Of the metro areas around the country, Philadelphia ranks last for entrepreneurial activity, Philly.com reports. The rest of the state didn’t do much better, either; only West Virginia has a worse business climate, according to the Kauffman Index of Entrepreneurial Activity.
Typically, business creation has been pretty consistent; for the last seven years or so, almost 300 U.S adults of every 100,000 created a business, the story reports. It’s risen to as high as 340 the last few years.
Philadelphia’s numbers have been consistently worse, as low as 110 people in 100,000 starting a business. In contrast, Los Angeles had the highest rate of entrepreneurs, 620 per 100,00 last year; Houston and Atlanta were each at 580.
The writer asks the question:
So what’s been happening? Are Pennsylvanians not entrepreneurial? Or do its entrepreneurial citizens flee to states and regions that are?
What IS happening? The author discusses the area’s high immigrant population, and how it’s more likely that adults starting a business were born in another country. But that doesn’t seem to have an effect for the Philadelphia area.
Have you seen an example of how the business climate in Philadelphia could be improved? Or, do you not agree with this study?
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