Holland, Michigan was ranked as the top city for small businesses in the U.S. by a study conducted by WalletHub. The ranking was based on several factors including business environment, access to resources and cost of doing business. Holland took the top spot in all major categories.
This small city, with a population of just over 33,000, offers many perks and advantages for small business owners.
Holland has low cost of housing. The average monthly rental for a two-bedroom apartment is $840, compared to the national average of $1,148 per month. The median cost of a house is around $194,300, while the national average is $219,700.
The Gallup Poll ranked Holland as the second happiest place to live in the U.S. It has miles of freshwater beach and more than 1,000 acres of open space for outdoor activities like mountain biking, camping and skiing.
Michigan has the highest concentration of engineers per capita. The state has a total of 60,000 engineers against a population of 9.9 million. This will help small companies in the design of manufacturing business to easily source talent locally.
The locals tend to be more connected, and as a result the startup and professional communities are intertwined. People also tend to know one another and when a business opportunity is available, it gets to the right people faster. Being part of a small community also provides small businesses a better chance to stand out. The city has a booming startup environment. A 2017 study conducted by MVCA found a 20% increase in startups in West Michigan and that 50% of venture capital firms in Michigan have invested in startups in Holland.