Report: Springfield again among best cities to start a business

Springfield ranked 11th on personal finance website WalletHub.com’s 2017 list of the best 150 large cities to start a business.

The study examined several factors summarized in three categories: business environment, which counts toward 50 of 100 possible points; and access to resources and business costs, both of which have 25 points possible.

The Queen City scored 52.6 overall. It placed first in business costs, 64th in access to resources and 91st in business environment, according to WalletHub. Last year, Springfield ranked eighth overall, which was down from third in 2015.

Springfield’s 2017 detailed rankings:
    •    second in office-space variety;
    •    fifth in industry variety;
    •    ninth in cost of living;
    •    ninth in startups per capita;
    •    11th in labor costs;
    •    12th in financing accessibility; and
    •    33rd in prevalence of investors.

The top-ranking city was Oklahoma City, which scored 56.85 out of 100. Other Missouri cities on the list were St. Louis, at No. 7, and Kansas City, at No. 32.

Last week, Springfield ranked ninth on WalletHub’s list of the 150 best U.S. cities for Hispanic entrepreneurs.

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