HOUSTON – Houston is home to the hustlers, but either a recent study didn’t get the memo, or The Space City is losing its edge.
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Researchers at WalletHub compared 100 U.S. cities to examine where the best help for aspiring entrepreneurs is. They looked at data ranging from the five-year business-survival rate, labor costs, and office-space affordability.
The results named four Texas cities among the top 20, and surprisingly, Houston wasn’t on that list. Instead, the Space City ranked 34th!
Austin, meanwhile, was named the third-best state to start a business, while Fort Worth was ranked 11th and Arlington and Dallas were named 15th and 16th, respectively.
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Orlando and Tampa, Florida apparently outranked Austin by taking the first and second place, but Washington D.C. was ranked the lowest to start a business.
“Starting a business can be very scary, considering one in every five startups doesn’t make it past the first year,” WalletHub Analyst Chip Lupo said in a written statement. “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.”
To see the full report and how other cities compared, click here.