We always knew Minneapolis/St. Paul was a great city for small businesses. Now, a study shows that it ranks third on a list of major U.S. cities for small business employee success. That's right; Minneapolis is a great place to be and work for a small business.
The study was conducted by credit card research website, CardHub, and looked at factors such as job growth, average monthly earnings, area unemployment rate and and the cost of living.
Some interesting tidbits from the study:
- Out of the 30 cities on the list, Minneapolis has the least amount of job competition.
- Companies with 50 employees or fewer make up half the Minneapolis Chamber of Commerce membership.
- In the surrounding metro area, nearly 27 companies have fewer than 250 employees per 1,000 residents
- Minneapolis landed in the top 10 nationally for small business vitality, industry variety, and low job-related stress.
What city ranked number 1 on the list? Denver, Co. And the city that ranked the last for small business employee success is Detroit, MI.
To see more results from the study, check out this article that ran in Twin Cities Business. And if you are interested in learning more about small business ownership, check out our website; we have lots of great resources for you.
Tags: small business ownership, small business employees, small business owners, small business