Thinking of starting a business, but not sure where to begin? Picking the right city to set up shop is definitely one of the top to-dos. According to the findings of a finance site, Memphis ranks as the 10th best option among places in the US to start your business. So why should you start your business in Memphis? One of the large determining factors for Memphis is that it has high commercial and industrial loans per capita. It also boasts a low-cost of living and there are a few start-up oriented companies in the city that help new businesses to get off of the ground.

However, it is not all good in terms of Memphis and new business launching. There is a slow population growth rate, as well as one of the highest per capita unemployment rates. Add one of the lowest per capita income averages and you’ve got an interesting mix of financial data for the city.

Memphis wasn’t the only location to make the list. Nashville came in at No. 5 with a total score of 65.83, compared to Memphis’ score of 60.54 and Oklahoma City’s top-of-the-list score of 73.01. Whether you want to move to Memphis or Nashville, either Tennessee location could be a great place for you to launch your new business.