San Francisco and Oakland have woken up and smelled the coffee. The coffee shop business has boomed since the start of the 21st century in the Bay Area. A report done by the Scarborough Local Market Ranking for Coffee Bar Patrons the Bay Area is the leader in the country with an average percentage of 26 of adults who visit the shops. Second nationally is the renowned coffee area of Seattle-Tacoma, which reports 23 percent.
Technology is another sector that thrives in the San Francisco-Oakland area. Business growth in the Golden State has landed a number of California cities on Biz2Credit.com’s Top 25 Cities for Small Business. Not too far from this area is the national leader for 2014 — the Silicon Valley region of San Jose-Sunnyvale-Santa Clara in California.
Biz2Credit’s study is 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.
Biz2Credit defined “small businesses” as having 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.
Last year’s top city for small businesses, Houston, fell from #1 to #15. Here are the Top 10 small business cities for 2014, according to Biz2Credit.com:
1. San Jose
4. Los Angeles
5. San Francisco-Oakland
6. La Vegas
7. New York City
9. Washington, DC
10. Miami-Fort Lauderdale-West Palm Beach
For the complete Top 25 rankings, visit here.