By Jessica Coates and Elizabeth Cook

news@salisburypost.com

SALISBURY — Looking for a good place to launch a business? It could be right under your nose.

Salisbury ranks 13th among the best small cities in which to start a business, according to the financial website WalletHub.

WalletHub compared more than 1,200 cities with populations between 25,000 and 100,000, rating them according to business environment, access to resources and business costs.

Coming in 13th, Salisbury was one of four North Carolina cities that made the top 25 on WalletHub’s list. Others are Wilson, which ranked fourth; Sanford, 15th; and New Bern, 25th.

Salisbury’s high ranking is good news, says Greg Edds, chairman of the Rowan County Board of Commissioners. He noted that Salisbury rated highly on “access to resources,” which could be a reflection of the city’s location.

Mayor Al Heggins echoed similar sentiments, saying Salisbury is “perfectly situated” on the Interstate 85 corridor.

“I’m so pleased our sweet city is ranked 13th as a great place to start a new business,” Heggins said by email. “I’m thrilled we are getting recognized nationally for our positive attributes.”

Signs of the area’s suitability for new business are all around, according to Edds, including increased requests from developers for information and the advertised availability of land and buildings.

Affordable utilities, cost of living and cost of doing business have also been cited as reasons for increasing interest in the Salisbury area, Edds said. “Our 24/7 permitting guarantees make us very attractive for projects on a tight timeline.”

All told, the study compared the cities on 18 key metrics ranging from average growth in number of small businesses to investor access to labor costs.

“We certainly have a very competitive tax structure from a state and local perspective,” Edds said. “Add to that availability of affordable land and reliable and affordable energy and utilities and that made us strong enough to rank No. 4 in the nation in the category of cost to do business.”

Heggins said the city’s “entrepreneurial spirit” and its support of nongovernment organizations focused on economic development also played a role in Salisbury’s high ranking.

“This ranking has put us (on) the Billboard’s top hits, garnering us the kind of attention we deserve,” Heggins said.

Edds also noted that Salisbury did less well in one key area — 133rd in business environment. That needs to improve, he said.

“The county has been working on more efficient systems and new processes that have made us the most competitive in the region,” Edds said.  “We’ve got to continue to improve on that success.”

Of nearby cities included in the report, Mooresville came in 47th, Kannapolis was 152nd and Concord was 162nd.

The North Carolina city scoring the lowest in the comparison was Rocky Mount, at 639th.

The WalletHub story says bigger is not always better. “A city with a smaller population can offer a greater chance of success, depending on an entrepreneur’s type of business and personal preferences,” it says.

Each city is different, but possible benefits of locating in a small city include lower overhead costs, stronger relationships with customers and the potential to become a big fish in a little pond.

Possible drawbacks might include limited industry options, a less diverse customer base, and difficulty attracting and keeping top talent, WalletHub says.

The WalletHub comparison used data collected from the U.S. Census Bureau, Bureau of Labor Statistics, Federal Deposit Insurance Corp., AreaVibes, Yelp, Indeed, Tax Foundation, LoopNet and WalletHub research.