OKC: No. 1 best city to launch a startup

Wednesday, July 9, 2014

Access to funding, labor and the cost of living can make or break a new business. Based on a NerdWallet study, 10 cities have been named the best in the country to launch a startup.

OKC is ranked No. 1, CNN Money reports:

"If you have entrepreneurial dreams, you'll want to consider Oklahoma City. It nabbed the title of the best place to launch a small business last year, according to NerdWallet's second annual ranking.

"'Oklahoma City has seen a recent uptick in small business lending, which is helping to spur entrepreneurship there,' said Sreekar Jasthi, an analyst with NerdWallet, noting that it moved up from fifth place in 2012.

"The small business loans are bolstered by a low cost of living and relatively low income tax.

"'The ease of getting a business started here is another big sell,' said Susan Urbach, director of the University of Central Oklahoma Small Business Development Center. 'You can file all the paperwork online or head downtown and get it all done in a single morning.'

"The city's revitalized downtown and several new business accelerators are helping Oklahoma City attract new startups, particularly in healthcare, biotech and technology."

 Here's what NerdWallet had to say:

"Oklahoma City offers a low cost of living and unemployment rate and its banks lent the highest per capita monetary amount of small business loans of the 50 largest cities in the nation. Oklahoma City’s major industries include aviation, healthcare and biotechnology. The city is home to several small business incubators, such as i2E, Inc., a private not-for-profit that aids tech-based entrepreneurs and early stage businesses. The University of Central Oklahoma Small Business Development Center is another resource that provides training and support to local entrepreneurs."

Read more at CNN and NerdWallet.