Honolulu Ranks No. 66 in Study of Best Cities to Start a Business

Honolulu placed No. 79 in terms of access to resources but No. 51 in terms of the business environment, according to Wallet Hub.

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Honolulu isn’t the best place to start a business, but it’s far from the worst, according to a new study by the personal finance website Wallet Hub. The website ranked Honolulu No. 66 out of 150 metropolitan areas in an analysis of the best cities to start a business.

Honolulu placed No. 79 in terms of “access to resources,” which took into account the availability of small business loans and employees, cost of office space and median annual income of employees. But the city came in No. 51 when it came to “business environment,” which includes the cost of living, corporate taxes, workforce education level and several other factors.

The analysis comes as state lawmakers debate a bill that seeks to help Hawaii’s small businesses and the manufacturing industry.

House Bill 1069 would expand the state’s Small Business Innovation Research Program to provide more grant money to small businesses and establish the Hawaii Manufacturing Capital Grant Program to support the manufacturing industry.

Click here to read more about the rankings, or check out the interactive map below:

Source: WalletHub

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