Is Quincy, IL a Good Small City to Start a Business in?

WalletHub came out with a ranking of the best and worst small cities to start a business in, and Quincy, Illinois is on the list. Where does it fall on the list, and is it in the right spot? Here are the details...

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WalletHub's 2023's Best & Worst Small Cities to Start a Business list just released and our town of Quincy, Illinois makes the list and is in a pretty decent spot on the list I might add...Quincy ranks 502nd on the list, which might seem really low BUT that is out of 1,334 small cities on the list. WalletHub says in the article...

" It’s hard enough owning a business even under normal conditions, when 20% of new businesses fail within the first two years and 45% fail during the first five...To determine the best small cities to start a business, WalletHub compared the business-friendliness of more than 1,300 small-sized cities. Our data set of 18 key metrics ranges from average growth in number of small businesses to investor access to labor costs."

Quincy gets a low 1,136th place ranking in the Business Environment category, that category is made up of things like Commute Times, the Number of Small Businesses, Startups, and more. But Quincy gets an incredibly high 70th ranking for the Access to Resources category. Quincy is ranked higher than Champaign, Normal, Bloomington, Decatur, Galesburg, Dekalb, and a number of other rural Illinois towns, plus it ranks higher than rival Quincy, Massachusetts. To see the full list of the best and worst small towns in the US to start a business click here! 

I think Quincy is ranked pretty appropriately here, there are challenges to starting a business in Quincy sure, but if you have a unique offering and are well run you can for sure exceed in the Gem City.