PROVIDENCE – The city is not the best place to start a business.
In fact, it’s the second-worst large city in the nation to start one, ahead of only Ontario, Calif., according to the latest study by personal-finance website Wallethub.
WalletHub looked at the 150 most-populated U.S. cities to come up with its findings, naming Sioux Falls, S.D., the best place to start a business, Grand Rapids, Mich., second best, and Oklahoma City, third best.
WalletHub said it conducted the study to help aspiring entrepreneurs. It ranked cities across 16 key metrics, including five-year survival rate, office-space affordability, length of average workweek and percentage of the population with bachelor’s degrees, as well as the number of startups per 100,000 residents.
In subcategories of business environment and costs, Providence ranked 149th and 100th, respectively. In the access-to-resources subcategory, it fared better, coming in 29th best. •