Do you just finish your college education and you are looking for a way to starting a small-scale business as an entrepreneur? Researching the best business location to move to, can be a great option to consider before deciding the next in line. The chances are that some cities are a better match for start-up businesses than others. If your current location is not an enabling environment for your intending business, moving to a city that can bring the best out of your efforts is an excellent decision.
On the other hand, if you are an entrepreneur looking for a way to launch a new business or expanding on the current one elsewhere, choosing the best location to move to where your service is needed plays a vital role in guaranteeing the success of the business.
Some cities or environments are characterized by some positive attributes to aid business to grow faster than others. The United States is known as homes of opportunities where people from all over the world are moving to in the search for greener pasture, and entrepreneurs who want to start their businesses are not left out. However, you can’t just carry the map of US and start picking cities to relocate to.
Moving Feedback teams have researched different cities of the United States based on their various business opportunities. This post aims to throw more light on this, and we will start by first looking at the factors considered to arrive at this list.
Criteria and Factors Considered
There are a number of factors and the attributes considered to select a city for a particular business. The criteria are categorized into two, and they are as discussed below:
Market conditions and demands: The conditions at which people accept the goods or services provided in the cities are factors to consider. The consideration for market conditions and demand include location density, consumer spending, robust population, the number of households, and as well as awareness of the cost of living of the city, product or service market demands, the net worth of average households, average household income, and much more.
A favorable environment for business and resource access: This involves low labor cost, taxes, the rate of business growth, market friendliness for small business, permits, funding, easy access to business loans, and overall economic conditions of the place.
Top 6 US Cities for Start-ups and Entrepreneurs
Starting a business require a feasibility study and this is based on what to start, where to start, and how to start. Above all, location is as important as the business you want to enter. Some locations sell more than others, and this is where your feasibility lies. Discovering a place that would grow your business faster and planning to move there is like putting the round pole in a round hole.
Moving Feedback has done this feasibility study as regards the best locations in the US to start a profitable business and it has been narrowed down to 6 best cities to help you with your decision.
Herewith are the top US cities for start-ups and entrepreneurs:
Denver is one of the ideal places to start a business considering a number of factors that give it an edge over others. The city has a high rate of startup growth with 74.9%, being one of the cities with the fastest growing metros in Colorado. It has always been the first choice of young entrepreneurs due to easy access to small business credit loans and as well as its reduced cost of running a business and affordable business-friendly economy in the country.
It has one of the lowest unemployment rates in the country with an identifiable quality college education.
Houston is studied, ranked and believed to be one of the best cities for young entrepreneurs to start a business. The city is the largest city in Texas and ranked #6 in the US. According to CNBC, Entrepreneur Magazine, and Thumbtack, Houston is an ideal place for entrepreneurs who are aiming to start a business with low capital and with startup growth rate of 78.3%. Entrepreneurs tend to enjoy a low cost of living, higher household income than the national average and friendly environment for business to grow faster.
Dallas – Fort Worth, TX
Dallas-Fort Worth is one of the top 10 places in America to start a business. Considering its highly educated population, low startup business cost, and low living cost; the city is continuously topping the business-friendly location chart. It ranks 11th position with 77.4% startup growth rate as recorded by the Kauffman Index. It has the lowest labor cost and accommodation compared to the national average cost. Are you looking for a city with such quality, consider moving to Dallas-Fort Worth.
Chicago has been surveyed to be one of the highest potentials for business growth in the US. As a result, the city is fast becoming a hub for startup entrepreneurs who are looking for an enabling environment to start a business. Chicago is known for its low cost of living and innovative mentality to aid faster business growth. The city recently outranked Silicon Valley and New York City as startup business region of the United States with its highest venture capital returns. It was named #2 out of the top 25 cities to start a business in 2015, and other considerations that make Chicago a favorite city to move to.
Austin is characterized by a number of attributes to be #2 on this list of top US cities for a startup business in 2018. Some of these attributes include life quality, the low crime rate for business, quality healthcare, quality education, affordable housing, low living cost, fast-growing economy, amongst others. The top factors of the city for its consideration for a startup business is Austin’s low startup costs and as well as the low unemployment rate and encouraging household income in level with the national average. It is among the top 10 cities for Economic Potential of the United States.
Atlanta has been considered among the top cities for start-ups and entrepreneurs by many business experts at Inc. Magazine, Entrepreneur Magazine, Forbes, and other top prestigious business experts. The city is ranked 11th among the top 25 metro city for easy access to credit loans and is one of the lowest business running cost in the US. It is well-deserved to be #1 on this list.
The startup growth rate of the city stands at 112%, and being among the leading cities of the US concentrated wealth and ranked 7th position for American Cities of the Future, Atlanta is a city to move to, for startup business and entrepreneur.
The following table displays the top US cities for startups and entrepreneurs in 2018:
|No.||Top US Cities for Start-ups and Entrepreneurs in 2018|
|4.||Dallas – Fort Worth, TX|
Is this kind of information you have been waiting for? Researching the right location for starting a business can be a challenge as one may be in dilemma of choosing the best for startup entrepreneurs. This post has done justice to the top US cities for startups and entrepreneurs. If you have seen a city that matches your business needs among the listed cities above, you may start arranging your move to the place as soon as possible. Stay tuned for more informative posts from this page!