June 5, 2015 – Midland is a great place to hang out a shingle! So says consumer finance resource NerdWallet, which conducted a study to find the best places in Michigan to start a business.
Out of 128 places studied, Midland ranked fifteenth. To determine this ranking, NerdWallet looked at areas with populations of 5,000 or more and analyzed the following factors:
o Average revenue of businesseso Percentage of businesses with paid employees
o Businesses per 100 peopleLocal economic health:
o Median annual incomeo Median monthly housing costs
o Unemployment rate
Midland boasts steady numbers across all variables in the study. Per NerdWallet, recent statistics showed our community has a population of 42,153; a total of 3,160 businesses, which feature high average revenue per business ($5,207,409); and a low unemployment rate (4.2%).
“Midland is proud to offer a pro business environment, which helps make this an attractive community for those considering opening, relocating, or expanding a business,” said Midland Mayor Maureen Donker. “Collaboration among all different organizations helps keep Midland a thriving, desirable place for all.”
Other cities in the top 20 include Troy, Grand Blanc, and Walker. To view the full study, visit www.nerdwallet.com.
NerdWallet is an online resource for information, insight, and consumer-driven advice about personal finance. To learn more about NerdWallet Small Business, visit www.nerdwallet.com/blog/small-business-loan-guide/.