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Worst Places to Start Business in U.S.
Fremont: While looking out for a place to set up a business, an entrepreneur always looks for few factors: availability of labor, raw material, power, proximity to the market, transportation, and communication channels. Today we are seeing many small towns in the third-world countries springing up as lucrative business destinations, while the developed nations have got their cities on the blacklist. Here are the worst cities to start business in U.S.
Detroit
Detroit’s fall has been attributed to its heavy dependence on the auto industry—which saw a spiraling downturn after the economic recession. in 2010, Detroit reported 354 murders, making it the most violent city, has an average household income of $28,097, and the vacancy rate is 30 percent. Though Detroit has an unemployment rate of just 13.7 percent, it has been ranked as one of the worst places to find employment. The prices in the housing sector have also seen a steep fall, which along with the growing rates of crime and fall in the auto industry (which has been the bread winner) has triggered the downfall of Detroit.
