Choosing one of the best business cities in the US can be tricky since the nation’s economy is made up of over 30 million independent shops and nonprofits. So, what’s that one hot city that will give you all you need? Whether you’re relocating the office or launching a startup, you should be completely certain that the environment is right for you and your enterprise.
Since there are a large number of places you can consider for your enterprise, it’s important to do some research and check the overall ranking – quality of life, possibility for your company to bloom, and similar stuff. Let’s find out what are the top seven rated places in the US.
What Do You Need to Know When Picking the Most Suitable Place for a Successful Startup?
Finding and selecting the best cities for business in the US entails doing some serious research on the area, learning about the demographics of potential customers, and taking into account the locations of your competitors. Before settling on a spot, it’s wise to give some thought to your own requirements as a brand owner. This means you should have professional merchant services credit card processing that can help you boost your sales and make purchasing even easier for your customers.
So, here are some of the facts you should consider when picking the right place for your brand.
- Think about how your business’s location will affect your brand, especially when it comes to high-risk enterprises, as you explore different options. You probably shouldn’t put up a new office supply store in the middle of a chic boutique shopping area. To the same extent, a high-end eatery might struggle to attract customers in a university town or rural area where people tend to eat out on a budget.
- In order to avoid major setbacks like low stock or lengthy delays, you should choose a location that facilitates communication with your suppliers and vendors. When deciding where to set up a shop, it’s important to think about how much time and money will be saved by having access to essential supplies closer to home.
- Ideally, you should find a spot for your company where there is little to no direct competition. Try to find places with a high demand for your service or product and where there is little competition. To make sure your new location is a good fit for your brand and the community, look for one where the other establishments on the frame are complementary.
#1 San Francisco, California, Is Home to Numerous Small Enterprises
Smaller brand owners can find a variety of resources in many different places across the United States, from government grants to mentorship programs. Furthermore, there are some areas that are more conducive to launching a company than others – San Francisco is one of them.
San Francisco’s beautiful climate and vibrant culture make it an ideal setting for entrepreneurs to turn their ideas into profitable enterprises. The city government maintains a website with numerous tools for startup owners. Another reason why San Francisco is a great place to start an enterprise is that the city’s residents are dedicated to their communities and have the resources to help the city’s 120,000+ smaller enterprises succeed.
When it comes to the Golden State, it pops up again for a good reason further down the road. California hosts more small businesses than any other state (4.2 million). Almost half of the state’s workforce is employed by entrepreneurs. In fact, it has 40% more small enterprises than Texas, which has the second-highest total at 3 million.
#2 Minneapolis, Minnesota Hosts Some Major Corporations
Even though Minneapolis is best known as the place with some major corporations such as Best Buy and Target (and the country’s largest shopping center, the Mall of America), it’s also among the favorite places for smaller company owners. Minneapolis hosts more Fortune 500 headquarters than any other place on the planet per capita. The Twin Cities are home to the headquarters of thirty Fortune 100 companies and sixteen of the largest Fortune 500 companies. For most people, this is an excellent place to start an enterprise.
#3 Austin, Texas Supports Many Independent Brands
The Lone Star State is famous for its vibrant music scene, distinct culture, and artistic vibe. Austin, Texas is filled with thousands of independent shops and restaurants selling everything from gourmet fare made with local ingredients to one-of-a-kind gifts. Austin can accommodate a wide variety of small businesses, no matter how out-of-the-box the idea may be, because of its population of just a bit over one million and its lower cost of living than so many major cities.
However, starting a different brand will take you more time than you actually thought was needed. After all, you’ll need to think about how to provide good customer service that includes a discount program, consider some PayPal alternatives such as Apple Pay, and be aware of all the credit card statistics (it can help you pick the most suitable merchant processing company).
Have the All Needed Data and Good Credit Points for a Successful Startup in Austin
It is not easy to start another online company in the present day. Choices abound, but if you really want to make a difference, you’ll have to put in a lot of work – from figuring out what cashback is to how the e-commerce payments processing works. Also, remember the tax deductions. But don’t let that stop you from making your dream come true. This being said, let’s check what you actually need in Austin:
- Have a budget plan,
- Enterprise registration,
- The right enterprise entity,
- Bank account and insurance,
- The right software tools,
- Suitable financing solution.
#4 Columbus, Ohio, Has Increased Its Employment Rate for College Graduates
In Columbus, many doors can be opened, as there are always emerging brands, innovative ideas, and available positions. For instance, one of our more than a hundred portfolio companies, ScriptDrop, founded by former CoverMyMeds employees, planned to increase the employment rate by 80 people by 2022.
