Life is full of risks and some are bigger than others.

Toward the top of the list of riskiest things you might attempt would have to be opening your own business.

Having the right product at the right price is crucial, but so is the location of the new business venture.

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In South Dakota, we've got one of the best small cities in America for getting a new business off the ground.

According to a new list from WalletHub, Aberdeen is in the top 25 among more than 1,300 cities from across the country.

South Dakota's third-largest city is number 22 overall.

Since money is so crucial to every startup operation, it's no surprise that Aberdeen is so highly ranked considering the 'Hub City' is tied with St. Cloud, Minnesota; Florence, Alabama; and Michigan City, Indiana as the cities that have the most accessible financing in the country (Rapid City is dead last).

In the 'Access to Resources' category (Value and number of small businesses, working-age population) Aberdeen is sixth overall.

The city is 17th in 'Business Costs' (Office space affordability, labor costs, taxes, cost of living).

The biggest negative is Aberdeen's 558th ranking in 'Business Environment' (Length of work week, commute time, business growth, revenue)

As for the best small places in America to start a business, Utah and Florida have the majority of them, with eight of the top ten cities on the list.

BEST SMALL CITIES TO START A BUSINESS (Wallet Hub)

  1. Washington, Utah
  2. St. George, Utah
  3. Bozeman, Montana
  4. Cedar City, Utah
  5. Fort Myers, Florida
  6. South Bradenton, Florida
  7. Williston, North Dakota
  8. Logan, Utah
  9. Eagle Mountain, Utah
  10. Winter Park, Florida

LOOK: States With the Most New Small Businesses Per Capita

To find the top 20 states with the most new small businesses per capita, Simply Business analyzed the Census Bureau’s Business Formation Statistics from August 2020 to July 2021.

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