. Louis, the city boasted impressive numbers across all categories. A low unemployment rate of 3.8%, and the second-highest number of businesses per 100 residents creates a healthy and strong business environment in Creve Coeur, encouraging aspiring entrepreneurs to make the city their new business’s home.
Other cities in the top 10 include Clayton and Sunset Hills. See the full study here.