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10 Fastest-Growing Cities for Small Businesses in the US

Nate Hovee / Getty Images/iStockphoto

Nate Hovee / Getty Images/iStockphoto

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.

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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.

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10. Philadelphia

  • Population: 5,649,300
  • Overall score: 8.29

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9. Marietta, Georgia

  • Population: 60,867
  • Overall score: 8.30
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8. Atlanta

  • Population: 5,449,398
  • Overall score: 8.30
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7. Bronx, New York

  • Population: 1,418,207
  • Overall score: 8.34

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6. Alpharetta, Georgia

  • Population: 67,213
  • Overall score: 8.35
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5. Minnetonka, Minnesota

  • Population: 54,064
  • Overall score: 8.40
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4. Elk Grove, California

  • Population: 174,775
  • Overall score: 8.51
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3. Folsom, California

  • Population: 81,328
  • Overall score: 8.54
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2. Bentonville, Arkansas

  • Population: 54,909
  • Overall score: 8.75
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1. Apex, North Carolina