While Pearl City may be the fourth-happiest city in the U.S., it ranks near the bottom for a place to start a business, according to the latest WalletHub study.
WalletHub, a Washington D.C.-based personal finance website, released “2018’s Best Large Cities to Start a Business” on Monday, comparing more than 180 U.S. cities across 19 key indicators that include five-year business survival rates and office space affordability.
The three key dimensions considered were business environment, access to resources and business costs.
Pearl City ranked No. 178, fifth from the bottom, and was noted as the city with the highest labor costs. Honolulu ranked No. 125, just one notch above Anchorage, Alaska, but one below Plano, Texas.
The top-ranking, large cities to start a business were Oklahoma City, Okla. (No. 1), Austin, Texas (No. 2), Sioux Falls, S.D.(No. 3), Missoula, Mont. (No. 4) and Durham, N.C. (No. 5).
Data was pulled from the U.S. Bureau of Labor Statistics, National Venture Capital Association, Council for Community and Economic Research, LoopNet and Federal Deposit Insurance Corporation, among other sources.