The Top 10 Cities For Entrepreneurs In The US
As much as the entrepreneurial spirit demands you to assume total responsibility for your destiny, you can never be a genuinely solo operative. Anything you do, professionally or personally, will inevitably be influenced by the people in your life and the environment around you.
Because of this, choosing the right area in which to seek your fortune is extremely important.
Weigh up all the significant factors, make a sensible decision, and you’ll be positioned well. Your successes will be more significant, and your failures will be easier to recover from. Choose poorly, though, and you’ll be swimming against the tide — and with the business world more hotly competitive than ever before, you can’t afford to contend with such a big disadvantage.
The beauty of the United States is that any citizen has access to a massive range of options when it comes to pursuing their ambitions. There’s disagreement over what exactly counts as a city, but if you look at “incorporated places,” there are over 19,500 to choose from, with over 300 places boasting permanent population over 100,000. So where should you go?
In this piece, we’re going to look at 7 US cities that are perfect for entrepreneurs today, reviewing what makes them so appealing. Let’s get started.
Las Vegas, NV
Since it’s the de facto home of top-class gambling and debauchery in the United States, it make sense that Las Vegas has very enticing tax laws, but that’s not the only reason why you might choose to launch a startup there — it also has an amazingly low cost of living.
Also, its promotional qualities and desire for reinvention and expansion have seen it bring in huge industry trade shows across various fields, making it superb for networking. Instead of venturing across the country to track down prospective investors, you can stay where you are and lay out your case when your industry comes to you.
Getting started as an entrepreneur can feel like a tough choice between comfort in the present and prosperity in the future — this city allows for a great compromise, letting you benefit from big-city life in a Las Vegas apartment without draining your funds.
Miami, FL
If you’ve only ever thought of Miami as a vacation destination, you should know that this party hotspot is so much more than meets the eye. Posting excellent stats across the board in all the major business categories, it provides a wonderful blend of skilled workers and young startups, and the connections to Latin America give it a unique edge in certain industries.
Besides, the cultural cachet and spectacular weather of the region have seen it collect offices from huge companies headquartered elsewhere. As evidenced by the top listings in Miami, large corporations operating alongside startups provides a very supportive and inspirational atmosphere for anyone looking to expand their business — and it’s surprisingly affordable, too.
If you like the idea of launching your startup in a cultural melting pot with glorious sunshine and reasonable prices, finding a Miami apartment could be your next step.
Denver, CO
Known for its spectacular mountain views, Denver’s pioneering FastTracks rail system makes it easier to navigate than other cities of its population, and its large airport ensures great links to the rest of the world — anyone aspiring to make frequent international business trips will find a lot to like there.
A lot of people are liking what they see in Denver because it’s attracting young people and accomplished professionals in droves (over half of the population is degree-educated), and the city’s low unemployment rate is a testament to that quality. It’s rather expensive, yes, but given the convenience on offer, it’s worth it.
Likely to lead a jet-setting life as a professional? Denver apartments can be costly but get set up there, and you’ll be perfectly positioned for travel.
Minneapolis, MN
State predictions suggest that the Minneapolis tech sector will expand to support 16,000 jobs by 2022, and a combination of a relatively high rate of pay and the low cost of state living means that they’re very likely to fill up quickly. Driven largely by tech innovation in the health and retail verticals, Minneapolis has one of the top levels of startup growth in the country.
If you have aspirations to work in the medical field, in particular, you will struggle to find a better choice. Minnesota’s Q3 2016 VC investment in medical devices ranked second nationally, a remarkable occurrence given its average ranking for GDP.
For access to tech workers and affordable living costs, this city is an excellent choice. Take a look at Minneapolis apartments to get a feel for the kind of investment needed.
San Francisco, CA
Given how extraordinarily expensive San Francisco life can be, it’s a testament to the qualities of this city that it still warrants a place on a list of ideal locations for entrepreneurs. Particularly when it comes to tech, the density of hit startups in the 49 square miles of San Francisco is remarkable, with Dropbox, Uber, and Pinterest (to name just a few) rubbing shoulders.
If you plan to launch your business and scale it rapidly, and you’re confident that you can attract interest from investors, there may be no better location for you. There’s certainly plenty of money going around, and the surfeit of top-quality schools combined with the general appeal of the lifestyle ensures that you’ll be able to recruit from a wealth of talent.