Ohio has over 350 educational institutions, including 126 four-year universities, countless community colleges, and a plethora of specialized trade schools, all of which contribute to the state’s ability to supply the innovative private sector with the new hires they require. Doing so, Columbus ranks as one of the top five US places for recent college graduates. However, you need to be aware of e-commerce fraud, no matter what enterprise you plan to run. Learn all about e-commerce fraud prevention and run a personal brand without a worry on your mind.
Local Corporations Invest in Startups in Columbus
Several local enterprises have set up venture capital funds, including Nationwide Mutual Insurance and Grange Insurance. Now that Columbus won the $40 million Smart City Challenge competition in 2016, the city is placing a lot of money on that victory. As part of their Smart Columbus plan, there are nine initiatives focused on EVs, AVs, and smart sensors to be launched.
#5 Nashville, Tennessee Aims for More Diversity in Economy
Tennessee has a diverse and robust economy, is close to three-quarters of the entire US population, and has a low business tax burden and cost of living. It also has an online brand registration system and access to nontraditional financing. This not only means you should consider all the pros and cons of online vs. traditional shopping but also learn all about the e-commerce merchant account.
Over the past few years, Nashville has been actively working on having diversity in its economy. While the healthcare industry remains one of the largest employers here, other sectors such as finance, education, and tourism also contribute greatly to the area’s prosperity. Medium businesses have a lot of room to grow in a variety of directions because they face little competition from larger, more established firms that have higher costs that they must ultimately pass on to their customers.
#6 Portland, Oregon Offers Good Tax Sales Systems With Good Living Conditions
In addition to its easy access to capital, Portland, Oregon has pro-company incentives, and the good systems for taxes also win over many brand owners. The city and the surrounding countryside both offer fantastic living conditions. All this makes it a great area for starting a microbusiness or any other enterprise.
Here are additional factors you need to consider.
Favorable tax-related system
Based on the Tax Foundation research, Oregon is one of the most enterprise-friendly states in the country. The retail industry in Oregon benefits the most from the state’s structure for taxes, which does not impose a sales tax. There is no limit on the number of years that corporate net operating losses can be carried forward in Oregon, which can significantly lower your company’s taxes bill and free up capital for reinvestment.
Pro-business climate
Oregon provides a number of benefits to help new and successful small businesses reach remarkable results. Some counties in Oregon offer special incentives to new and expanding brands. One such program is called Oregon Investment Advantage. If your company generates at least five full-time positions in a qualifying county, you may be able to deduct all or a large portion of personal state corporate income taxes liability for up to ten years. Enterprises in Oregon also have priority when bidding on state and local government contracts through the Emerging Small Business certification program.
The thriving startup community
Oregon, and Portland, in particular, is rapidly expanding into the top destination for ambitious businesspeople. Portland is home to a thriving startup community that includes enterprises from many different sectors, including the technology sector, the food industry at its infancy, and the fashion industry’s cutting edge (these are surely some of the small brand ideas you should have in mind if considering relocating to Portland). All sorts of new ventures and cross-pollination opportunities are available in the city’s many events, resources, events, meetups, and training and development programs.
#7 Denver, Colorado Is the Birthplace of Techstars
Due to its low cost of living, proximity to outdoor activities, and low cost of forming an LLC, Colorado has become a popular choice for new enterprise owners. Every year, Denver adds to its already impressive roster of attractions, including stunning Rockies vistas, world-class skiing, and more than 80,000 entrepreneurs. So, besides figuring out what credit card machine for smaller enterprises is most suitable and choosing between credit card vs. cash, you definitely need to know that one of the main reasons why startups have flocked to Denver, CO, is because of the unemployment rate – it’s less than 3%.
Many entrepreneurs value the availability of Colorado’s resources for their startups and their teams. For example, Boulder, Colorado, was the inspiration for what is now a worldwide startup ecosystem known as Techstars. Techstars is an excellent program with a wide range of resources available to its participants. Denver Startup Week is another excellent initiative that has helped draw more attention to the local startup scene from outside of Colorado. What better way to gauge the growing significance of Colorado’s startup scene?
Let Your Enterprise Flourish in One of the Best Business Cities in the US Alongside With Credit Card Processing Company
Building a personal enterprise from scratch is a challenging endeavor. Included in this is the conducive environment in which it can flourish, and your thoughts can percolate. For this reason, it’s crucial that you locate a setting that guarantees favorable results. In addition to many other things, you must locate reputable credit card processing services. Don’t lose your precious time and contact us because we’re one of the credit card processing companies that will ensure your company is in good hands.
