Wilmington, NC has earned its place as one of the best cities for small businesses, ranking 14th in a new report by CoWorkingCafe. Known for its coastal charm, Wilmington is proving to be more than just a beautiful place to live — it’s becoming a hub for aspiring entrepreneurs.
Highlights: The report highlights Wilmington’s favorable business environment, which includes a lower-than-average labor cost of $34,430 and an attractive cost of living index of 95.8.
- The city boasts a self-employment rate nearing 14%, indicating a strong entrepreneurial spirit. Furthermore, affordable coworking spaces make it easier for startups to find flexible, cost-efficient workspaces.
Economy: Wilmington’s economy is on the rise, with a 36% GDP growth rate and a growing focus on creative and tech industries. This dynamic mix offers entrepreneurs a supportive and innovative community, perfect for launching and growing new businesses.
The South: Wilmington wasn’t the only Southeastern city to make the list, with eight of the top 15 spots claimed by cities in the region. Scottsdale, AZ, however, topped the rankings, followed by Miami, Atlanta, Orlando, and Austin.
- Other North Carolina cities also performed well, with Charlotte ranking 30th, Durham at 37th, and Raleigh at 39th.
- The South’s overall appeal, marked by low taxes, affordable living, and a highly educated, youthful population, continues to attract new businesses and foster innovation.
Bottom Line: As Wilmington continues to grow, it stands out as a key destination for entrepreneurs seeking a dynamic and supportive environment to build their dreams.