New Orleans ranks in top 10 cities with lowest startup costs

In its third annual study, SmartAsset has ranked New Orleans as one of the top 10 cities with the lowest startup costs for business owners.

The study looked at 80 U.S. cities comparing factors such as: cost of labor; office space; energy; legal and accounting fees; utilities and filing fees. Overall, SmartAsset estimated the cost for setting up and running a business with five full-time employees and 1,000 square feet of office space in New Orleans would be about $241,800. The Big Easy landed in the ninth of 10 spots.

Check out a detailed overview here.

– Haley Pegg, New Orleans Chamber