Three Missouri cities, Springfield, Kansas City and St. Louis, are ranked in the top third of 2014’s best cities to start a business, according to WalletHub.
WalletHub looked at the opportunities for new businesses in the 150 largest U.S. cities in terms of population. Springfield came in at No. 24, Kansas City No. 29 and St. Louis No. 52.
The ranking is based on 14 different metrics, ranging from access to financing and cost of office space to employee availability and entrepreneurial activity.
“These metrics together encapsulate a city’s overall business friendliness by considering the level of overhead involved with opening a business there as well as the level of local business competition, the depth of the talent pool, and the cost of living,” WalletHub stated on its website.
WalletHub also ranked the top five cities in several categories. Springfield ranked No. 3 for most small business lending and affordability of office space, and ranked No. 4 for lowest cost of living.
WalletHub is a financial resource website for consumers and small business owners created by Evolution Finance Inc.