Fayetteville Ranked In Top 10 Nationally For Startup Businesses

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FAYETTEVILLE (KFSM) -- According to a popular business blog, Fayetteville is ranked No. 3 in the nation for startup businesses.

Datafox determined the rankings based on availability of capital, affordability, success of early-stage companies and entrepreneur community. According to the blog, cities with universities typically had more startups in the area.

University of Arkansas alum Cole Stocking started his own business in May 2014. He said he chose Fayetteville because of the opportunity to grow. Stocking owns Piggy Back, an electric shuttle service.

"The area of Fayetteville has so many resources available," Stocking said. "In terms of just information, people, funding."

The blog also points to the success of the several large company success stories in Arkansas. Matthew Waller is the dean of the Sam Walton College of Business and said innovation and access to investors has driven the state for years.

"We have companies that have been started by great entrepreneurs, Walmart, Tyson and JB Hunt," Waller said. "Those entrepreneurs need capital, Stevens in Little Rock is the biggest investment bank in the United States outside of New York City."

Atlanta, Georgia and St. Louis, Missouri ranked lower than Fayetteville on the list, coming in at No. 7 and No. 9.