LinkedIn Places Philadelphia Among 10 Fastest-Growing Cities for Entrepreneurs

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The newly released State of Entrepreneurship report from LinkedIn puts Philadelphia among the 10 fastest-growing big cities for entrepreneurs, writes Ryan Mulligan for the Philadelphia Business Journal.

The Philadelphia region recorded a 37 percent growth in new businesses year over year, which is the seventh-highest growth nationwide.

Philadelphia ranked above eighth-placed Denver, which reported 32 percent growth, and just under sixth-placed Las Vegas at 39 percent.

The LinkedIn report defined entrepreneurs as an onsite founder or owner, leading a business with fewer than 500 employees within two months of operation. The rates of company formation were compared between the July 2018-2019 pre-pandemic period and the July 2020-2021 mid-pandemic period.

According to the report, the top industries for Philadelphia-area entrepreneurs are education, fitness and wellness, and real estate.

The City of Brotherly Love was also among the cities with the fastest-growing numbers of finance, manufacturing, and real estate businesses.

For female entrepreneurship, Philadelphia ranks at the top in the entertainment industry, with 27 percent growth in women-founded entertainment ventures.

The three fastest-growing cities for entrepreneurs are all in Florida: Greater Orlando, Miami-Fort Lauderdale, and Greater Tampa.

Read more about the LinkedIn findings on the fastest-growing cities for entrepreneurs in the Philadelphia Business Journal.