There are a whopping 30.2 million registered small businesses in the United States that make up over 99% of all companies in the country. While this number might seem intimidating, it only meets that you’ve got a great company. If you’re interested in starting your own small business and want to guarantee your success, then location is everything. Whether you’re starting a pet grooming service or a water well business, you’ll need to find the right place for it. While it’s possible to create your own small business just about anywhere in America, specific locations in the country are particularly conducive to the success of your start-up. Here’s a list of the best cities to launch your own small business in.
Texas is a lively city that boasts colorful music, art, and culinary scene and a decent cost of living. What makes the capital of the Lone Star State an excellent place to launch your start-up is that the city does not require a corporate income tax or an individual income tax. Certain businesses that earn below a certain threshold also have a very low business tax rate. These moderate tax policies, coupled with a thriving economy, a skilled workforce, and affordable living costs, make it a desirable location for those interested in launching a start-up.
Boston has a lot to offer aspiring small business owners. It has a very vibrant start-up community with plenty of funding options and resources, as well as start-up incubators and accelerators, to choose from. There’s also a large talent pool of young, talented, and well-educated professionals to help build your workforce since Boston University, Harvard, and MIT are located right in the heart of the city.
Columbus, Ohio is the ideal location to launch a small business, particularly if you’re in the sector of technology and innovation. Still, it welcomes entrepreneurs from just about every industry — from food and beverage to retail. There are plenty of venture capitalists, funding opportunities, laboratories, resources, and support systems in place to make it much easier to get your small business off the ground.
Minneapolis is a high-growth area for small businesses, even if it’s home to corporate behemoths like Best Buy, Mall of America, and Target. The city has been ranked as the third best city for small business entrepreneurs based on the growth of small businesses, the joblessness rate, the number of skilled professionals, and the standard cost of living in the area. If you’re looking for the ideal hub for creativity and innovation, this is it.
Portland has a vibrant and thriving community of creative entrepreneurs and a strong DIY spirit among the residents of the city. Because of this, the city favors small independent businesses and encourages the proliferation of such enterprises. Your business will likely fit right in. Launching your small business here gives you access to a highly educated workforce, tons of funding and contract opportunities, and start-up business resources and support.
Are you looking for the best place to plant the seeds of your start-up opportunity? Look no further than the small business-friendly locations mentioned on this list.