Amarillo Named One of the Top 10 Best Places To Start A Business
Amarillo is considered one of the best places for entrepreneurship in the country.
Around 14% of working-age Americans start their own businesses. That's a huge number of people taking the risk of running a business without corporate support. Luckily for people in the Texas Panhandle, Amarillo has a great environment for that kind of risk.
Wallethub, an online financial resource, analyzed 150 different cities according to their entrepreneurial viability. They looked at 16 different metrics to understand the business environment in each city, including financing accessibility, office-space affordability, labor costs, cost of living, length of average work week, industry variety, average growth of number of small businesses.
Based on these metrics, Amarillo had one of the highest scores.
Amarillo ranked at #10 out of 150 for starting a business. We placed 1st for financial accessibility, 8th for office-space affordability, 70th for labor costs, 5th for cost of living, 4th for length of average work week, 19th for industry variety, and 33rd for average growth of number of small businesses.
West Texas A&M offers a degree in business entrepreneurship, so business-minded students in the Amarillo area can get the educational background they need to start a business.
For the original study by Wallethub, click here.
Read more here.