Chester County is the best place in Pennsylvania for small business owners, according to a new report recently released by SmartAsset.
To determine the ranking, SmartAsset considered three main factors:
- Proportion of people with small business income
- Amount of business income they reported
- The amount of their income taxes
Chester County ranked first with an overall small business index of 44.01. This put it No. 1,127 nationwide.
The county has small business returns of 24.65 percent, the highest in the state and significantly above the Pennsylvania median of 18.58 percent.
It also has an average small business income of 9.88 percent. The statistic puts the county in third place statewide and above the state average of 7.51 percent.
Meanwhile, the income tax small business owners need to pay is $10,316, which is slightly under the Pennsylvania average of $10,835.
Delaware and Bucks counties also made the Top 10 at Nos. 5 and 10, respectively. Montgomery County ranked No. 14.
Read more about the best counties for small business owners at SmartAsset.