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Minneapolis has been ranked the fourth best place to start a new business, according to a 2014 report by personal finance website, NerdWallet. The city does not only have a remarkable economy and highly educated workforce, it also boasts of low unemployment rates and a variety of business assistance services that turn startups into success stories. Additionally, the city offers a variety of financing programs for business owners and has one of the lowest business taxes in the country.
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The suburban city of Minnetonka has the fourth highest rate of businesses per 100 people. It is home to well-known and established companies such as Cargill, a company providing food, agriculture, and financial industrial products and services. In 2014, the company was ranked as the single largest private company in the country. Minnetonka also houses the headquarters of the UnitedHealth Group, a leading healthcare company ranked 14 in the Fortune 500 list.
Eden Prairie is another great city for business startups. The city boasts of high average revenue per business, low unemployment rate, and high percentage of businesses with paid employees. Roseville is also included in the list, boasting of a low 2.8% of unemployment rate and low business taxes for the Minneapolis-Saint Paul area.
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With all these factors considered, it is no wonder Minneapolis is the perfect place for a budding entrepreneur to start a business.