Planning is a crucial part of setting up a business. Apart from knowing the kind of business that you want to start, you have to plan where you will set it up. Location will determine the success of your business, so you need to know which cities are best in which to start a business. Here is a short list of U.S. cities where you can successfully start your own business.
This is a metropolitan area with a population of about 6.5 million people. There are 2,015 businesses for every 100,000 people. This area has a highly educated populace, with 27.9 percent of the people having a business degree.
According to the Kosmont-Rose Institute Cost of Doing Business Survey, Dallas is among the 20 least expensive places to live. The survey looked at sales taxes, business licensing fees, utilities taxes, and property taxes. There is no personal income tax, occupation tax, or wage tax levied on your income. This is perhaps the reason why many Fortune 500 companies, such as Southwest Airlines and AT&T, have their offices here. This is an area suitable for small businesses, with almost 80 percent of the businesses here being classified as small businesses.
Kansas City, Missouri
With a population of about 2 million people, Kiplinger estimates nearly 2,300 businesses for every 100,000 people. The cost of living for an entrepreneur is 0.6 percent below the U.S. average. The population has a labor force with 30.5 percent having graduated with a bachelor’s degree.
Kansas City has a leaning toward technology firms, and a number of companies have taken advantage of the lower costs associated with technology-based start-ups in this area. The city has aptly been dubbed the “Silicon Prairie.” Google Fiber’s ultra high-speed network was started here in November 2012. The city is actively involved in enticing technology firms to come and start up here. There are some business incubators who can give you the required nudge in order to start your business well.
It has been said that this is one of the economic leaders of the whole country. This city is ideal for both small and large companies. This is a city that enjoys the best business environment in all of Texas. It has the fifth largest incomes in the country, meaning that it is ideal for entrepreneurs who want to build a business that will grow quickly. The work force is also rated as having the second largest growth rate in the country.
Atlanta is another city ideal for starting a small business. Most of the businesses here are in the biotechnology sector. Kiplinger states that 31.6 percent of the workforce has a bachelor’s degree, and the cost of living is 1.7 percent below the U.S. average. This is a city that knows how to court business entrepreneurs. In 1886 Coca-Cola was born here, and this company has become the flagship of the city. It has one of the busiest airports in the world, making it a great hub where you will have a stream of potential customers coming in every day.
About the Author: Bill Beau is a small business assistance blogger with Hawthorne Global, a freight forwarding company in Houston, Texas.
Trey Ratcliff – Dallas, Houston, Atlanta
Jim Nix – Kansas City