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St. Louis makes huge jump into ranking of top cities for entrepreneurs in US

St. Louis is No. 2, which is a 20-spot jump from last year's ranking by the online resource for small businesses

May 03, 2019 - 9:12 am
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ST. LOUIS (KMOX) - Touting a low cost of living, a number of resources for startups and the nation’s highest business survivability rating, St. Louis is the second-best city in the U.S. for entrepreneurs, according to FitSmallBusiness.com

It's quite the improvement for St. Louis, which jumped 20 spots from last year's ranking by the online resource for small businesses. 

FitSmallBusiness says the ranking was weighted by factors like "extensive financing options, supportive business cultures, and skilled workers who can be recruited to grow your startup."

Last year, St. Louis was No. 22 on the list, but even then was known as one of the most-dense cities for startups in the U.S.

Here's what they said about our city this year: 

"St. Louis lands as the second-best city for entrepreneurs thanks to its high business survivability, lower-than-average tax rate, and very low cost of living. While this may seem surprising to aspiring startup owners who equate bigger cities like San Francisco with entrepreneurship, St. Louis’s affordability and undersaturation make it the ideal proving ground for new businesses.

St. Louis not only has the nation’s highest business survivability rating at 85.32% — compared to the national average of 79.27% — but it also ranks as one of the top 10 cities in the U.S. for millennial entrepreneurs. About 40 percent of new ventures are started by millennials and 42% by Gen Xers, according to Lending Tree. The city also boasts a number of startup resources, such as Accelerate St. Louis, a business accelerator, and EQ, a media platform dedicated to startups."

Here's the rest of the top-10 in the ranking:

1. Seattle
2. St. Louis
3. Denver
4. Detroit
5. Nashville, Tennessee
6. Salt Lake City
7. Portsmouth, Vermout 
8. Boston
9. Austin, Texas
10. Sioux Falls, South Dakota

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