It’s said giants like Google or Amazon started in a garage. However, the times when big businesses were set up in this way have passed. Running a start-up in 2021 means, you’ll have to assemble the team to work on the project, get an office, know which state provides the best tax incentives, and make a detailed financial plan to keep up with all the costs.
Best Cities for Startups and Young Entrepreneurs in the US
Startups are redefining the world’s economy, and the way businesses operate. But, coming up with brilliant ideas nowadays means a strategic approach to business development, active search for new opportunities, and constant brainstorming on quality and product improvement. Here is the list of the best cities for startups all across America where your idea will become a reality.
What Cities Are Best for Start-Ups? What Should You Know When Looking For One
The USA is definitely the world’s no one country that shapes the startup landscape. More and more states recognize the positive effects entrepreneurial endeavors have on the economy. Not only do startups create new jobs, but they also attract the biggest tech companies ready to invest in innovations.
Tax incentives, essay access to venture capital, accelerator hubs for young entrepreneurs to develop their ideas are only some of a few benefits to find in the best cities to start a business. So when wondering What is the best city in the world to start a business, look into all of these benefits and you’ll surely find the right answer.
#1: Austin’s Exploding Startup Ecosystem Makes It One of the Best US Cities for Startups
Where is the best place to start a startup? The correct answer is – where you can get the best offer to develop and scale your business. And the fast-growing startup city of Austin in Texas could be just the right place for it! According to the latest survey, Austin has been named the #1 place in America to start a business.
Thanks to the University of Texas and its research base that assembled the leading experts from the tech industry, Austin became a new tech-capital city in the US. With more than 6,500 high-tech startups, 90 incubator hubs, and inspiring coworking spaces, were enough reasons for some of the most successful projects to be based here.
There Is No Tax on Personal Income Nor Corporate Taxes – Enough Reasons to Be One of the Best Startup Cities
Generous tax incentives Texas provides for its residents was the main reason why young entrepreneurs chose to move to Texas. Followed by the affordable cost of living and housing prices too, safe surroundings, and a business-friendly environment made moving to Austin become an acceptable alternative to Silicon Valley.
#2: Which City Has the Most Startups in the US? San Francisco Area in Sunny California Is the Answer!
According to the latest report by the Center for American Entrepreneurship, San Francisco takes second place on the list of 20 Global Cities for Contribution to Venture Capital Investment Growth. This proves the Golden City is still one of the prevailing startup cities all around the globe.
With a long tradition of startup businesses that paved the way for new ones, a constant flow of talents, and some of the world’s greatest venture investors, SF is pacing the future. Cryptocurrency banking, cybersecurity AI, software, travel, or health are only a few of promising projects preparing to make some remarkable exits.
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San Francisco Is One of the Best Places for Startups and the Most Expensive Too
Undeniably, the Golden City is one of the best places to live in California for young adults. The wide range of jobs, endless opportunities to scale your small firm fast, and a bunch of interesting things to do in SF, are only a few of the many perks moving to San Francisco will bring you.
On the other hand, the greatest disadvantage of living in San Francisco is the high cost of living, even for the US standards. Renting your own place could be too expensive for a start, but luckily there are many roommate websites that will help you keep up with the costs. Still, keep in mind that the Golden City is the second-most-expensive metropolis in the US, meaning it requires detailed budgeting and careful planning.
#3: Portland – The Silicon Forest Is One of the Best Cities for Startups
The Portland metropolitan area is home to one of the largest high-tech clusters in the US. And the long tradition of high-tech companies dates back to the 1940s when Portland was the pioneering place for electro scientific industries.
The entrepreneurial spirit of its residents, the percentage of self-employed people in Portland is 11%, quality infrastructure, natural resources, and good cooperation with the Government made this place so attractive for investors. Local entrepreneurs invested more than $600 million only in 2018, which boosted the whole ecosystem, and enabled numerous successful exits for Portland’s startups.
