Madison Named Second Best City for Young Entrepreneurs
PRESS RELEASE: November 18, 2014
San Francisco, CA (November 18, 2014) – NerdWallet, a personal finance website, recently conducted a study to find the best cities for young entrepreneurs in the nation – and Madison made the top 10.
To determine the best cities for young entrepreneurs, NerdWallet analyzed eight critical factors:
- Commercial and industrial loans per capita
- Number of businesses per 100 people
- Percent of population 25-34
- Percentage of 25+ population with a bachelor’s degree or higher
- Per capita income
- Unemployment rate
- Cost of Living Index
NerdWallet ranked Madison as the second best city for young entrepreneurs in the nation. Young entrepreneurs in Madison benefit from one of the highest per capita rates of small business loans — $799 per loan — in any major city. Living in Madison is also relatively affordable compared to other large cities, and the metro area’s unemployment rate of 3.4% is a strong sign of economic health. Early-stage entrepreneurs can find support at local resources such as gener8tor, an accelerator for startups.
Other great cities for young entrepreneurs include Raleigh, Austin, and Denver. Read the full study online.
For more information about NerdWallet, visit www.nerdwallet.com.
NerdWallet is a consumer-friendly financial literacy website that helps consumers make better financial decisions and save money on CD rates, checking accounts, credit cards and more. NerdWallet has been featured in The New York Times, Wall Street Journal and Reuters.