Columbus ranks No. 3 in small-business growth gauge

Columbus ranks No. 3 in small-business growth gauge

By Mark Williams · October 19, 2017

Columbus is among the top metropolitan areas in the country by one measure of small business growth.

The study from the Kauffman Foundation, looking at the nation’s 40 biggest metro areas, puts central Ohio at No. 3 trailing only No. 1 Washington, D.C., and No. 2 Austin, Texas. Columbus’ ranking is up one spot from last year. 

The report focuses on three areas: how quickly young, small companies add employees, the rate at which young companies exceed 50 employees, and the rate at which small companies achieve $2 million in annual revenue, with growth of at least 20 percent a year for three years.

At was the case last year, Columbus got its best score on how quickly young companies reach a workforce of at least 50.

This year’s report found that 2.51 percent of companies grew to employ 50 or more workers by their 10th year, the best score in the country.

Cleveland moved up a spot to 18th in the country in the report, and Cincinnati fell four spots to No. 22.

Ohio moved up six spots to No. 7 among the largest 25 states.

By | 2018-05-02T12:56:30+00:00 November 21st, 2017|In the News|0 Comments