Minneapolis/St. Paul among top 10 metros for most profitable small businesses (gallery)
Monday, August 12, 2019
Small businesses in the Twin Cities metropolitan area are more likely to be successful compared with other U.S. metros, given its economic conditions and competitive landscape, according to a recent study by LendingTree.
In analyzing data from the U.S. Census Bureau’s 2016 Survey of Entrepreneurs, LendingTree researchers compared the total number of firms with employees in a metropolitan area to the number of firms in a metro reporting profits to determine cities with the highest share of profitable businesses.
Of the top 50 metros, Minneapolis/St. Paul ranked No. 7 with just over 69 percent of business reporting profits. Out of 47,546 Minneapolis-area businesses analyzed in the report, 32,832 reported profits, while 7,283 reported losses. The remaining firms broke even.