When it comes to starting a new business, cost is a major factor in success. Fortunately for local entrepreneurs, Houston is one of the most affordable cities to launch a startup, according to a new report.
The Houston metro area ranks No. 6 in the nation on Clever Real Estate’s list of affordable cities for starting a business. The group examined the 50 most populous metros based on seven key metrics: startup density, startup growth, investment in businesses, employment at startups, self-employment, education and cost of living. Houston scored highest on startup growth (No. 6 overall) and investment in business or access to venture capital and private equity (No. 6).
According to Clever Real Estate: “Location influences whether you can build a productive team, as you'll need access to talented individuals who meet your company's needs, like a young, well-educated population, or be located in a place that's desirable and affordable to live.”
Texas did well on the report overall, with four of the top 10 metros on the list coming from the Lone Star State.