New Ranking: Miami Overtakes New York as Best City for Small Business
The high costs for real estate and new regulations have pushed the city of Miami ahead of New York as the number one city in the United States for small business, according to a recently released ranking by Biz2Credit. The report was mentioned by Crains New York and the New York Post.
For the research, approximately 30,000 businesses with less than 250 employees and less than $10 million in annual revenues were examined. All of the companies had to be in business for more than a year.
With these criteria, Miami ranked at the top for growth, overtaking New York in the rankings since 2018. Business analysts informed to the Post that business owners are escaping high-cost cities such as New York to more attractive places.