Despite all the challenges of operating a small business in San Francisco — high fees, higher rents, strict regulations, entitled Yelp reviewers — working at a mom-and-pop shop in The City is actually a pretty sweet gig, according to a new report.
Just in time for Small Business Week, which starts June 17, CardHub.com has released a new study that shows San Francisco is the fifth-best city in which to work for a small business out of the nation’s 30 largest metropolitan areas. One reason is that new hires make a lot more money at small businesses in San Francisco than in most other cities, according to the study.
Researchers used a slew of metrics to determine which cities were best for those looking to work for a small business, including turnover rates, wages, job growth, cost of living and hours worked.
San Francisco, recognized as a bastion for entrepreneurial spirit, can brag about having the sixth-most small businesses per capita, while ranking fifth in terms of small-business vitality and net small-business job growth. Moreover, it offers the second-highest wages to new hires.
The City also recently upped the ante in welcoming startups, establishing an Emerging Business Loan Fund that enables qualified businesses to apply for a loan ranging from $50,000 to $1 million to cover operational, staffing, equipment, expansion and real estate costs.
Read more: San Francisco Examiner SF small-business workers have it pretty good