Great News! Raleigh, Durham and Charlotte hold the 4th, 6th and 11th rankings, respectively, in The Business Journal’s 2013 rankings of America’s 102 major markets for small-business vitality. The recent study covered the nation’s 102 major metropolitan areas with Durham, N.C. having the smallest population of all metro areas, with 513,000 residents. The objective was to identify metropolitan areas that rate the most conducive to the creation and development of small businesses, according to the most recent data available from the U.S. Census Bureau and U.S. Bureau of Labor Statistics.
According to The Business Journal’s G. Scott Thomas, The Business Journals used a six-part formula to rate the vitality of each market’s small-business sector. The following are the six factors. Each is listed with its formula weight in brackets:
- Concentration of small businesses, expressed as a ratio per 1,000 residents [30 percent]
- One-year (2009-2010) percentage change in concentration [10 percent]
- One-year (2009-2010) percentage change in the number of small businesses [10 percent]
- Five-year (2006-2011) percentage change in population [12.5 percent]
- Five-year (2007-2012) percentage change in private-sector employment [12.5 percent]
- One-year (2011-2012) percentage change in private-sector employment [25 percent]
Mr. Thomas continued with an explanation of how the 102 major metropolitan areas were scored, writing “Each market’s final score is based on a comparison of its performances in the six components against the corresponding averages for all 102 markets. Above-average performances receive positive scores, while below-average results are given negative scores.”
Working in Raleigh, Durham, Charlotte and throughout the East Coast of the United States, Charlotte painting contractor, A&K Painting Company is a small-business with vitality. We’re known for delivering exceptional customer service and award-winning safety management. We make our customer’s projects more successful and safe. We are strategically positioned to continually deliver our exceptional service to existing customers and new customers. A&K Painting Company exceeds expectations.