Small Kentucky Town Joins America’s Best for New Businesses

According to WalletHub's latest study, while Utah boasts several small cities that rank among the best in the U.S. for startups, one small Kentucky town stands out as one of the best in the Commonwealth for new business ventures.

STUDY METHODOLOGY

To identify the best small cities for launching a business, WalletHub analyzed over 1,300 U.S. cities with populations between 25,000 and 100,000. Their study evaluated 18 key indicators of business-friendliness, including small business growth rates, access to investors, and labor costs, to pinpoint the most supportive environments for entrepreneurs. Based on the study, if you're considering launching a new business in Kentucky and prefer a smaller city environment, this town offers strong business development support.

BEST FOR NEW BUSINESSES IN KENTUCKY

Georgetown, Kentucky, is an excellent choice for entrepreneurs seeking a supportive environment to launch or grow their business. Recognized as one of the best small cities in Kentucky for startups, Georgetown offers a blend of resources tailored for small business success.

WHY GEORGETOWN STANDS OUT

A supportive community, resources, and economic opportunities are why Georgetown performed well in the WalletHub study. Situated in Scott County, Georgetown benefits from its proximity to major highways and the Lexington metropolitan area, providing access to a larger market while maintaining a small-town feel.​ State and local programs also offer financial incentives and support to help businesses thrive and expand, according to Georgetownky.gov.

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“The benefits of starting a business in a small city include lower overhead costs, stronger relationships with customers, and the potential to become a big fish in a little pond. But there are drawbacks, too. Entrepreneurs who want to build a large professional network aren’t likely to make as many connections in a town with fewer residents. Other restrictions might include limited industry options, a less diverse customer base, and difficulty attracting and keeping top talent.” - Chip Lupo, WalletHub Analyst

STATE-BY-STATE RESULTS