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Press Release: NerdWallet Ranks Ada Among Best Places to Start a Business in Oklahoma

10/9/2015 by Jessika Leatherbury
Tags: Awards

 

Ada Among Best Places to
Start a Business in Oklahoma

NerdWallet considers business climate and local economic health

San Francisco, CA (October 6, 2015) – NerdWallet, a consumer finance website, has conducted a study to find the best places in Oklahoma to start a business – and Ada ranked 16th.

To determine this ranking, NerdWallet examined 64 places in Oklahoma with populations of 5,000 or more and analyzed the following factors:

Business climate
   o Average revenue of businesses
   o Percentage of businesses with paid employees
   o Businesses per 100 people

Local economic health
   o Median annual income
   o Median monthly housing costs
   o Unemployment rate

With a population of 16,978, Ada has 2,747 businesses boasting an average revenue of nearly $7,600,000. There are over 16 businesses per 100 people in Ada, and nearly 23% of these enterprises support paid employees. These factors help create a strong and stable business climate in Ada, encouraging aspiring entrepreneurs to make the city their new venture’s home.

Other cities in the top 20 include Weatherford and Muskogee. See the full study here.

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About NerdWallet
NerdWallet is a personal finance site for consumers. Our data-driven tools and content enable consumers to make well-informed decisions across a broad range of financial topics, like buying a house, saving for retirement and small business loans.