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10 Fastest-Growing Cities for Small Businesses in the US

November 29, 2022

2 min Read

Written by Gabrielle Olya

Edited by Molly Sullivan

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The combination of COVID-19 pandemic-related job losses followed by the Great Resignation has been a boon for the rise of small businesses. A recent report from Intuit found that 83% of people who want to start a business said COVID-19 has accelerated their plans. And based on the report’s findings, Intuit predicted that 17 million new small businesses would be formed in 2022, which would make it a third consecutive record year for entrepreneurship.

For those looking to start their own business, where you open up shop could be the key to success. To determine the fastest-growing cities for small businesses, OpenPhone analyzed 1,000 cities across the following factors: (1) year-over-year population growth, (2) number of new business formation applications filed in each county, (3) startup survival rate and (4) small business funding from 2019/2020 to 2021. Based on this analysis, these are the top 10 fastest-growing cities for small businesses.