RALEIGH – Tech giants Apple and Google are making big moves in the Triangle market, but entrepreneurs are, too. Durham ranks second and Raleigh seventh in a new survey of best cities to start a business, says financial information site WalletHub.
But the Triangle’s not the only region in North Carolina where entrepreneurs can find a business-friendly environment. Charlotte came in at No. 6.
And the state’s entrepreneurs are looking for opportunities. New businesses were launched at a record pace in 2020—nearly 127,000, according to the North Carolina Secretary of State’s Office.
As the US economy continues to recover from the pandemic, entreprepreneurs are looking to create their own ways to achieve independence. The WalletHub analysis took into consideration “five-year business-survival rate to COVID-19 cases to office-space affordability,” among others.
The Triangle and the Queen City scored well.
Based on data spread across 21 categories, Durham scored 63.95 points out of 100 possible.
The Bull City scored best for “access to resources” at No. 14 nationally. Durham placed 18th for business costs and 31st for overall business environment.
North Carolina’s capital received nearly 63 points. Charlotte scored slightly better.
“[N]ow is one of the toughest times ever for business owners in the U.S. due to the COVID-19 pandemic, which has made 61 million small-business owners regret starting a business,” WalletHub notes, citing a recent survey.
Yet startups keep being launched.
Here are the top 10 cities for startups: