The world is full of opportunities and ways to make money, but one has to either find those opportunities, be given the opportunity, or create it. The way you find them is by searching for different ways to make money. They way they’re given to you is by meeting the right people and staying on their minds enough for them to bring opportunities to you. The way you create them is by starting your own business and offering other people your newly-made opportunity. If you are looking to create a business, in this article we will be discussing the topic of the best places to start a business, and how to incubate it in a place like London conference rooms.
Best Places to Start-Up a Business
I was reading a few articles on CNBC that discussed this exact topic and what I came to find out is that there are a few cities in which a business is more likely to succeed than others which include Orlando, Oklahoma City, Miami, Austin, Tampa, Charlotte, Durham, Raleigh, Atlanta, and Denver. These cities made the top 10 out of 100 that were studied based on three things:
- The cost of doing business
- Ease of access to resources
- The environment of business
Further, these cities were valued and compared based on 19 other metrics within each of the three categories. We don’t have the space in this article to go into each of the 19 metrics, but you can find the information by visiting the link listed here. The cities we listed above are the best large cities to start a business and so we are sure that if you look deep enough, you will also find the best small cities to launch a start-up in. These smaller cities that are starting to grow are referred to as emerging markets and you can find out which cities have been growing the fastest by reading the Milken Best Cities report found and provided by the Milken Institute.
Another two characteristics of great places to launch a business are having low taxes and a good regulatory environment. Lower taxes ensure that your business isn’t paying tremendous amounts to the government and a good regulatory environment means it won’t take you a long time to get the needed documentation to launch your business. This is the reason why many people have left and continue to leave states like California where income, self-employment, and business taxes are among the highest in the country.
If you’re looking to launch a business and create your dream job in your hometown, it would be a good idea to analyze the city based on the metrics we spoke about so you can get a better idea of what the environment is like. Think about it like you’re about to plant a garden. Would you plant a garden in a desert or near a river? The metaphor fits this description because the environment always affects how a plant, human, or business grows, and the better the environment, the better the thing will grow. It may be a good idea for you to start thinking about moving to a city or state in which you will have a better chance of growing your business.
In conclusion in this article we discussed the topic of the best places to launch a start-up business. The cities we listed have gone through a strenuous process and were evaluated using a 19-metric, 3 step process where the cities were given points based on how much it typically costs to do business in that city, how easy it is to access resources such as business loans, personnel, etc. and how the business environment is in the city. Meaning that if there are already hundreds and hundreds of businesses, it would be harder for you to be successful in such a competitive market. That is why cities like Los Angeles and New York didn’t even make the top 50.