Shawano Named Tenth Best Place to Start a Business in Wisconsin
San Francisco, CA (July 15, 2015) – NerdWallet, a consumer finance website, has conducted a study to find the best places in Wisconsin to start a business – and Shawano ranked tenth. To determine this ranking, NerdWallet examined 118 places in Wisconsin with populations of 5,000 or more and analyzed the following factors:
- Business climate
- Average revenue of businesses
- Percentage of businesses with paid employees
- Businesses per 100 people
- Local economic health
- Median annual income
- Median monthly housing costs
- Unemployment rate
Shawano has the most affordable median monthly housing costs of the top 10 cities, coming in at $634. The city also boasts a high percentage of businesses with paid employees, at nearly 42%. These factors enable Shawano’s residents and employers to enjoy a healthy, stable local economy; ultimately encouraging aspiring entrepreneurs to start their own company in the city.
Local economic development leaders are pleased with this distinction. Dennis Heling, Shawano County Economic Progress, Inc.’s Chief Economic Development Officer, said being near the top of the list of best places in Wisconsin to start a business is important. “Business start-ups help to strengthen and diversify the local economy and expand the culture of entrepreneurship,” stated Heling. “Expanding our business base stabilizes our regional economy and provides greater employment opportunities for the workforce.”
Nancy Smith, Executive Director of the Shawano Country Chamber of Commerce is looking forward to positive interest from potential entrepreneurs. “The Shawano area has a great quality of life and our low cost of living has a lot to do with that. We attract new residents, vacationers, and business people who are looking for an attractive and affordable destination. With this top ten designation, we anticipate entrepreneurs who may not have thought of our area initially will give us a look.”
Other communities in the region included in the top 10 include Ashwaubenon and Waupaca. See the full study at http://www.nerdwallet.com/blog/small-business/places-start-business-wisconsin/.
NerdWallet is a personal finance site for consumers. Our data-driven tools and content enable consumers to make well-informed decisions across a broad range of financial topics, like buying a house, saving for retirement and small business loans.
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