St. Cloud Top Minnesota Small City to Start a Business In

(KNSI) – St. Cloud is the best-performing Minnesota city on a new list from WalletHub that ranks the top places to start a business.

In total, over 1,300 small cities, those under 100,000 people, were considered from across the country. St. Cloud clocked in at #254. Of the three broad categories used to determine the rankings, St. Cloud did best in Access to Resources, where it placed in the top 50.

WalletHub scored the category by looking at overall job growth, the number of residents with a bachelor’s degree, the presence of St. Cloud State University, the ease with which a startup can get funding, and the number of investors.

Greater St. Cloud Development Corporation plays a large part in ensuring entrepreneurs are supported. CEO NeTia Bauman says, “We are thrilled for St. Cloud to be recognized as the top small city in Minnesota to start a business. What we’re seeing here is real momentum, entrepreneurs launching new ideas, established businesses expanding, and a region that rallies behind local success. GSDC and our numerous partners are working diligently to increase access to resources and mentorship through our Launch MN and Thrive MN programming.”

St. Cloud finished #638 in Business Environment and 534th in Business Costs. The first category considers the growth in small businesses and the number of startups per capita. It grades on the diversity of companies in a city and how easy it is to get into the office from home via a short commute. The second category involves the practical side of business: how much it costs to rent an office, labor cost, the tax rate, and general cost of living.

Bauman says St. Cloud holds up well in both categories. “With our talented workforce, affordable commercial space, and strong quality of life, we’ve got the right mix to help businesses grow and thrive. And what really makes St. Cloud stand out is the spirit of collaboration. It’s a place where people want you to succeed. We’re excited about the future and proud to see that the work happening here is getting national attention.”

Costs helped power St. George, Utah, to the top overall spot. Office space costs only $10.73 per square foot, and the number of small businesses has boomed by 46% in just a six-year period. Fort Myers, Florida, and Cedar City, Utah, rounded out the top three.

In Minnesota, St. Cloud was the best. Moorhead (#323 overall) was next, followed by Fridley (#392).

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