Thinking of Starting Up a Business? We Have The Perfect Cities For You!
As Entrepreneurs, we hope to establish a business that is, of course, a success at the end of the day. Every owner hopes for their business to achieve the objectives they have set out for it but sometimes due to an external factor, this dream crashes, taking with it financial investment and so much more. For this very reason, a startup is a risk that needs to be thought about thoroughly. All the factors considered the challenges that it may face and what will prove to be an opportunity for it. Around the United States, there are multiple cities which have proven successful for the startup environment and the companies there are currently flourishing. We did the research and included the top 10 cities you should consider when starting a new business.
The information we came across highlighted Columbus, Ohio as the first and foremost city with successful startup businesses. This was the result of its capital, Ohio, statistics which included the college presence, low costs in terms of both business and living, increase in venture capital deals and the number of funds launched yearly.
With the presence of colleges and universities, Columbus is able to attract a lot of educated individuals and then with attractive job offers, the retention of these graduates is what contributes positively to the city. It increases the working population and has a positive effect and through the talent, Columbus is able to gain a strong position and hold it. Columbus has also made certain policy incentives that have allowed big business communities to truly engage which has helped to create a safe atmosphere for startups.
St. Louis, Missouri
Similarly, this city is well known for the fact that its venture capital investment has proven to be of greater value compared to other countries, especially in the past three years. St. Louis is also a good choice for startups as it entertains lower business costs, allowing the entrepreneurs to risk a less amount of capital than necessary.
Atlanta is known in the United States for its rate of entrepreneurship, ranking in the top cities statistically. This may be due to the fact that it has major venture capital deals with companies like Kabbage, Rubicon Global and Airwatch. This could also be attributed to its low cost of doing business, which even though is a little higher than St. Louis is still lower than the national average.
With a highly educated workforce, Denver proves to be a great community for startup firms. This is due to the fact that they’ve retained their local graduates. These graduates are helping to increase the standard of living in the community which attracts others to live there.
This proves to be an opportunistic city for entrepreneurs due to its location. As it is near Washington D.C, this allows Baltimore to receive help from Johns Hopkins Technology Ventures. So despite its high cost in business expenses, this help proves to be the support startup requires to reach where they wish to go.
The high amount of Venture Capital funding is what makes Cincinnati an attractive option for people interested in starting up their businesses. This is also advantageous for those studying there as one of the universities present there, Miami University has become one of the top-rated programs in the United States due to its latest learning techniques.
The main attraction in Portland is the venture capital deals that have taken place there as it includes very well-known names that have successfully raised high amounts of money. These companies include Jama Software who has contributed $200 million this year along with Vascasa and Puppet.
With the second largest university population, Philadelphia has been able to establish around 100 degree-granting institutions which have helped it gain a beneficial working force. Moreover, Philadelphia’s location has also proven to be an appealing factor as it provides ease of access to its startups to the East Coast hubs of Boston.
Minneapolis- St. Paul
Entrepreneurs are able to get in contact with investors, customers and future employees due to the annual event organized by these two cities known as the Twin Cities Startup Week. This helps to bring in innovations through the talent that comes and thus, helps in making advancements to the food and agriculture industry.
Charlotte, North Carolina
This city is well known for its lowest business costs in terms of labor, rent, taxes, and energy. With a high venture capital amount through the presence of deals with famous companies like AvidXchange, the Queen City is definitely a good choice for those entrepreneurs who have great ideas but are low on its capital budget.
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