Many startups begin wherever their founders are living at the time their brilliant ideas are launched. But what if an entrepreneur were in location flux, looking for a spot to hang a hat and get to work?

Good cities for startups are ones that invest in entrepreneurs through incubators, accelerators and mentor networks. These cities attract not just one startup, but lots of them, creating a community of like-minded strivers.

WalletHub, a credit-score provider and financial services company that provides research reports across a broad spectrum of money-related topics, recently ranked large U.S. cities by how well they support startups.

Using 19 key metrics in three areas—business costs, access to resources and the business environment—WalletHub compared the relative startup opportunities in 100 of the nation’s largest cities.

When looking at business costs, WalletHub considered the affordability of office space, labor costs, corporate taxes and a city's cost of living. When it came to resource access, the company looked at such things as financing accessibility, the prevalence of investors, the working-age population growth and human capital availability.

And finally, as WalletHub considered a city's business environment, it looked at such measures as the five-year business survival rate, startups per capita, the length of an average work week, industry variety and the average growth in the number of small businesses.

Of course, a lot goes into choosing where to launch a startup. Many entrepreneurs take other things into account when figuring out where they hope to launch: their personal social networks, for instance, or where their kids go to school or how close they want to be to aging parents.

But if all else is equal, why not choose based on taxes, office-space affordability and access to talent?

The data for the ranking was collected April 2, 2024, and was provided by the U.S. Census Bureau, the Bureau of Labor Statistics, the Ewing Marion Kauffman Foundation, the National Venture Capital Association, Yelp,, the Tax Foundation, the Council for Community and Economic Research, LoopNet, the Federal Deposit Insurance Corporation, as well as from other WalletHub research.

10. St. Petersburg, Fla.

The first of five Florida cities to make it into the Top 10, St. Petersburg’s position was secured by the city’s landing seventh in the business environment ranking. It also claimed a strong entry as the 19th best city to start a business in terms of business costs.

And it’s a good thing the city’s showing in those two areas was as strong as it was, because when it came to the ranking for access to resourses, St. Petersburg landed a dismal 93rd out of the 100 cities.

Areas of strong development in the Sunshine City include data analytics, financial services, specialized manufacturing, marine and life sciences and creative arts and design, according to the city’s economic development corporation.

In addition, Travel + Leisure named St. Pete as one of the best American cities in which to live.