If you’re certain that your entrepreneurial skills are up to the task, you can grow very quickly in this bustling city. You can check out San Francisco apartments here.
Seattle, WA
News about Seattle business tends to be dominated by Amazon, Microsoft, and Starbucks — three large companies that cast worldwide shadows — but there’s much more to this city. Though it isn’t as favorable from a taxation standpoint as Austin (and is a costly place to live), it has a population that’s growing very quickly and offers assorted incubation and development schemes to support startups.
Off the back of Amazon and Microsoft, Seattle has a thriving array of tech companies, so any entrepreneur with aspirations in that field stands a great chance of finding some excellent partners and/or employees in the area. And it certainly doesn’t hurt that Seattle life is vibrant and eclectic.
Does Seattle sound like an environment you could excel in? Keep an eye on Seattle apartments for rent and plot your route to success in this seaport city.
Austin, TX
There are various reasons why Austin was given the top spot in a comparable list by CNBC in 2016. It boasts a top-class rate of startup growth, zero personal income tax or corporate tax, and plenty of creative talent to choose from — with a young-skewing population and some excellent universities; there’s no shortage of ambitious professionals eager to get ahead.
And beyond all that, of course, you have the appeal of Texas in general. Steady warm weather, varied terrain, and a gross state product that’s consistently among the highest in the country. All these advantages do come with their drawbacks, inevitably — renting office space is going to prove fairly expensive with such demand, for instance — but there’s nothing prohibitive to keep Austin from taking the lead here.
If Austin sounds like the right place for you, and you’re not intimidated by the humidity of Texas, then take a look at Austin apartments and think about how you could make your mark there.
Salt Lake City, UT
Widely known as the headquarters of the Mormon Church, Salt Lake City could be your city of choice even if your plans for the future have nothing to do with religion. When walking around the city, it might be hard to believe there are over 1.2 million residents living in the metro area. Despite growing in population, the city manages to keep its small-town feel as well as affordable prices for housing, groceries, and entertainment under control. Salt Lake City boasts of being the third best location in the country in terms of SBA loans, which means it won’t be hard to get funding to kick-start your business idea. And now the best part: not only is Salt Lake City attractive for entrepreneurs, but it is also one of the greatest cities for raising kids. Grab your chance to get the best of both worlds.
Portland, OR
There are cities you visit and tell yourself something like ‘it could be a nice place to live’. Then you leave them never to return again. And, to be perfectly blunt, you have no regrets. And there are also cities making you whisper “I’m totally moving here.” And if you fail to, you regret it for the rest of your life. Never happened to you? Book your tickets to Portland, stay there for a couple of days, and we’ll get back to this conversation right after. This unconventional city is great for your career of an entrepreneur, and it’s just as great for living a happy life (without the need of spending half of your income on housing and half of your free time on home-work commuting).
Charlotte, NC
If you don’t get it why Charlotte is on the list, here is a quick fact to blow your mind. Turns out, it is the second largest banking center in the country and the major commercial hub in the state of North Carolina. Brimming with business opportunities of all kinds, Charlotte won’t make you drain your wallet paying for a rental. With beautiful apartments available for less than $1,000 a month, you’ll get a chance to avoid superfluous spendings and grow your business way faster. Charlotte used to be a powerful interplay of the old and the new. Now the new seems to be taking over: future-like sports utilities, concept restaurants, chic lofts, and modern art galleries is what defines the city today. Now add to that favorable tax climate, low cost of living, and a huge amount of SBA loans. Isn’t it what the best city for young entrepreneurs should have?
Which of these seven great entrepreneurial cities seems like the best fit for your budget and aspirations? Anyone of them could be a fantastic place to get your business off the ground, so do a bit more research and make the best choice you can. The more carefully you choose your startup environment, the better your position will be.
Patrick Foster strives to support entrepreneurial efforts everywhere through his musings for eCommerce Tips, a leading online retail blog about everything that plays into digital buying and selling. If you’re an entrepreneur, check it out, and follow on Twitter @myecommercetips.
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Interesting list! Austin, Texas is such a beautiful and cool city to visit. I’ve considered moving there in the past for weather lol, but I didn’t know about the personal and corporate tax advantages. Might be taking my talents to Austin soon! Thanks!