Below we look at eight of the top cities for business across the United States. The list includes technology hubs and entrepreneurial hotspots – and we’ve also looked at the cost of housing, living standards, climate, and more.
Raleigh, North Carolina
Raleigh is at the top of our list for a good reason. This is a truly business-friendly city – and it offers a great location, good quality of life, and affordability. Together with Chapel Hill and Durham, Raleigh forms part of the so-called ‘Research Triangle,’ a part of North Carolina that is literally brimming with entrepreneurship and innovation. So serious is this city about converting great ideas into flourishing businesses that it has established an Innovators Program to assist with funding for new businesses.
Raleigh is the 4th most rapidly growing city in the United States. Beyond that, it’s got that great southern charm, and the museums, parks, and greenways are all free. The city is a particularly suitable destination for small businesses. It also boasts globally recognized universities, a strong retail sector, and thriving hospitality and tourism sectors.
Also known as the Music City, Nashville very nearly made it to the top spot on our list. From its creative culture and lush green landscapes to its friendly people, there is very little not to love about this city or the state in which it is located.
There’s another plus for prospective business owners: Tennessee has no state income tax, making it a particularly good location for small businesses. Nashville also offers high personal income and low property taxes, and unemployment. That means that the locals have enough money to make the city’s economy thrive. It shouldn’t surprise readers that Nashville has well over 53,000 businesses, many of which are startups.
Readers who are considering investing in the healthcare sector should take note that six of the nation’s 10 private hospital groups have their head offices in Nashville. There are also more than 800 startups in the city’s healthcare industry.
Apart from that, numerous resources are available in the state for aspiring entrepreneurs, such as the Nashville Entrepreneur Center.
The city also offers lots of room for both businesses and families to grow. The property market here is flourishing, and it’s a great option for people who want to start a new business and a new life. There is a vibrant creative community, and the music industry plays a strong role in Nashville’s economy. The cost of living is relatively low and several higher-education institutions exist.
Not only does Miami offer effortless access to South America, but it is also known to be a hub for creative activities. Small business owners and entrepreneurs who are planning to establish a business in the region can do much worse than setting up shop in this coastal city. Many investors and hedge funds have in recent times, found their way to Miami, drawn by the relatively low taxes and the sunny climate.
Co-working spaces, finance startups, and technology firms are all over the place. And since the launch of the city’s exciting design sector, creative industries have started to flourish here. The inclusive ambiance, multicultural society, and warm weather are all part of the reason why so many entrepreneurs are drawn to this part of the United States.
Salt Lake City, Utah
Salt Lake City, also known as SLC, is not only home to many major enterprises but also large numbers of medium-sized firms and startups. Despite having a fairly small population (the metropolitan area is home to around 1.2 million people), Salt Lake City has a highly educated and relatively young workforce. Nearly half (45.1% to be exact) of the city’s young professionals between the ages of 25 and 34 have either a Bachelor’s degree or something more impressive, like a Master’s degree or Ph.D. This makes Salt Lake City an ideal place to find new talent if you want to start a business.
The city is also perfect for doing business. In this regard, it compares well with Silicon Valley. It is also increasingly becoming a considerable force in the cybersecurity industry. Professionals from all over the United States find Salt Lake City appealing because of its convenient location close to many national parks – and the nearby desert with its trademark red rocks.
On top of all that, the cost of living here is relatively low.
Most people would probably not expect to find one of the most rapidly expanding cities in the U.S. in a state that is perhaps best known for its potatoes. But Boise in Idaho has more than meets the eye. Its vibrant college-city ambiance, short traveling times, and affordable living costs have made this city particularly popular among technology professionals who have become tired of the stressful life in Big Tech areas such as Silicon Valley.
The city’s Venture College has played a large role in helping to turn it into a fast-growing hub for technology entrepreneurs. Boise is no doubt a great option for businesses of all types. And readers who are fans of the great outdoors will adore spending their free time exploring the city’s beautiful parks, wilderness area, and hiking trails.
Atlanta has for a long time been regarded as an open technology secret. The city’s technology sector is thriving, with many billion-dollar startups. During the past five years, there has been explosive growth in the city’s venture capital market. This is a truly business-friendly city, and it should come as no surprise that its economy is the 10th biggest in the U.S.
Atlanta is home to many multinational businesses, including General Electric, Coca-Cola, and Microsoft. Many of these firms have decided to move to this city in the Southeastern United States because of its relatively low costs, international links, and big-city ambiance.
Another favorite among technology buffs, Austin in fact, attracts more high-tech startups than the San Francisco Bay area. Its amazing nightlife, great restaurants, wide selection of cultural activities, and beautiful mountain scenery make it a great city to work and live in. Plus, it’s a relatively short 4-hour drive to Dallas.
Prospective small business owners will be glad to hear that Austin is renowned for its crowdfunding campaigns and above-average success rates for new startups. Millennials find the city especially appealing, which means employers can choose from a large talent pool. Add to that the fact that Austin has no personal income tax, and it’s easy to understand why even Apple has an office here.
Readers who want to start a new business or grow an existing one will find Boston a great option. As the 10th largest urban region in the U.S., when it comes to employing staff, there are lots of talent to choose from. On top of that, property prices here are reasonable, and it’s fairly easy to find a good furnished or unfurnished apartment to rent at a reasonable price.
Although this is a true metropolis, it is nevertheless small enough to still feel that you are part of a community. Commutes are not overly long, so generally speaking, there is no need to spend half your day in traffic.
Finally, some of the top universities in the U.S. are based in Massachusetts, which means that when it comes to employing staff, you will enjoy access to some of the sharpest minds in the nation.