The City Beautiful was ranked as the best large city in the country in which to start a business, edging out three other cities from the Sunshine State.
Orlando took the top spot in Wallethub’s 2023 Best Large Cities to Start a Business.
In order to create the list, the company compared startup opportunities that exist in 100 U.S. cities across three key dimensions: Business Environment, Access to Resources, and Business Costs. The dimensions were evaluated using 19 different metrics, including length of average work week, venture investment, office-space affordability, and cost of living, among many others.
Orlando ranked #2 in Business Environment, #14 in Access to Resources, and #26 in Business Costs, according to the ranking list.
Although ranking near the top of the list for multiple categories, Orlando ranked dead last for “Availability of Human Capital,” echoing city officials who have touted the availability of high paying jobs across a multitude of industries.
The top four spots were all taken by cities in Florida, with Jacksonville coming in second, Miami in third, and Tampa in fourth. Hialeah, which ranked #22, was the only other city in Florida to make the list.
On Friday, Mayor Buddy Dyer and Orlando City Council commissioners designated April 30 to May 6 as National Small Business Week in the city of Orlando.
“From restaurant owners to high-tech movers and shakers, the city earned the top spot for offering opportunities for long-term prosperity in in areas such as business-survival rate, labor costs and office-space affordability,” reads a statement from the city in reference to its ranking on Wallethub’s list.
For more information on resources for small businesses in Orlando ,visit the city of Orlando Business Incentives webpage.
To read the complete list of cities, visit the Wallethub 2023 Best Large Cities to Start a Business webpage.