ALBANY, GA (WALB) - City size matters when choosing a launching pad for a startup. And as many veteran entrepreneurs — and failed startups — understand well, bigger is not always better.
Depending on an entrepreneur's type of business and personal preferences, a city with a smaller population can be a better option.
Smaller town might offer lower overhead costs, stronger relationships with customers and the potential to become a big fish in a little pond are among the benefits. But entrepreneurs seeking to cultivate a large professional network aren't likely to fill their roster in a town with fewer residents.
Other restrictions might include limited industry options, a less diverse customer base and difficulty attracting top talent.
South Georgia is not seen as a very good place for a new business. Valdosta was the best in the list at about 250. Albany was just below the top 300.
WalletHub's analysts compared the business-friendliness of 1,268 small-sized cities to identify the best overall for launching an enterprise. They looked at 15 key metrics ranges from "average growth in number of small businesses" and "prevalence of investors" to "office-space affordability" and "corporate taxes."