HomeBusinessBest US Cities to Start a Business, Entrepreneurship: Report

Best US Cities to Start a Business, Entrepreneurship: Report

What metropolis is greatest for beginning your online business? Whereas a number of components ought to play into a call, a brand new report from fintech firm SumUp has recognized the highest 10 for entrepreneurship primarily based on tax knowledge, the variety of millionaires within the metropolis, and even Google searches.

New York topped the checklist due to the alternatives it presents throughout industries, from tech to vogue, and its 4% gross sales tax, which was the bottom of the group. New Yorkers additionally regularly Google “the way to get wealthy” and “the way to make it in enterprise,” the examine discovered. The town additionally presents entry to over 30 WeWork coworking areas, probably the most of all of the cities within the report, which theoretically might assist startup staff collaborate.

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Chicago got here in at No. 2, with SumUp researchers highlighting its 120,500 millionaires and excessive curiosity in entrepreneurship by way of tracked Google searches. Additionally they discovered that Chicago stood out for finance startups.

Rounding out the highest three was Miami, “the place the climate is heat and taxes are low,” in response to the examine. Journey, tourism, and commerce startups thrive on this metropolis, which has 0% private earnings and capital features tax.

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This is a whole checklist of the highest ten cities for entrepreneurship, in response to the report.

1. New York

Variety of millionaires: 349,500

Private earnings tax – highest earnings: 10.90%

Gross sales tax: 4.00%

2. Chicago

Variety of millionaires: 120,500

Private earnings tax – highest earnings: 4.95%

Gross sales tax: 6.25%

3. Miami

Variety of millionaires: 35,300

Private earnings tax – highest earnings: 0.00%

Gross sales tax: 6.00%

4. Los Angeles

Variety of millionaires: 212,100

Private earnings tax – highest earnings: 13.30%

Gross sales tax: 9.50%

5. Dallas

Variety of millionaires: 68,600

Private earnings tax – highest earnings: 0.00%

Gross sales tax: 6.25%

6. Austin

Variety of millionaires: 32,700

Private earnings tax – highest earnings: 0.00%

Gross sales tax: 6.25%

7. Houston

Variety of millionaires: 90,900

Private earnings tax – highest earnings: 0.00%

Gross sales tax: 6.25%

8. Seattle

Variety of millionaires: 54,200

Private earnings tax – highest earnings: 0.00%

Gross sales tax: 6.50%

9. Washington

Variety of millionaires: 28,300

Private earnings tax – highest earnings: 10.75%

Gross sales tax: 6.00%

10. Boston

Variety of millionaires: 42,900

Private earnings tax – highest earnings: 9.00%

Gross sales tax: 6.25%

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