LinkedIn Places Philadelphia Among Ten Fastest-Growing Cities For Entrepreneurs

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Image via Ray Daly at Creative Commons.

The newly released State of Entrepreneurship report from LinkedIn puts Philadelphia among the top ten 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 Linked-in findings on fastest-growing cities for entrepreneurs in the Philadelphia Business Journal.

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