Biz2Credit.com identified Denver as the third best city in its study – Best Small Business Cities in America. The results, according to Biz2Credit.com, are based on a weighted average that includes annual revenue, credit score, age of business (in months), cash flow, debt-to-income ratio, incorporation (C-Corp or LLC versus sole proprietorship) and business owners’ personal credit scores.
For the report, Biz2Credit defined “small businesses” as firms with fewer than 250 employees or less than $10 million in annual revenues. Biz2Credit analyzed 12,000 businesses that have been in operation for more than one year.
What has elevated this high-elevated city in the national poll? Small companies are thriving from offering technology strategies to selling mountain bikes to promoting environmental remediation services. Colorado is also in the forefront of the organic food movement.
The national winner for 2014 was the San Jose-Sunnyvale-Santa Clara region from the technology-rich Silicon Valley in California.
Here are the top 10 small business cities for 2014:
1. San Jose
4. Los Angeles-Long Beach-Anaheim
5. San Francisco-Oakland
6. La Vegas
7. New York metro area
9. Washington, DC
10. Miami-Fort Lauderdale-West Palm Beach
For the complete Top 25 cities ranking, click here.