May 14, 2014

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Article

Salt Lake Ranked Second Best City to Work for a Small Business

Press Release

May 14, 2014

Salt Lake City is the second-best city to work for a small business, according to a study by personal finance social network WalletHub. Provo ranked 41 and Ogden ranked 53.

The top 10 cities are:

1. Minneapolis, Minn.

2. Salt Lake City, Utah

3. Miami, Fla.

4. Madison, Wisc.

5. Oklahoma City, Okla.

6. TIE – Denver, Colo.

6. TIE – San Francisco, Calif.

8. Seattle, Wash.

9. Dallas, Texas

10. Indianapolis, Ind. 

For the study, the largest 100 metro areas in the country were evaluated based on 10 criteria:

  • Number of businesses with fewer than 250 employees per 1,000 inhabitants
  • Industry variety
  • Net small business job growth
  • Small business vitality
  • Average number of hours worked
  • Average monthly earnings for new hires
  • Unemployment rate
  • Average disposable income
  • Cost of living
  • Well-begin index

Salt Lake also ranked fourth-highest for average number of hours worked at small businesses per employee at 37.1 hours per week.

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