Fort Myers Takes Second Place Among U.S. Small Cities for New Business Growth

A study by WalletHub ranks Fort Myers second among 1,300 small U.S. cities for business startups. The research weighs 18 different factors, from business expansion rates to access to capital.

"The benefits of starting a business in a small city include lower overhead costs, stronger relationships with customers, and the potential to become a big fish in a little pond," said WalletHub analyst Chip Lupo to  News-Press.

Small businesses shot up by 22% in this Southwest Florida hub between 2016 and 2022. With office space at $12.20 per square foot, the city ranks among the top 100 most cost-effective locations in the country.

St. George, Utah, took the top spot — small businesses surged by 46%. Workers there spend just 17 minutes commuting, and office costs are $10.73 per square foot.

Florida shone bright with 23 cities in the top 100. South Bradenton claimed spot 19, while Boca Raton landed at 20. Close behind, Ocala and Immokalee secured positions 26 and 27.

At the list's bottom sat California cities. Apple's hometown, Cupertino, finished last at 1,334th, scoring just 29.2 out of 100. Among Florida cities, Cutler Bay performed the worst at 570th place.

The analysis targeted cities under 100,000 residents. Researchers studied growth patterns, funding options, investor access, and workforce expenses.