Bussiness
McAllen Ranked in Top 10 for Best Cities for Small Businesses Nationwide
Texas Border Business
In a new report highlighting the best places for small businesses in America, McAllen has been ranked #9, underscoring the city’s vibrant entrepreneurial and commercial ecosystem and strong economic growth. The ranking, based on several key factors, reflects McAllen’s commitment to fostering a business-friendly environment that helps local enterprises thrive. CoworkingCafe ranked the top 20 best places for small businesses nationwide, to ensure that entrepreneurs identify the best cities for their future business endeavors, by analyzing 136 cities across 11 key metrics such as GDP growth, number of business applications, labor costs and more.
Mayor Javier Villalobos expressed his pride in McAllen’s high ranking, stating, “This recognition as one of the best cities in the U.S. for small business speaks to the strength of our local economy and the hard work of our entrepreneurs. McAllen has created a supportive environment where businesses of all sizes can flourish, and we are committed to continuing that progress.”
McAllen stands out for its affordability, boasting the lowest cost of living index among the top cities. McAllen was also recognized for its high self-employment rate of 14.7%, ranking 5th nationwide. McAllen’s strategic location near the U.S.-Mexico border drives a unique business environment, particularly in logistics, commerce, international trade, hospitality and retail. With an impressive business growth rate of over 13% and an outstanding 28% GDP increase, McAllen is a beacon for small businesses looking to tap into both U.S. and international markets.
| The criteria used to determine the rankings included: |
| Growth Rate of Business Applications – McAllen continues to see a surge in new business applications, reflecting the city’s dynamic entrepreneurial spirit. |
| Percentage of Self-Employed Business Owners – McAllen boasts a high percentage of successful self-employed individuals, indicative of a robust small business culture. |
| GDP Growth – The city’s economic expansion has been supported by strong local industries and investment, contributing to McAllen’s rising GDP. |
| Labor Costs – Competitive labor costs make McAllen an attractive location for small businesses to grow and scale their operations. |
| Cost of Living Index – A relatively low cost of living in McAllen allows both businesses and employees to benefit from greater affordability. |
| Unemployment Rate – McAllen’s low unemployment rate demonstrates a healthy labor market and economic stability. |
| Percentage of Population with a Bachelor’s Degree or Higher – With a growing, educated workforce, McAllen offers businesses access to skilled talent that is crucial for growth. |
| Average Coworking Space Prices – Affordable coworking space prices in McAllen provide entrepreneurs and small businesses with flexible, cost-effective office solutions. |
| Coworking Spaces Density – A growing number of coworking spaces in the city offers diverse options for businesses to connect, collaborate, and innovate. |
| Number of Business Applications – The increasing number of business applications highlights McAllen’s growing entrepreneurial landscape. |
| Labor Force Participation – A high labor force participation rate reflects the city’s strong employment opportunities and vibrant economic activity. |
McAllen’s impressive ranking is a testament to the city’s pro-business policies, strategic investments in infrastructure, and growing network of resources for small business owners. The city’s low costs and high quality of life, combined with a skilled workforce and strong local economy, have made it a top destination for entrepreneurs and startups.
The city’s efforts to support small businesses include various programs designed to reduce barriers to entry, provide access to financing, and offer mentorship opportunities through partnerships with local organizations.
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