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Some businesses plan to choose their headquarters at major metropolitan areas and some do not. It is generally felt that small venues are found to be the best places for small businesses. According to the Forbes study in combination with Moody’s Economy.com, it was found that small places having populations of less than 245,000 were found to be the best for businesses. Cost of living, educational possibilities, cost of doing business, income growth, and projected economic growth were found to be dominated in the MidWest. Sioux Falls was found to be the only city which ranked top in at least eight categories out of 12 among the 25 cities of the Forbes survey. About $10.9 billion of gross metro product was observed in Sioux Falls which is the largest of all the small metros surveyed.
Low business costs and strong employment prospects were observed at the best small American cities mostly at localities between the two coasts. The survey revealed that no individual and corporate income taxes were observed at South Dakota. The research also found Iowa as a treat place for small businesses.
The study listed some areas as the best places for small businesses. Business costs were found to at least 16 percent below the national average at those places. Crime rates were also less than 16-percent. A steady highly educated labor was churned out in those cities.
The list of top best 25 places for small businesses according to the Forbes survey includes Sioux Falls, S.D.; Iowa City, Iowa; Manhattan, Kan.; Bismarck, N.D.; Logan, Utah; Auburn, Ala.; Bend, Ore.; Columbia, Mo.; Fargo, N.D.; Morgantown, W.V.; Rapid City, S.D.; Lafayette, Ind.; Waterloo, Iowa; Sioux City, Iowa; Dubuque, Iowa; Bloomington, Ind.; Ames, Iowa; Charlottesville, Va.; Corvallis, Ore.; College Station, Texas; Lawrence, Kan.; St. George, Utah; Santa Fe, N.M.; Greenville, N.C.; and Billings, Mont.