Charlotte Ranked 2024’s 3rd Best Large City to Start a Business

by NAMA NYA ADMIN | Posted on




With April 28 kicking off National Small Business Week, the personal-finance website WalletHub today released its report on 2024’s Best Large Cities to Start a Business, in order to help entrepreneurs find the right places for their startups to thrive.

WalletHub compared 100 U.S. cities across 19 key indicators of startup viability. The data set ranges from the five-year business-survival rate to labor costs to office-space affordability.

Starting a Business in Charlotte (1=Best; 50=Avg.):

  • Overall Rank: 3rd
  • 9th – Growth in Number of Small Businesses
  • 33rd – Cost of Living
  • 14th – Length of Average Workweek (in Hours)
  • 22nd – Share of College-Educated Population
  • 4th – Industry Variety

In addition to Charlotte being ranked #3 overall, Raleigh (#11), Durham (#9), and Winston-Salem (#15) ranked among the best in the nation for starting a business.

Best Places to Start a Business

Overall Rank  City Total Score  Business Environment Rank  Access to Resources Rank  Business Costs Rank 
1 Orlando, FL 68.22 1 13 29
2 Tampa, FL 62.73 4 39 26
3 Charlotte, NC 62.07 11 20 30
4 Jacksonville, FL 62.00 5 68 13
5 Miami, FL 61.92 2 52 55
6 Atlanta, GA 60.09 10 35 36
7 Fort Worth, TX 59.50 8 18 66
8 Austin, TX 59.37 3 17 81
9 Durham, NC 59.29 42 3 21
10 St. Petersburg, FL 58.04 7 93 19
11 Raleigh, NC 58.00 40 7 32
12 Arlington, TX 56.86 12 47 65
13 Colorado Springs, CO 56.65 26 71 17
14 Dallas, TX 56.41 13 46 67
15 Winston-Salem, NC 56.22 50 62 2
16 Lubbock, TX 56.17 51 4 50
17 Hialeah, FL 55.97 6 100 28
18 Boise, ID 55.91 14 80 45
19 Reno, NV 55.27 45 12 48
20 Aurora, CO 55.24 19 83 27
21 Denver, CO 55.14 28 32 56
22 Scottsdale, AZ 55.08 9 64 77
23 Irving, TX 55.04 17 24 75
24 San Bernardino, CA 54.89 20 65 58
25 Oklahoma City, OK 54.59 55 37 5
26 Tulsa, OK 54.28 63 50 1
27 Phoenix, AZ 54.04 21 75 46
28 Chandler, AZ 53.77 16 78 69
29 Gilbert, AZ 53.55 15 72 76
30 Nashville, TN 53.26 22 42 70
31 Laredo, TX 52.93 60 10 49
32 Stockton, CA 52.71 46 16 68
33 North Las Vegas, NV 52.67 30 82 39
34 Indianapolis, IN 52.66 53 66 10
35 Mesa, AZ 52.32 25 92 40
36 Glendale, AZ 51.33 24 99 37
37 Madison, WI 51.19 81 2 53
38 Houston, TX 50.94 36 74 59
39 Henderson, NV 50.88 33 85 52
40 Riverside, CA 50.84 29 43 80
41 Fresno, CA 50.68 52 31 62
42 Louisville, KY 50.36 77 19 16
43 Garland, TX 50.34 23 87 71
44 Columbus, OH 50.25 66 30 41
45 Fort Wayne, IN 50.15 74 63 6
46 Kansas City, MO 50.10 73 49 9
47 Irvine, CA 50.04 35 1 97
48 Plano, TX 50.00 18 48 89
49 Tucson, AZ 49.88 70 38 22
50 Greensboro, NC 49.82 83 54 3
51 Las Vegas, NV 49.70 43 91 34
52 Omaha, NE 49.64 67 28 38
53 El Paso, TX 49.37 56 86 42
54 Chicago, IL 49.23 57 14 78
55 Sacramento, CA 49.17 38 56 79
56 San Antonio, TX 48.94 49 76 60
57 Lincoln, NE 48.70 90 9 33
58 Seattle, WA 48.65 32 8 96
59 Wichita, KS 48.40 91 23 11
60 Birmingham, AL 48.38 79 69 7
61 Long Beach, CA 48.23 39 27 86
62 Baton Rouge, LA 48.09 85 25 25
63 Norfolk, VA 48.00 64 90 20
64 Los Angeles, CA 47.87 34 29 90
65 Virginia Beach, VA 47.76 65 73 44
66 New Orleans, LA 47.45 71 45 43
67 Bakersfield, CA 47.24 59 59 74
68 Boston, MA 47.20 69 6 83
69 Minneapolis, MN 46.28 78 21 64
70 San Diego, CA 46.17 37 34 92
71 Chesapeake, VA 46.13 54 96 51
72 Albuquerque, NM 45.87 72 95 12
73 Milwaukee, WI 45.66 89 58 24
74 Memphis, TN 45.47 75 79 35
75 St. Paul, MN 45.40 76 55 57
76 Santa Ana, CA 45.10 31 94 85
77 Detroit, MI 45.08 88 88 8
78 San Francisco, CA 44.98 27 11 100
79 Portland, OR 44.79 61 40 84
80 Cincinnati, OH 44.48 92 53 31
81 Honolulu, HI 44.27 93 5 72
82 Philadelphia, PA 44.16 80 61 63
83 Buffalo, NY 44.04 98 60 15
84 Anchorage, AK 44.02 41 97 82
85 Oakland, CA 43.84 47 33 95
86 Newark, NJ 43.81 86 22 73
87 Lexington-Fayette, KY 43.67 94 36 23
88 Toledo, OH 43.56 96 70 14
89 Anaheim, CA 42.94 48 81 87
90 Chula Vista, CA 42.74 44 77 91
91 Jersey City, NJ 42.01 68 15 93
92 Baltimore, MD 41.96 87 89 47
93 Cleveland, OH 41.43 97 84 18
94 Corpus Christi, TX 41.06 82 98 54
95 St. Louis, MO 40.89 100 67 4
96 New York, NY 40.32 84 26 88
97 Pittsburgh, PA 40.09 99 57 61
98 San Jose, CA 38.01 58 51 98
99 Fremont, CA 37.00 62 41 99
100 Washington, DC 33.63 95 44 94

Note: With the exception of “Total Score,” the columns in the table above depict the relative rank of each city, and a rank of 1 represents the best conditions for each category.

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