Best City to Start a Business

Are you looking into starting your very own business?  Which city should you choose?

In a year of rising prices, some metropolitan areas really stand out when it comes to keeping costs down and attracting intelligent people.  Consumers certainly are not the only ones dealing with the problems at the pump. Energy prices rose an estimated 6.6% for businesses last year.  There was also an 8% jump in taxes. The most expensive state to make your business home, California.  This state alone claims 12 of the 20 most expensive metropolitan areas in the nation.

It is very common for a business owner to decide to relocate to a different city because they believe their business will be provided with some unique advantages in the new location.  Given the current economic state, everyone is interested in starting their business strategically in a certain location to give the business the best shot at success.

What are the 5 best cities to start a business in and why:

AUSTIN, SAN MARCOS TEXAS

Population = 1,250,000

Median Home Price = $170,000

Major Industries = Technology and business services.

Why –

Texas has no personal or corporate state income tax.  Very few unions.  There are 8 fairly well known universities and colleges in the general area, enrolling over 114,000 students.  Because of the colleges, there are many highly trained and readily available employees.

WASHINGTON DC AREA

Population = 7,610,000

Median Home Price = $425,000

Major Industries = Technology, tourism, government.

Why –

There has been a good deal of recent development of different areas of the city, which has created countless business opportunities.  John’s Hopkins University holds the ultime record of receiving the most federal research money out of any United States university.  That is pretty impressive information.  DC is currently experiencing a great deal of metropolitan population growth.  There has also been a recent growth in government contracted business opportunities in the general area.

MEMPHIS TENESSEE

Population = 1,140,000

Median Home Price = $150,000

Major Industries = Biomedical, research, logistics, information technology, hospitality, food processing, manufacturing, and tourism.

Why –

Memphis is home to 1 of the largest casino clusters in the U.S.  There is a $2.3 Billion dollar tourism industry in Memphis.  This city has more historic listings per capita than any other city in the nation.  The world’s busiest cargo airport is located in this great city.  There is also a program that offers accounting and legal services to small businesses to help them actually apply for government contracts.  And, in my opinion, this just tops it off, THE COST OF LIVING IS 10% UNDER THE NATIONAL AVERAGE!!!!!!

NASHVILLE TENESSEE

Population = 1,230,000

Median Home Price = $170,000

Major Industries = Manufacturing, technology, automotive, healthcare, call centers, and distribution/warehouse.

Why –

This area certainly appears to be the center for quite a few independently owned, entrepreneurial medical and healthcare companies.  There are 20 universities, colleges, and certification programs in the local area.  Nearly 50% of the adults over the age of 25 have had a year or more of college education.  Nashville is also the world headquarters for religious publishing.

NEWPORT NEWS, VIRGINIA

Population = 1,570,000

Median Home Price = $225,000

Major Industries = Maritime, military.

Why –

There are lots of Navy and Air force activity and institutions in this area.  There are many popular tourist spots, just to name a few: Colonial Williamsburg and Jamestown.  Very competitive prices on land and buildings.  
But, possibly the best reason being that Newport News has A BUSINESS VISITATION PROGRAM.

And, just what is THAT?

A business retention program that keeps Newport News businesses informed about opportunities for growth and expansion.  They help you with your business success!