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Study: Akron attractive to entrepreneurs

Zillow Published: June 23, 2014 10:27 AM

By Nora Tooher

Entrepreneurs, take heed: Akron is one of the best cities in the country to start your business.

A study by WalletHub rates Rubber City as No. 94 on its list of 2014’s best cities to start a business.

Akron was among the five cities with the cheapest office space, at $12.92 a square foot. Cape Coral, Fla. has the cheapest office space, at $11.28 a square foot, followed by Toledo, $11.40; Springfield, Mo., $11.71 and Colorado Springs, Colo., $11.92.

The study analyzed more than a dozen factors, including five-year, new-business survival rate, affordability and cost of office space, access to financing, housing costs and the educational background of the local labor force among the nation’s 150 largest cities.

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Other Ohio cities deemed entrepreneurial-friendly were Columbus, No. 30; Toledo, No. 39; Cincinnati, No. 80 and Cleveland, No. 96.

Jacksonville, Fla., was deemed the best city in the country to start a business, followed by Fayetteville, N.C., second; Augusta, Ga., third; Jackson, Miss., fourth; Memphis, Tenn., fifth; New Orleans, sixth; Tulsa, Okla., seventh; Columbus, Ga., eighth; Cape Coral, Fla., ninth and Las Vegas, 10th.

Newark, N.J., was determined to be the worst city in the country to start a business. Other cities ranked as unfriendly to business startups were Providence, R.I.; Glendale, Garden Grove and Santa Ana, all in California; Seattle; Anaheim and Santa Clarita, Calif.; Jersey City, N.J.; and Ontario, Calif.

The study says that Salt Lake City provides the most local lending per small business, followed by Madison, Wis.; Springfield, Mo.; Lubbock, Texas; and Sioux Falls, S.D.

Laredo, Texas, has the lowest cost of living, followed by Greensboro, N.C.; Toledo; Springfield, Mo.; and Brownsville, Texas.

Irvine, Calif.; has the highest-educated workforce, followed by Overland Park, Kan.; Seattle; Madison, Wis.; and Plano, Texas.

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