If you have some business idea and looking forward to launching it, try it in some of these 10 best cities for startups in the US.
What makes some city best for opening up some new business? It all depends on the type of business you are about to start. One of the main things that you need to look through are the taxes in each city and find the one that fits you the best. Also, the low cost of living index is always welcome and for that information, you should use the Missouri Economic Research and Information Center. Besides that, you need to check the licenses and the city’s resources and interests. As you can see, starting your own business isn’t piece of cake. You have to pay attention to different terms and laws and it still doesn’t guarantee any success. But the place where you are planning to start a business does matter. Sometimes, it is as important as starting a grocery store in a village where there was previously none of them. Some other times, it is about starting a business in a place where government and citizens appreciate that profession the most.
For compiling the list of 10 best cities for startups in the US, the main used source was Kauffman Index. This site contained the rate of new entrepreneurs, startup density, and the opportunity share, that were taken as primary criteria. Not surprisingly at all, when the list was finished, three out of ten cities were placed in California. It seems that California knows how to attract people from each field. There are San Jose, San Francisco, and Los Angeles. It is interesting that no matter which list we are talking about, these three cities always come up at some point. And why is that? As it seems to me, California in general mostly looks for ways to help as many people as it can and make everyone feel comfortable, no matter whether they headed there for vacation or live there their whole life.
As for this list, let’s see some numbers to understand better how did these cities came here starting with San Jose, that was ranked 8th. According to the Kauffman Index, the rate of new entrepreneurs is around 0.31%, startup density 88, and the opportunity share is estimated to be 94%.
San Francisco shows a bit better numbers, which is why it is in the 4th place. The rate of new entrepreneurs is 0.46%, while the opportunity share is lower than in San Jose, 82%. The last was the startup density of 83.
LA managed to get into top 3 with the rate of new entrepreneurs of 0.51%, opportunity share 76%, and the startup density of 92.
To see the whole list, proceed to 10 best cities for startups in the US by Insider Monkey.