Thinking about starting a business? You may want to consider moving.
Holland, Michigan was rated the best small city for starting a business for the second year in a row, in a report released Monday by WalletHub. The personal-finance website evaluated business conditions in more than 1,200 small U.S. metropolitan areas on 18 metrics, including average growth in number of small businesses and cost of living.
Cities across the Midwest made the list of best places overall for starting a business, and several ranked high in categories including cheapest office space and lowest labor costs.
In case the Midwest isn't for you, consider relocating to Utah. Clearfield, St. George, and Ogden all made the top 10 on this year's list. What's more, three other cities in the state were among the best for accessing financing.
If launching a startup evokes romantic images of moving to California, you may want to look more closely--WalletHub found some of the state's cities had undesirable characteristics. For example, the top six cities with the most expensive office spaces are all based in California, including Cupertino, Mountain View, and Menlo Park. Additionally, several of the state's metropolitan areas have the lowest average revenue per business, as well as the highest labor costs.