Knowing that the dream of building a successful business is one that many Americans share, you’re prolly wondering the best U.S. cities to start a business.
The nation has always been proud of its entrepreneurial spirit and the opportunity for upward mobility. With the current economy posting good numbers (high stock market, low inflation and unemployment rate), now is a good time as it has always been to start a business.
However, starting one comes with a host of risks, and the failure rate is great regardless of which area you enter. Tax rates, employee availability, cost of office space, and a number of other variables have a strong influence on the success of a business. The factors that can help or hurt a startup vary greatly from state to state and city to city, so it is important to know the best U.S. cities to start a business and which location offers you the most benefits to reduce the many risks associated with building something new from the ground on top.
We know you are eager to start and build your business idea in your next highly successful company empire. After all, wealth favors the bold, and the common features among successful entrepreneurs are unwavering self-confidence and the ability to take risks.
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However, this does not mean that you should blindly jump forward before carefully weighing all the variables that usually lead to the creation or fracture of new startups – this includes where you decide to start, and which can be just as important as how and why parts of New work equation.
What are the best cities to start a business?
The majority of small business owners in the United States are optimistic about current business conditions, according to multiple polls. But if you are among the many Americans who dream of opening your own business, it is important to remember that starting a business is not a sure bet – and it is worth looking for the best U.S. cities to start a business or the areas that have the best conditions for starting.
If you are looking to start your own business, finding the right place to set up a store is an important first step. We have identified cities that are hot spots for emerging entrepreneurs. Each presents attractive qualities you should look for in the home: a strong community of small, established businesses; low living costs, especially for the self-employed; and a well-educated workforce to ensure you have loads of promising job applicants when you are ready to be hired. They also have low unemployment rates, indicating a healthy local economy.
7 best U.S. cities to start a business
1. Raleigh, North Carolina
If you are looking for a thriving and vibrant home for your new company that is a little off the beaten path, consider this exciting corner of the Southern Research Triangle. More and more companies are looking at Raleigh and all that it has to offer – a class of well-educated, talented young college graduates and seasoned workers, as well as a thriving cultural scene. Most importantly, investment funds follow suit. Bottom line: Raleigh is a solid choice as a home for new companies looking to go ahead and take advantage of their convenient location.
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2. New York
With the iconic Statue of Liberty and the Empire State Building, it’s easy to think of New York City as massive and centered on big corporations. But this city is also great for small businesses. A total of 411,323 small business owners live and work in the metro area, making up 2.03% of the total population. Leading industries are professional, scientific and technical services.
3. Austin, Texas
The mention of Austin as “the next Silicon Valley” is almost yesterday’s news, as tech stars from Google to Amazon and many others have already established a serious presence in this booming city of talent. As a result, Austin is experiencing an amazing explosion of business growth, population and expansion – with no end in sight.
And it’s not just technology-focused companies that plant their flags in Austin. Companies in all industries are keen to set up a store in Austin and participate in the event. The city is teeming with start-up funds and public and private investment opportunities, which only add to the current draw as a steep alternative to San Francisco and New York.
Boulder, Colorado, may be best known as the home of incubators for startups like Techstars. But Denver might be the place to start your small business. 50619 small business entrepreneurs call home in the city. That’s 1.77% of the population working in professional, scientific and technical services. The city not only provides a great atmosphere for small businesses, but also great attractions that interest everyone and make it easy for you to hire talent. Attractions include rock climbing, Wings Over the Rockies Air and Space Museum, Denver Botanic Gardens, and more.
5. Cheyenne, Wyoming
Cheyenne is the capital of Wyoming and a leading small city for small businesses. Its tax score is 55% above average and commuting time 42% shorter than average, which makes it easy to open a company and get to your business. The city also boasts above average internet access, which, in today’s world, will either bring or break new business success. (Plus, Cheyenne is so pretty, it would make anyone want to set up a store there.)
6. Grand Forks, North Dakota
The Grand Forks hosts the University of North Dakota, and beautiful Red River views to boot. In addition to the silly beautiful scenery and some of the pride of major university cities, it’s also great for business people looking to move forward. For example, the city loan approval rate is 83% above average, the highest on our list. Plus, the average commute time of thirteen minutes is the shortest on our list.
7. Manhattan, Kansas
You don’t need to go into the concrete jungle to experience a vibrant emerging scene – Manhattan has occupied the market in all things tech. Manhattan is bleeding from the purple because of Kansas, and thanks to the university’s Launch a Business program, nearly a dozen startups receive the resources and funds they need to thrive each year. On the subject of higher education, 51% of all residents of this small city have a bachelor’s degree or higher. Being (relatively) a small city, Manhattan promotes huge potential when it comes to entrepreneurship.