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 businesses
o Percentage of businesses with paid employees
o Businesses per 100 people
Local economic health:
o Median annual income
o 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/blog/small-business/best-places-start-business-michigan/.
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/.