News Summary
Chandler has recently been recognized as the premier city for small business growth in Arizona, according to a report by B2B Reviews. Key indicators such as a high percentage of employer firms and robust population growth have positioned Chandler as a thriving hub for entrepreneurs. It boasts a notable presence of employer firms at 5.05% and a significant population increase of 17.77% from 2020 to 2023. While other cities like Queen Creek and Phoenix also show growth, Chandler’s community spirit and supportive environment stand out, making it an ideal place for starting or expanding a business.
Chandler Emerges as Arizona’s Top Spot for Small Business Growth
Chandler has gained quite the reputation recently, claiming the title of the best city for small businesses in Arizona according to a new report from B2B Reviews. This delightful city has been making waves, thanks to its impressive stats in key areas that indicate a flourishing environment for entrepreneurs.
Why Is Chandler Winning?
So, what exactly puts Chandler on the top of the list? Well, the ranking criteria employed by B2B Reviews centered around multiple factors that are crucial for any budding business. Some of these important metrics included population size, commercial real estate rent, and the percentage of employer firms thriving in the area.
Chandler stands out with a solid presence of employer firms at 5.05%. That’s pretty significant! This shows that Chandler is not only a friendly place for small businesses, but it’s also filled with established firms that contribute to its vibrant economy. Plus, over the past few years, Chandler has seen an impressive population growth of 17.77% from 2020 to 2023, tying it for third place in that category along with Casa Grande.
How Do Other Cities Stack Up?
While Chandler is basking in its success, it’s worth noting that there are other players in Arizona’s business growth game. Queen Creek has surged ahead as the fastest growing city in the state with a jaw-dropping population growth of 25.7%. Meanwhile, Phoenix, which is also on the list, holds the title for having a notable 25.17% of all employer firms in Arizona, sitting comfortably in third place overall.
Another city that has shown significant growth is Scottsdale, which boasts 10.3% of the state’s employer firms and ranks fifth in the state. However, not everything is smooth sailing; commercial real estate rent in some of these cities is notably high. For instance, the average commercial rent in Phoenix comes in at a hefty $26.61 per square foot, while Scottsdale’s costs hit a staggering $33.08. Yikes!
The Financial Perks of Being in Arizona
One bright spot for small business owners is the potential for financing. According to the 2024 SBA funding study from LendingTree, Arizona companies received an average SBA loan amount of $595,553. This bodes well for entrepreneurs looking to establish or expand their businesses in the Grand Canyon State.
The Valley is Buzzing
Speaking of business-friendly cities, there are a total of ten cities in the Valley that ranked among the top 35 for small business growth. These include Peoria, Goodyear, Scottsdale, Queen Creek, Gilbert, Mesa, Avondale, and Bullhead City. Clearly, Arizona is buzzing with opportunities!
A Steady Community Spirit
Chandler’s community spirit plays a significant role in its status as a prime destination for business owners. The Chandler Chamber of Commerce hosts annual events, such as the Chandler 100, to recognize and celebrate local businesses. This event highlights the contributions of significant employers and fosters collaborations among local enterprises to enhance community connections.
The Bottom Line
All in all, Chandler is shaping up to be a beacon of hope for those venturing into the world of small business. With a strong community, notable employer presence, and a growing population, the city is clearly a prime spot for new and established businesses alike. So, whether you’re thinking about starting a venture or expanding an existing one, Chandler might just be the perfect place to make your dreams come true!
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