Austin ranks No. 2 in US for people starting a business, report says

AUSTIN (KXAN) — According to a new analysis by LinkedIn’s Economic graph team, Austin comes in at No. 2 for recent business-formation growth. Hotspots for new entrepreneurs: Atlanta Austin Seattle San Francisco Chicago Boston Miami-Fort Lauderdale New York City Los Angeles Denver The report noted that those metros span all major time zones in the country. “Austin, Texas (No. 2) and Chicago (No. 5) are standouts in the central U.S., while Denver (No. 10) is the Mountain time zone’s presence. On the West Coast, Seattle (No. 3), San Francisco (No. 4) and Los Angeles (No. 9) are leaders,” the report said. George Anders, an author of the report, said a few years ago it seemed like fewer Americans wanted to start a business. “From 2007 through 2018, only 1.1 of every 1,000 U.S. residents founded a business each year, down from a more robust 1.6 in 2005, according to the Kauffman Foundation,” Anders wrote. However, he pointed out that the pandemic might have “rekindled people’s desires to run their own show.” “Kauffman data shows that by 2021 (the most recent year available), the U.S. rate for starting one’s own business had rebounded to 1.5 per 1,000,” the report read. The methodology In this
Read More