Report: Philly is fourth worst US city for small business workers

small business
Philadelphia’s high cost of living, unemployment rate and stress index all contributed to its ranking near the bottom of the list. Credit: File photo

Philadelphia is the fourth worst city in the United States for small businesses employees, according to a report released Monday by credit card comparison website CardHub.com

The report, “The Best and Worst Cities to Work for a Small Business: 2013,” used 10 different metrics based on data from the U.S. Census Bureau and Bureau of Labor Statistics to rank the overall attractiveness of the 30 largest metropolitan areas in the country to job seekers looking for work at small businesses.

Philadelphia ranked No. 27 on the list, coming in ahead of just Sacramento, Riverside and Detroit.

Denver was rated the best city for small business employees, followed by Boston and Minneapolis.

The study most heavily weighed the number of businesses in each city with fewer than 250 employees per capita, cities’ small business vitality — defined as the proportion of job growth relative to workforce and population trends — average monthly earnings for new hires, residents’ average disposable income and metropolitan areas’ unemployment rates and cost of living.

It also took into account the cities’ small business net job growth, the degree of industry variety within the small business communities, the average number of employee hours worked in each location and each city’s stress index ranking.

CardHub found Philadelphia’s small business community was stifled by high unemployment, stress and cost of living, combined with relatively feeble measures of small business vitality, which were among the 10 lowest on the list.

The city fell in the middle of the pack when it came to the number of small businesses per capita, net small business job growth, average wages for new hires and small business industry diversity.

The report did find one silver lining for small business employees in the City of Brotherly Love.

“About the only thing the Philadelphia metro area has going for it is that its employees work the fourth fewest hours, on average, out of the 30 largest metropolitan areas in the United States,” the conclusion stated.

CardHub noted that, according to the U.S. Small Business Administration, small businesses employ about 47 percent of the nation’s private workforce and have created more than 60 percent of the new jobs added to the economy over the past 20 years.



News
Entertainment
Sports
Lifestyle
News

NY judge throws out lawsuit by Empire State…

A New York state judge has thrown out a lawsuit in which longtime investors in the Empire State Building claimed they were shortchanged out of hundreds of millions of dollars…

Local

Mysterious white flags appear over Brooklyn Bridge

Two white flags mysteriously appeared over the towers of the Brooklyn Bridge yesterday in place of the American flags that are a traditional fixture.

National

Judge sets January start for murder trial of…

By Elizabeth BarberBOSTON (Reuters) - Former New England Patriots player Aaron Hernandez will be tried in January for the murder of semi-professional football player Odin…

National

Donut capers stymie police in Oregon

For more than a month, mysterious vandals have been smearing pastries on cars, depositing donuts in lawns and leaving cakes strewn about the streets.

Arts

Don't miss 'Charles James: Beyond Fashion' at the…

Have you been meaning to see "Charles James: Beyond Fashion"? There are only two weeks left to get to the Met and catch this amazing American fashion designer's collection.

Television

Zac Posen talks 'Project Runway' and what it…

We talked to Zac Posen, judge and designer extraordinaire, about the new season of "Project Runway" and what keeps him coming back after three seasons.

Television

'Face Off' contestant David 'DOC' O'Connell sounds off…

David "DOC" O'Connell tells us about getting cast on Season 7 of Syfy's "Face Off," premiering tonight at 9.

Arts

PHOTO: Wildlife photographer Marc Mol captures amazing aerial…

This aerial image was taken by photographer Marc Mol who spotted the animals during an air safari in Zambia.

NFL

David Tyree hiring has gay rights advocates angry

Former Giants Super Bowl hero David Tyree will re-join the franchise as its new director of player development.

NFL

Ben McAdoo's new offense has Giants excited to…

Even Tom Coughlin feels he has a lot to learn about offensive coordinator Ben McAdoo’s new offense, which makes the veteran coach very excited.

MLB

MLB Power Rankings: A's, Angels, Dodgers, Brewers lead…

MLB Power Rankings: A's, Angels, Dodgers, Brewers lead pack

NFL

2014 NFL season betting odds: Which team will…

2014 NFL season betting odds: Which team will win Super Bowl?

Tech

Learn Braille with these gloves

U.S. scientists have designed high-tech gloves to help users understand Braille in a matter of minutes.

Home

5 New Ikea products that will change your…

We round-up the latest must-have products.

Food

Recipe: Wolfgang Puck's Buttermilk French Toast

We recently spent some time chatting with restauranteur/celebrity chef Wolfgang Puck at his Wolfgang Puck American Grille in the Borgata in Atlantic City. Puck wanted…

Style

Go retro with your sneakers

The best of wacky new sneakers.