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    Philadelphia improves in national small-business ranking

    Philadelphia has climbed several rungs in the small-business vitality ladder, taking the No. 48 spot out of the nation’s 100 major metropolitan area.

    Ranked by The Business Journals, an online entity of Philadelphia Business Journal owner American City Business Journals Inc., the list is based on a formula that rewards markets that have prosperous economies, are expanding rapidly and are densely packed with small businesses.

    Philadelphia ranked 70 last year and 63 in 2009.

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