Industries that Drive Portland’s Growth and Makes One of the Best City to Start a Business
The four major industries Portland recognized as the driving force of its economic growth are:
- Athletic and outdoor products,
- Manufacturing,
- Green building and technology,
- Softwares.
This is the reason why companies like Nike and Jaguar Landrover based their accelerator hubs right here. Still, Portland’s innovative small companies are mostly oriented towards the improvement of the quality of people’s lives, and that’s why many projects are dealing with environmental protection, social interaction, and conservation of nature.
#4: Atlanta Blossoming Tech Industry Makes It One of the Best Cities for Tech Startups
The story about Atlanta’s endeavors to be mapped on the vibrant startup scene starts back in the 90s, with a boom of the internet era. The best-kept tech secret soon became one of the most successful stories in America, and today is a breeding ground for billion-dollar startups and even sixteen 500 Fortune companies.
With the highest number of colleges and universities in the US and 48% of citizens that have bachelor’s degrees, Atlanta is one of the greatest research and innovation centers. This is the reason too, why Atlanta Tech Village is the 4th largest tech hub in the US.
There Will Be 1.9 Million Jobs Created In Atlanta By 2040
Only in ten years has the population increased by 25% in Atlanta, and it is estimated the number of citizens in the metro area will reach 8,6 million soon. The reason why all those people will choose to move to a new state is job-related. The growing business scene, multi-million investments by Google and Apple, looks promising. As well as the forecasted number of jobs to be created in the next two decades.
Other reasons why young entrepreneurs are flocking here are the pretty affordable costs of living in Atlanta and the lowest cost of doing business in the US. So, if you’re looking for the best solution to move a business to another state, Atlanta is the answer!
Women Entrepreneurs Attracted Some of the Best Investments to Atlanta
Famous coworking space Hypepotamus was the most welcoming place for tech companies led by women in Atlanta. Monique Hills, a serial entrepreneur, and Jewel Burks Solomon, who sold her company to Amazon and is now a Head of Google for Startups in the US, made their first steps here. Atlanta still supports female businesses by providing grants, loans, and incentives and is definitely one of the best places for women to start businesses.
#5: Unicorn Startups Are Flocking to Denver, a Fast-Growing Startup City
There is no city like Denver. It is one of the few US locations passionately dedicated to developing a startup scene. Multiple government grants and tax incentives that enable easier access to credit covered cost of relocation and supported commercialization of products are only a few benefits moving to Denver will provide. Not to mention the expenses. For example, compared to SF, the costs of living in Denver are, as the data shows, 44% lower.
The biggest advantage, of course, is a huge talent pool of young professionals capable of turning the idea into reality. This potential is recognized even by the biggest players in the industry like Google, Facebook, or Salesforce, who set up their offices here.
Support Is Easily Accessible and Diverse
Denver provides great support and guidance through the whole process for all those who have a brilliant idea but don’t know how to turn it into a reality. Numerous educational programs, training, consultations with industry experts, financial support by MicroLending Program, and much more is easily accessible here.
Denver’s government also funds a nonprofit public workspace that offers all necessary conditions like free wifi, workshops in pitching, crowdfunding, patent strategies, or networking events. After all, the Denver community is pretty open and welcoming, so finding like-minded people is not that difficult, even if you’re moving to another state alone.
Cross-country Movers Are Here to Help You Relocate to Some of the Best Cities for Entrepreneurs
If you’ve finally picked the right place to embark on the new entrepreneurial adventure, a cross-country moving company is here to help you get there. After you book the relocation date and all cross-country moving services you need, the very next step is to start boxing up your belongings and prepare for long-distance movers. Of course, juggling between business, relocation, and finding a new place to live is not easy, so you should definitely consider if some of the packing services could help you facilitate the whole process.
Remember that booking at least two different long-distance moving services guarantees better prices for the following ones, as well as some states are covering the relocation costs. Just make sure the long-distance moving company you choose is a legitimate one and capable of giving you the receipt, so you can claim the return on costs of relocation with the specific state that has this program. And while the movers are doing all the heavy lifting you can create the business plan that will skyrocket your enterprise.
