Taking a leap of faith and starting a business can be overwhelming and full of emotions. Picking out an eye-catching name, strategizing the business model, deciding if you need to use a PEO company (like the ones found on retire at 21) and selecting the perfect location are all top line items that must be done well to ensure a good start. Don’t forget though, that it’s not just your location that you need to concern yourself with, but you also need to make sure that your business is actually a good one. For example, if your business is in quite a niche market with plenty of competition, ensuring you stand out from the crowd is essential. If you wanted to start an inflatable business, for instance, investing in bounce houses from JungleJumps would be a strategic way to go, with high-quality and individualistic equipment. There are a few other things you need to consider as well, such as how many people will you hire (and if it would be better to make use of a leave management system to keep your employees happy), if your business names works well. These are only a few things that you will need to consider when you start your business. However, for the time being, you should probably make sure that the location you pick works well for you. Luckily, Inc. revealed earlier this month the list of the top 50 places in America to start a business – based on seven factors that make all the difference. The local workforce, funding and growth patterns were all taken into account. Here’s a recap of the top four cities to consider:
1. Austin, TX – Are you surprised? In the last couple years, Austin has been expanding unlike any other city and attracting top companies like athletic clothing companies and venture capital firms. With young entrepreneurs and a reasonable cost of living, Austin comes at the top of the list for start-ups to thrive in.
2. Salt Lake City, UT – Start-ups in the tech industry are taking over Salt Lake City. Compared to other major cities across the country, people launching their businesses here are striving thanks to affordable living and the local talent graduating from nearby universities – making for a great work force to pull from.
3. Raleigh, NC – Since 2017, revenue from businesses based in North Carolina have surpassed the $1.1 billion mark and not slowing down any time soon. The local Raleigh population is made up of eager and dedicated college educated young adults and businesses in the food and software scene are quickly attracting their attention.
4. Nashville, TN – While we all associate Nashville as the Music City, the city also provides the ideal destination for businesses in the health sector to make their presence known. According to Inc., six of the nation’s 10 biggest for-profit hospital chains are located in Nashville. With everyone keeping their eye on this booming city, Nashville is a great spot to consider whether you’re starting a business or looking to expand.
Finding the right location for your business is instrumental to the success of the company. Before signing off on that spot, do your research. Look into the demographic, competitors and what the future look like for the city. Beginning a business is an exciting process and can bring many good things for your company. If you are distributing products, you will want to contact private label suppliers to get you in touch with people in the same line of work as you, you can see if you may be of service to them and if they’ll be able to help you with manufacturing your product. The more you have on your hands to analyze, the better chance you have of finding the perfect option that best suits your needs and business. For the entire list of cities, check out https://www.inc.com/surge-cities/best-places-start-business.html.
