Starting A New Business? Go To Paramus, Survey Says

So you’ve decided to you want to start your own business. The biggest question is where?

Location, in business like in real estate, matters. And according to a recent NerdWallet survey, the No. 6 place to start a business in New Jersey is Paramus.

NerdWallet ranked 231 New Jersey towns that have a population of 10,000 or more, weighing data from the U.S. Census Bureau’s Survey of Business Owners such as average annual revenue per business and the number of businesses with paid employees.

The NerdWallet survey also used data from the American Community Survey, which includes information on income, housing costs and unemployment rate, according to Jonathan Todd, the analyxt behind the study.

Paramus garnered the No. 6 spot through growth through its transformation from a bunch of “celery farms and dirt roads” in the 1600s, to a “land of enormous malls and shopping centers that has made it one of the top retail ZIP codes in the United States,” NerdWallet said, quoting the borough’s website.

The borough has $3 million in average annual revenue per business. With routes 17 and 4 and retail giants like the Bergen Town Center and the Garden State Plaza, bringing nationally renowned brands and businesses, Paramus is a hub for consumers throughout North Jersey.

Tops on the list was East Hanover, which has 11,200 residents and more than 1,500 small businesses bringing in an average of $9 million in revenue each year. Eight of the 10 top cities have a population of less than 25,000, Todd noted, ”which shows that small places in New Jersey have much to offer when it comes to starting and growing a business.”

See the entire list here.