Los Angeles County Ranks Among Top Small Business Hubs In CA

Photo:SmartAsset

India-West Staff Reporter

LOS ANGELES, CA – A new study by SmartAsset has revealed that Los Angeles County ranks as one of the best places for small business owners in California, securing the second spot in the state. The study evaluated various factors, including small business ownership rate, income share, and tax conditions, which collectively highlight the county’s appeal for entrepreneurs.

Los Angeles County boasts a small business ownership rate of 31.58%, with a notable 6.19% increase in small business ownership over the last five years. While the county’s small business income share has seen a slight decline of 4.96%, it remains an attractive region with a small business score of 66.59. This score positions it firmly as one of the most favorable areas for small business owners in California.

Other top-ranking counties in the study include Marin County, which took the number one spot, and Mono County, which secured third place. Marin County’s small business ownership rate stood at 41.46%, although it saw a slight decrease in both ownership rate and income share. Los Angeles, however, outpaced other counties with its positive growth in business ownership over the past five years, despite the challenges facing small business income.

California counties such as Orange, Napa, and San Bernardino also featured prominently on the list, further showcasing the state’s diverse and dynamic entrepreneurial landscape.

With a strong market and business-friendly environment, the study shows, Los Angeles continues to be an appealing location for small businesses, despite small fluctuations in income share.