EXCELLENCE IN COMMUNITY DEVELOPMENT LENDING
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| The Clearinghouse Community Development Financial Institution
serves the needs of California communities, businesses and its
residents. It is committed to helping Californians access credit.
For further information: Corporate Office, 23861 El Toro Road,
Suite 401 Lake Forest, California 92630 (Main) 949.859.3600
(Fax) 949.859.8534 www.clearinghousecdfi.com
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CALIFORNIA BUSINESS MINUTE
Best for Small Business
04-13-11
Hi, I am Tim Johnson and welcome to the California Business Minute.
Business Journals, the online arm of American City Business Journals released its
annual rankings of the Best Cities for Small business. The rankings examine the
100 largest metro areas. Austin and Oklahoma City head this year’s list of the
Best Cities for Small Business. The rankings are based on a six-part formula that
rewards markets that have prosperous economies, are expanding rapidly and are
densely packed with small businesses. (It defines a small business as any private-
sector employer with 99 or fewer employees.). Unfortunately for California cities,
this annual examination has not provided
high rankings for local jurisdictions.
There were 11 California cities that were examined. San Jose had the highest ranking
at 20th, yet last year it was 75th and in 2009 was 50th. Los Angeles is ranked
45th, but last year it was 47th and in 2009 it was 64th. San Diego was 57th previously
67th in 2010 and 47th in 2009. San Francisco is 61st previously 45th and 47th in 2009.
Oxnard-Thousand Oaks fell to 78th from 35th in 2010. It was the highest ranked
California metro area last year and was 91st in 2009, which illustrates a similarity
to San Jose and its rocket to the top this year. Fresno was 86th, previously 90th and
88th in 2009. Stockton is 94th; it was 92nd in 2010 and 85th in 2009. Not bad for
being identified as the Most Miserable Place by Forbes.com. Bakersfield fell to
95th from 66th last year and 55th in 2009. Sacramento is ranked 96th, it was 95th
in 2010 and 78th in 2009. Riverside/San Bernardino is ranked 99th down from 91st in
2010 and 95th in 2009. Modesto is identified as the worst for small business at 100,
down from 87th in 2010 and 98th in 2009. Detroit had been 100 for the last two years, but
got a reprieve thanks to California.
I am Tim Johnson and this has been the California Business Minute.
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INSIDE CALIFORNIA'S ECONOMY
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