The Milwaukee-West Allis-Waukesha area has been named No. 6 in a new study looking at the top places for new businesses in the U.S. in 2019. Smart Advisor Match analyzed 50 metros areas.
Key measures included:
- New businesses as a percentage of total business
- Startup early survival rate
- Percentage of all businesses that break even or make a profit.
- Percentage of all businesses ceasing operations because of finances,
- Percentage of businesses with a loan from a bank/financial institution.
- Percentage of businesses getting $100,000 or more from a bank/financial institution.
In the Milwaukee metro area, about 18% of businesses had at least $100,000 from a bank/financial institution—the second-highest rate in the study. The area also had the fourth-lowest percentage of businesses that stopped operations due to finances (1.2%), and the study found that about 4.3% of businesses in the area are new businesses.
Smart Advisor Match is a publication of SmartAsset, which provides tools, including educational articles and calculators to help people reach their financial goals. Recognized as an industry leader, SmartAsset has received multiple awards and been referenced in thousands of media articles since 2012.