
With 36.2 million small businesses driving roughly 46% of total U.S. employment, small enterprises remain a major force behind the American economy — but location can make a big difference in long-term entrepreneurial success.
To identify the metros where small businesses are best positioned to thrive, CoworkingCafe analyzed 286 U.S. metro areas across three population tiers using 12 metrics tied to entrepreneurial activity, economic performance and workforce strength, including new business formation, small business density and survival rate, GDP growth and coworking availability.
Among mid-sized metros, Charleston-North Charleston ranks #1 nationally, driven by strong business formation, a high share of employment tied to small businesses and one of the country’s healthiest labor markets.
Here are the key findings:
- Healthy labor market conditions: Charleston’s unemployment rate stands at 2.3%, the 5th-lowest among mid-sized metros and well below the national average of 3.3%.
- Extensive coworking infrastructure that supports entrepreneurs and small teams: Charleston metro offers 4.1 coworking spaces per 100,000 residents, the 5th-highest density among mid-sized metros.
- Strong business formation activity: The metro recorded 2,112 new business applications per 100,000 residents in 2024, the 6th-highest rate among mid-sized metros and well above the national average of 1,553.
- Small businesses power local employment: Small businesses account for 53% of all local jobs, the 7th-highest share among mid-sized metros and significantly above the national average of 45.9%.
- Strong entrepreneurial culture: Self-employed residents make up 11.6% of the workforce, the 7th-highest share among mid-sized metros and above the national average of 10.2%.
- Highly educated workforce: 38.2% of adults in the metro hold a bachelor’s degree or higher, the 9th-highest share among mid-sized metros and above the national average of 33%.
- Dense small business ecosystem: The metro is home to more than 11,600 small businesses per 100,000 residents, the 9th-highest density among mid-sized metros and above the national benchmark of 10,376.
- Active workforce: Nearly 66% of residents are active in the labor force, the 10th-highest rate among mid-sized metros and above the national average of 63.5%.
- Strong earning power: Local workers earn a median of $48,498 annually, the 10th-highest figure among mid-sized metros and above the national median of $46,151.
- Healthy business survival rates: Small businesses in the Charleston metro posted a 91.1% survival rate, reflecting favorable conditions for long-term business success.
- Competitive coworking costs: Average coworking memberships cost about $235/month, slightly above the national average of $220.
- Steady economic expansion: GDP grew by 34.9% between 2019 and 2023.

At the state level, South Carolina stands out for having multiple metros that perform well for small businesses beyond Charleston-North Charleston itself. Columbia ranks #33 among mid-sized metros for small business success, followed by Greenville-Anderson at #45. Meanwhile, Hilton Head Island-Bluffton-Beaufort places #12 among small metros nationally, while Myrtle Beach-Conway-North Myrtle Beach ranks #53.
Nationally, Miami-Fort Lauderdale-West Palm Beach, FL ranks as the best large metro for small businesses to launch, grow and thrive, while Boulder, CO tops the small metro rankings.
Full analysis, methodology and expert opinions here: https://www.coworkingcafe.com/blog/best-metro-areas-for-small-businesses/.
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Source: CoWorkingCafe
















