Vail Valley makes list of best places to start business
EAGLE COUNTY — NerdWallet, a consumer-finance education website, recently released a list of the 85 best Colorado towns and cities to start a business. The Vail Valley placed three communities in the top 25 — Vail, Gypsum and Avon.
To determine the rankings, NerdWallet examined 85 places in Colorado with populations of 5,000 or more and analyzed the following factors:
• Business climate.
• Average revenue of businesses.
• Percentage of businesses with paid employees.
• Businesses per 100 people.
• Local economic health.
• Median annual income.
• Median monthly housing costs.
• Unemployment rate.
Strong Business Climate
Although the community only has about 5,300 residents, the businesses serving these residents and visitors boast average revenue per business of $720,430. There are nearly 29 businesses per 100 people, and aspiring business owners can expect a strong business climate when coming to Vail to start their own.
According to a release from NerdWallet, “We analyzed 85 places in Colorado, each with at least 500 businesses and a population of at least 5,000. We determined the overall score of each place by using data from the U.S. Census Bureau to assess a city’s business climate and economic health.”
Around the region, Aspen was rated the second-best spot to start a business, Steamboat Springs was third and Glenwood Springs took the fifth spot.