Austin got kudos for its angel investment groups, business-friendly tax structure and support for business development in sectors like tech.
Here are the top 10 cities.
The Austin metro area, which has doubled its population growth in the last 20 years, is often used as a test market by national companies because its large minority population reflects the nation's future demographic mix," Fortune said.
"With University of Texas college students in residence, the area offers entrepreneurial opportunities for the youth market and skilled workers for local businesses. One-third of the area's payroll is related to technology jobs, contributing to Austin's reputation for having one of the most educated workforces in the nation."
But it isn't all roses for Austin. Fortune cited some complaints from business owners such as transportation issues and lack of flights to desired markets.
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