Technology, Immigrant Entrepreneurship Fuel Growth
From Forbes:
As the immigration debate continues, a new study indicates that immigrant entrepreneurial zeal and technology are fueling much of the small business growth in America.
New York City is the Big Apple for small business, according to Biz2Credit’s 2017 study of the Top Small Business Cities. New York improved to the top spot after registering the highest average annual revenues, credit scores and length of time in business. The city's growth has been fueled by the booming real estate market, the construction industry, banking and finance, a thriving technology sector, and immigrant-owned service and food businesses.
The annual ranking of the 25 cities is based on a weighted average of data from 30,000 companies with fewer than 250 employees and less than $10 million in annual revenues that applied for financing last year. It looks at the health of small companies in each metro area, the rate of small-business creation, and the economic ecosystem for entrepreneurs, including the cost of doing business, tax climate and local talent pool.
New York City is the Big Apple for small business, according to Biz2Credit’s 2017 study of the Top Small Business Cities. New York improved to the top spot after registering the highest average annual revenues, credit scores and length of time in business. The city's growth has been fueled by the booming real estate market, the construction industry, banking and finance, a thriving technology sector, and immigrant-owned service and food businesses.
The annual ranking of the 25 cities is based on a weighted average of data from 30,000 companies with fewer than 250 employees and less than $10 million in annual revenues that applied for financing last year. It looks at the health of small companies in each metro area, the rate of small-business creation, and the economic ecosystem for entrepreneurs, including the cost of doing business, tax climate and local talent pool.
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