April 23. According to a new report from WalletHub on 2024’s Best Large Cities to Start a Business, Charlotte was No. 3 nationwide, ahead of bustling cities like Miami (No. 5), Atlanta (No. 6) and Raleigh (No. 11).

WalletHub compared 100 cities across 19 key indicators of startup viability, including five-year business-survival rate, labor costs and office-space affordability.

Best Large Cities to Start a Business
1. Orlando, FL
2. Tampa, FL
3. Charlotte, NC
4. Jacksonville, FL
5. Miami, FL
6. Atlanta, GA
7. Fort Worth, TX
8. Austin, TX
9. Durham, NC
10. St. Petersburg, FL

11. Raleigh, NC
12. Arlington, TX
13. Colorado Springs, CO
14. Dallas, TX
15. Winston-Salem, NC
16. Lubbock, TX
17. Hialeah, FL
18. Boise, ID
19. Reno, NV
20. Aurora, CO

—Texas and Florida have five cities in the Top 20, while North Carolina has four.

To read the full report, click here.

Advice for aspiring entrepreneurs

Paul Cheek

“The first piece of advice I have for any aspiring entrepreneur is to simply get started. Getting started is the hardest part of entrepreneurship, but once you do you are so much closer to making your vision a reality.

“Beyond taking that first step, I recommend that entrepreneurs focus on building a strong team that will help them take their business to the next stage of growth. All too often people perceive ideas as the most important asset when getting started, but it is in fact the team that should be prioritized. Ideas change, and people are the ones to bring these new ideas to reality.

“Entrepreneurs need to recognize that they do not know everything and that learning will lead them to answers. The entrepreneurial journey is one of constant evolution, and your ability to adapt and learn is your greatest asset. Entrepreneurs need to be eager to explore new concepts and challenge their own assumptions.

“Finally, maintain your commitment to solving real problems. Entrepreneurs are at their best when they are driven by a purpose beyond profit, focusing on creating genuine value for society. This principle has guided countless innovators at the Trust Center to not just launch businesses, but to make a meaningful difference in the world.”

—Source: Paul Cheek, Executive Director, Martin Trust Center for MIT Entrepreneurship; Senior Lecturer, MIT Sloan School of Management and Author of “Disciplined Entrepreneurship: Startup Tactics.”