West Caldwell: The 15th Best Place To Start A Business In N.J.

If you’re looking for a good place to launch your can’t-miss business idea, West Caldwell may be among the best towns in New Jersey, a recent report suggested.

According to NerdWallet, a financial services provider, West Caldwell is the 15th-best place to start a business in the state.

Among the study’s findings:

• West Caldwell has 1,259 reported businesses (and a population of 10,759)
• West Caldwell businesses earn average annual revenues of $2.61 million
• 38.13 percent of West Caldwell businesses have paid employees

METHODOLOGY

The study ranked 231 towns in New Jersey with populations of 10,000 or more.

Ranking factors were based on data from the U.S. Census Bureau’s Survey of Business Owners, which weighed factors such as average annual revenue per business and the number of businesses with paid employees.

The study also used data from the American Community Survey, which includes information on income, housing costs and unemployment rate.

See the full ranking list and methodology here.

File photo courtesy of BlakePatterson

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