St. Cloud Ranks #28 on List of Best Cities for Young Entrepreneurs
UNDATED - St. Cloud is named one of the best places to do business in for young entrepeneurs.
The Granite City is ranked #28 on Nerdwallet.com's list of 181 best cities for young entrepreneurs.
The list is based on the population of 25-34-year-olds living in the community, education level, the local entrepreneurial community and the average amount of SBA (small business administration loans per 100,000 residents.
NerdWallet says St. Cloud has 2.55 small businesses per 100 residents, this beats out the the next Minnesota city on the list # 37 Mankato-North Mankato by .13. St. Cloud also has a high percentage (13.5%) of 25-34-year-olds bringing more opportunity to the area.
The percentage of those with a bachelor degree or higher is 27.40%, average income is slightly over 40,000 a year and the unemployment rate as of September 2015 is 3.1% all of these were contributing factors to St. Cloud's final ranking score of 58.8.