Las Vegas Sun

March 28, 2024

ECONOMY:

Las Vegas ranked among Top 10 cities to start a business

Despite its double-digit unemployment rate, nation-leading foreclosure rate and struggling tourism industry, Las Vegas earned an unexpected title this week when Entrepreneur Magazine listed the city as one of the Top 10 startup-friendly cities.

As difficult as the local economic situation is for many residents right now, the magazine declared that the economics worked in favor of small business and designated Las Vegas as “The Opportunity.”

While starting up a business can be cash-intensive, Entrepreneur Magazine said current conditions are driving down the prices of some of a startup business’ largest expenses.

“With commercial rents, cost of living and employee wages as low as they’ve ever been in modern memory, small businesses have a chance to do the cash-intensive phase of business development at discount rates,” the article stated.

Other cities in the top 10 were Portland, Ore.; Orlando, Fla.; San Diego; Phoenix; Chapel Hill, N.C.; Atlanta; Madison, Wis.; Youngstown, Ohio; and Austin, Texas.

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