Best Place to Start a Business in USA
The best place to start a business in the USA is not limited to just one city. There are many cities in the U.S. that make a great location for startups.3 min read
The best place to start a business in the USA is not limited to just one city. There are many cities in the U.S. that make a great location for startups.
Businesses in Denver, Colorado
Denver, also known as the mile-high city, is full of hard-working, young adults. Its populated workforce contributes to its below-average unemployment rate.
The city has both an average amount of workers with a college education and an average number of new businesses. These new businesses are consistently drawing the younger generation to the city, further increasing its population and employment rate.
A few reasons many people are attracted to the city of Denver include:
- Its new and expanding rail system provides an easy and convenient way to travel.
- The convenience of being near America's biggest airport, the Denver International Airport.
- The mountain views surrounding Denver portray a beautiful scenery.
One of the major downfalls of living and operating a business in Denver is the cost of rent. It is similar to rent in San Francisco making it significantly more costly than other cities.
Businesses in Austin, Texas
The City of Austin holds more than 5,500 new businesses. It is also home to many large corporations such as:
Austin is brimming with a well-educated, younger generation who love to spend their days enjoying the city's artistic and flavorful scenes. At almost half the cost of San Francisco's rent, Austin's low living expense entices many entrepreneurs to the city. For these reasons, Austin has an above average employment rate.
There are few key facts that draw many business owners to Austin:
- The new, intelligent energy that fills the city.
- The state does not have a personal income tax.
- The state's corporate tax rate is zero.
- Austin has a culture that encourages small businesses.
Due to the state's corporate tax rate of zero and no personal income taxes, owners are able to use more of their money toward their businesses. Austin's overall support and encouragement of new startups has many owners eager to settle in this city.
Businesses in Seattle, Washington
There are many reasons that Seattle, Washington is a popular place for those seeking to start a business. Some of these reasons include:
- Its younger, lively population.
- Its flourishing technology industry.
- Its unique restaurants, shops, and coffeehouses.
Furthermore, Seattle is the home of major corporations such as:
Although Seattle does not have any impactful tax incentives, it is full of venture capital firms that can assist owners financially in starting their new businesses. Seattle's community colleges and the University of Washington also offer great business classes that can educate individuals and equip them with the necessary knowledge to start a business.
While there are many advantages to starting a business in Seattle, it is important to note that the number of startups has declined recently. Another disadvantage is the city's cost of living.
Best U.S. Cities for Business Owners
Location is a key factor to consider when starting a business. Owners planning to start a small business should spend a significant amount of time determining where to establish it.
Many cities, both large and small, throughout the U.S. are dealing with problems such as the following:
- Population growth
- Fading workforce
- Climate changes
- Slow economies
However, many cities are becoming popular locations for entrepreneurs due to features such as:
- Strong, educated personnel
- Below average living costs
- Tax advantages
- Supportive living conditions
An important factor includes the local markets. Many small businesses rely on the market around them, so if the local market has below average salaries, it may not be a great location for a new business. Businesses that service outside markets can take advantage of establishing their location in a less wealthy city; however, this is not ideal for most small startups.
What to Look for in the Best U.S. Cities for Businesses
There are many key factors to consider and look for when seeking a location for a business including:
- A younger population
- An educated workforce
- Competitive schools
- A low unemployment rate
- A strong infrastructure
- Higher taxes
- Large corporations
- Average income
- A rush of new businesses
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