Why you should move to the South to start your business

Personal Finance

If you’re thinking about starting a business, you may want to move.

Most of the top cities in America for economic opportunity are in the South, according to a recent study by Yelp, which used data from July to September, 2017.

Economic opportunity was determined based on the probability of the area’s businesses remaining open for the next three months. This was calculated by using business location, category, and other Yelp-related activity, such as how many people call the establishment or map directions to it.

A recent academic study released by Harvard professors shows that Yelp data can predict business growth, as measured by the Census Bureau, before official statistics are released, with its predictive power increasing with population density, income, and education level. The site has amassed 135 million reviews and tens of millions of users, often making it a better source of information on the economy than government data, says Carl Bialik, Yelp’s data science editor.

The top 10 cities in America for economic opportunity are:

1. Charlotte, NC
2. Jacksonville, FL
3. Omaha, NE
4. Orlando, FL
5. Charleston, SC
6. Las Vegas, NV
7. Tampa, FL
8. Dallas, TX
9. Salt Lake City, UT
10. Houston, TX

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