Many of these companies can easily allow their employees to work from home, which actually has been proven to increase productivity. The Top 10 metro areas by Annual Revenue (*Average annual revenue measured during 2020):
Small businesses in technology hubs are booming. Places that were ranked on the 2019 list but fell off the 2020 list this year were: Austin (15), Milwaukee (17), Cincinnati (19), Pittsburgh (23), and Atlanta (24). Louis, and San Antonio were unranked in the 2019 study. It benefits from being in a state where coronavirus mitigation restrictions on business were less severe.įor this analysis, "small businesses" were defined as companies having fewer than 250 employees or less than $10 million in annual revenues. The Top 25 Cities for Small Business in 2020 (with 2019 ranking in parenthesis) are:
Just two years ago, it was the number one small business city in the country, and it is still near the top of the list. Miami, with its diverse economy, remains high ranking. The technology industry in Silicon Valley continues to thrive, and San Jose is in the center of it all. San Jose, CA, a major hub for the technology industry, has benefitted and maintained a robust economy for small businesses despite the pandemic. Although real estate industry experts say suburban markets are booming because city dwellers want to escape the population density of urban areas and are able to work from home, new research highlights that strong economic fundamentals in big cities keeps them vibrant and attractive for small business.
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