Austin the top city for small business

Austin has strong ties to several large tech giants such as Dell Inc. and IBM Corp., but a new report pins the city as the best spot for small businesses.

The Capital City is No. 1 on NerdWallet's list of the 10 most small business-friendly cities in the U.S. The financial literacy website focused on tax and small business growth rates when ranking cities.

NerdWallet cites the following small business pluses: Austin's 1.24 percent city property tax, a second-place ranking for its license friendliness and a No. 2 nationwide ranking by the Milken Institute for expected business growth in tech, real wages and jobs.

Texas held the top three spots with San Antonio at No. 2 and Dallas coming in third place. Baltimore ranks No. 4, followed by Houston; San Jose, Calif.; Charlotte, N.C.; Indianapolis; Jacksonville, Fla.; and Phoenix.

In May, the website ranked Austin as a top city for working women.

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