SECAUCUS – Number-crunching site NerdWallet just released a list of the “Best places to start a business in New Jersey” and number four on the list is Secaucus.
A total of 231 municipalities were ranked, each with a population of 10,000 or more, and no less than 500 businesses. Among the key takeaways of the study was that “small cities lead the way. Eight of the 10 top cities on our list have a population under 25,000,” according to the site, which cites a population of 17,106 for Secaucus.
“Solid revenue is a key to success,” the article continues. “Solid sales are a key driver of business success in the places on our list. For example, 10 of the top 20 cities and towns were also among the places with the highest average annual revenue per business.”
Secaucus, with 2,374 businesses, reflects an average annual revenue per business of $5,538,767, according to NerdWallet, while unemployment is a low 4.2 percent.
Rankings were based 65 percent on the business climate and 35 percent on the local economic health. Data was culled from the U.S. Census Bureau’s Survey of Business Owners, weighing factors including the number of businesses with paid employees and the average annual revenue per business. Additional data from the American Community Survey provided information on income, housing costs, and unemployment rate.
The next highest Hudson County town on the list is Hoboken at 110, followed by Kearny at 157, Bayonne at 159, Weehawken 173, Jersey City 176, Harrison 189, North Bergen 206, with West New York and Union City near the bottom at 214 and 215 out of 231.
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