Main menu

Pages

Raleigh is ranked #1 as the best city to start an online business.Charlotte is second

featured image

Research Triangle Park – A new survey ranked Raleigh #1 and Charlotte #2, ranking them nationally as the best cities to launch an online business.

This report is from Business CenturyLink.com and considers a variety of criteria ranging from taxes to quality of life, Internet access and business environment.

A recent report from the North Carolina Department of Treasury shows that new business launches are progressing at a breakneck pace across North Carolina.

Below is CenturyLink’s report and the top 10 cities.

1. Raleigh, North Carolina

Raleigh is part of the North Carolina Research Triangle, located in central North Carolina. According to their website, Research Triangle is described as “…a region home to some of the world’s fastest growing businesses and communities.”

2. Charlotte, North Carolina

Charlotte is known as the “banking capital” as it is home to the Bank of America headquarters and Wells Fargo East Coast Division, and is known for the number of fintech companies headquartered in the city.

3. Austin, Texas

Austin has a population of 1,028,225. It is her 4th largest city in Texas and her 10th largest in the United States, and is known for the slogan “Keep Austin Weird.”

4. Seattle, Washington

Seattle has been named the #1 Best City for Business by Forbes magazine two years in a row (2018 and 2019). The city is home to two of the richest people on the planet: Amazon founder Jeff Bezos and Microsoft co-founder Bill Gates.

5. San Antonio, Texas

Texas has one of the best tax environments in the United States, with no personal or corporate income tax. Some of the best companies in San Antonio include HEB, Prologis, ServiceNow, Frost Bank and Pearson.

6. Richmond, Virginia

According to Forbes magazine, Richmond’s economy is primarily driven by law, finance, and government, with federal, state, and local agencies located downtown. Richmond ranked him ninth on the Quality of Life Index.

7. Dallas, Texas

In 2019, Forbes magazine ranked the city as the second best place to do business and career, and in 2020 as one of the best places to retire. Some of the best companies in Dallas include AT&T, Frito-Lay and Texas Instruments.

8. Jacksonville, Florida

Jacksonville, Florida has a population of 939,717. It is the largest city in Florida and her 14th largest city in the United States. Overall, Florida ranks fourth on the Tax Environment Index.

9. Madison, Wisconsin

Madison, Wisconsin ranks 6th on the quality of life index. Wisconsin received an A- rating in the 2020 Digital States Survey. The city’s population is 265,158, making it her second largest city in Wisconsin and her 86th largest city in the United States.

10. Oklahoma City, OK

The 2022 Tax Foundation has announced the signing of three bills in May 2022 that will reduce Oklahoma’s personal and corporate income tax rates. The tax amount will be reduced by 0.25 points. Corporate tax will also be reduced from 6% to 4%.

Reporting standards

The data points used to compile the report are:

Quality of Life Index – This list includes the 53 cities with the highest Quality of Life Index in the US Quality of Life Report. (Data last collected on April 19, 2022 and changes regularly). This variable is based on the average of the following variables: purchasing power index, safety index, health care index, cost of living index, real estate price-to-income ratio, transit time index, pollution index, and climate index.

tax rank – This variable was determined based on ranks provided by the Tax Foundation. Data includes 50 states and is based on 2022 state business tax climate index ranks and component ranks. The overall ranking uses corporate tax ranking, personal income tax ranking, consumption tax ranking, property tax ranking, and unemployment insurance tax ranking.

Economic Ranking – The US News data set provides data for this variable. They measured the state’s economic stability and potential based on the variables business climate, employment, and growth.

Average speed and broadband – This dataset contains the 50 US states listed in World Population Review’s “Average Internet Speed ​​by State 2022”. Internet speed is important because it measures the amount of data and information that can be transferred over the web on a single connection. Bandwidth measures the number of frequencies a network connection can handle.

Government Tech Grade – Variables created based on Government Technology’s biennial survey, Digital States Survey 2020. This study evaluates the state’s use of technology to improve service delivery, increase capacity, streamline operations, meet policy goals, and assign state grades based on quantified results. The results were based on a rating system, and for this reason the ratings had to be numbered according to the rating system.

  • A = 95
  • A- = 91.25
  • B+ = 88.75
  • B = 85
  • B- = 81.25
  • C+ = 78.75
  • C = 75

The North Carolina secretary of state says new businesses are launching at a “breakneck” pace so far in 2022.