Montana Town Ranks In The Top 5 Nationwide For Small Business.
We all know that Montana is growing at a pretty steady pace. Folks from all over the world are moving to Montana to live, work, and play.
As people continue to come to The Treasure State, we are seeing more and more new businesses open in cities and towns all across the state. In fact, according to new data, Montana has a handful of cities and towns that rank very high nationwide when it comes to starting a small business.
One of those Montana locations actually ranks in the Top 5 nationally.
Our friends over at WalletHub came out with The Best And Worst Small Cities To Start A Business and four Montana locations made the list. Three of the four are among the best, while one town is a little lower on the list.
WalletHub used the following factors to determine where each town would rank:
- Business Environment
- Access To Resources
- Business Costs
When it was all said and done and all of the factors were tallied up, three Montana cities made the Top 25 while one Montana town came in 228th place.
First, we'll start with Great Falls. It seems that starting a new business can be a little difficult in Montana's 3rd biggest city. Great Falls isn't the most visited city in the state, so that might be part of it, however, Malmstrom Air Force Base is right next door, so it is a bit surprising that Great Falls received such a low ranking.
Bozeman, Helena, and Missoula all made the Top 25 with Helena coming in 21st, Missoula at 14th, and Bozeman making the Top 5 coming in 4th.
All three are University or College towns, and of course, Helena is the Capitol. Both Bozeman and Missoula see a ton of tourists whether it be for either Yellowstone or Glacier National Parks, or just folks who love outdoor adventure, as both cities have access to skiing, hiking, and many outdoor activities.
Keep in mind, there are a couple of drawbacks.
Commercial property is expensive, especially in Bozeman and Missoula, and both towns often struggle to find workers. Having said that, for all of you entrepreneurs out there, if you are looking to start a new business, Montana might just be for you.