Forbes ranks Oklahoma City among nation's least risky cities for small business growth

Small businesses are the lifeblood of our economy, driving innovation, job creation and economic growth. In 2023, a groundbreaking 5.5 million small business applications were filed, with nearly 1.8 million poised to expand their teams. Oklahoma City reflects the resilience and dynamism of the U.S. entrepreneurial landscape. According to Forbes Advisor's latest analysis, Oklahoma City secures the second least risky spot among the nation's metropolitan areas for small businesses, with a commendable score of 2.51 out of 100. 

The findings of Forbes Advisor's analysis of the 50 largest metropolitan areas paint a picture of Oklahoma City's pull for small businesses. Despite the myriad risks faced by entrepreneurs nationwide, Oklahoma City displays a remarkably favorable environment. A closer look reveals several key factors behind Oklahoma City's favorable standing. 

Oklahoma City ranks second lowest in Forbes’ regional price parity metric, indicating that the cost of supplies and equipment in the area is typically more affordable compared to other locations. Additionally, our city ranked ninth for the lowest in cybercrime incidence nationwide, with only 34 incidents per 10,000 residents—significantly below the study's average of 82. This dedication to cybersecurity fosters a secure operating environment, safeguarding businesses against digital threats. 

Furthermore, Oklahoma overall recorded retail crime costs of $1.39 billion in 2021, substantially lower than the study's $4.2 billion average. This commitment to reducing crime-related expenses highlights the city's appeal to small businesses seeking stability and growth in a secure environment. 

Comparatively, while other metropolitan areas boast their own strengths, such as the thriving economy of the Raleigh-Cary, North Carolina metro area ranking first, Oklahoma City's appeal lies in its balanced blend of economic dynamism, affordability and security. These factors collectively position the city as an ideal launchpad for small businesses seeking to mitigate risks and maximize growth potential. 

With its favorable economic indicators, affordable operating costs, and robust security measures, Oklahoma City offers entrepreneurs a conducive environment to realize their business aspirations. Entrepreneurs can confidently explore opportunity in our modern frontier, knowing they have found a supportive and nurturing ecosystem for their small business ventures. 

Explore the comprehensive Forbes Advisor rankings and data analysis to find out which cities are considered the most and least risky for small businesses.