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Wilmington Ranks as 2nd Best City in U.S. to Start a Business

An analysis of 183 metropolitan areas ranks Wilmington as the second-best city in the U.S. to start a business. The report, released by San Francisco-based financial planning website NerdWallet, looked at metro areas with 15,000 or more businesses and populations of more than 250,000. The ranking was based on six factors: the average revenue of businesses; the percentage of businesses with paid employees; the number of businesses per 100 people; the median annual income; median annual housing cost, and unemployment rate.

Boulder, Colorado ranked No. 1. All of the cities in the top 10 are in smaller markets of less than 1 million in population. Wilmington’s population is 259,815.

The report stated this about Wilmington:

“A growing population, strong tourism industry and proximity to the beach make this port city ideal for businesses. Wilmington has about 15 businesses for every 100 people — the highest volume of businesses in our top 10. Nearly 900 of those businesses are downtown, including Flytrap Brewing, a craft brewery, and Fuzzy Peach, a frozen yogurt chain started by three friends who met at the University of North Carolina-Wilmington. Businesses can join the Wilmington Chamber of Commerce to get listed in its business directory, attend training seminars and go to biannual business-to-business networking expos.”

Other NC cities on the list included: Asheville at No. 48, Durham-Chapel Hill at No. 57, Greensboro-High Point at No. 69, Raleigh-Cary at No. 73, Hickory-Lenoir-Morganton at No. 144, Charlotte-Gastonia-Concord at No. 146, Winston-Salem at No. 152 and Fayetteville at No. 175.