WalletHub: Prov. 16th worst city to start a business

OUT OF 150 CITIES, Providence ranks 135th, or 16th worst, on a list of the best cities to start a business, according to personal finance website WalletHub. / COURTESY WALLETHUB
OUT OF 150 CITIES, Providence ranks 135th, or 16th worst, on a list of the best cities to start a business, according to personal finance website WalletHub. / COURTESY WALLETHUB

PROVIDENCE – Providence is the 16th worst city to start a business, according to the latest survey by WalletHub, which ranked the nation’s 150 most populous cities.
The personal finance website said it ranked cities to help aspiring entrepreneurs, ranging from “restaurant owners to high-tech movers and shakers,” maximize chances for long-term prosperity.
WalletHub studied such things as businesses’ five-year survival rate, affordability of office space and the education level of the local labor force to come up with its findings.
While Providence ranked 135th overall on the list, it fared better on the access to resources subcategory, coming in at No. 75. However, it was next to last on the business environment rank subcategory.
In another category, Providence was among the top five cities for shortest average workday.

Shreveport, La., placed first for best city to start a business. Newark, N.J., came in last.

New England in general did not fare well on the list. Worcester, Mass., was the first New England city to crack the top 100, coming in at 96th. Boston, in comparison, ranked 115th.

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