Top 5 American Cities for Entrepreneurs and Start-ups
America has long been known as the ‘Land of Opportunity’. Despite recent political unrest and change, the fact is that America continues to be a massive global player when it comes to developing business and economics. As an internationally recognised hub for all things business, it’s unsurprising that the United States is a breeding ground for entrepreneurial businesses of all shapes and sizes. As global advisors in credit, we’ve observed and put together a list of the top five US cities that are showcasing the best of entrepreneurial talent in the country and where might be best for you to start your new business.
1. Boulder, Colorado
Based in the state of Colorado, Boulder might seem a surprising choice for the top of this list. Home to the state’s largest university, University of Colorado, Boulder has been top spot for many young entrepreneurs in recent years, thanks to its growth of science and technology start-ups, as well as a host of art and creative industries, all boasting a real drive for innovation. Both employment and business growth has been on the rise in this city since 2011, and with its thriving outdoor activity tourist industry and beautiful mountain scenery, it’s no wonder people are drawn to it. While cost of living and housing prices may be higher than the national average, with the business environment being so positive, you could find yourself flying high soon enough.
2. Austin, Texas
Not only is Austin the state capital of Texas, it’s the fastest growing city in the United States, and one of the most highly educated, with more than one third of the population having a bachelor’s degree or higher. Like Boulder, it’s home to a large university, the University of Texas, and plays host to several big technology companies and start-ups, including Apple, Google, and Amazon. It has a reputation as a city of innovation, and is fiercely proud of its small business culture, reflected in their unofficial slogan ‘Keep Austin Weird’. It’s a city that is growing and a natural home for entrepreneurs of all ages, races, and backgrounds.
3. Provo, Utah
Provo is most famous for being home to the Brigham Young University, a university operated by The Church of Jesus Christ of the Latter-Day Saints (more commonly known as Mormons). However, the city offers much more than just a university. There is a growing technology and science industry, thanks in part to its highly-educated workforce, as well as a strong activity tourism sector due to the surrounding area being rich in outdoor sport capabilities, such as water sports. On top of this, the city has been rated as one of the most affordable in the US, and has a high ranking when it comes to the health and wellbeing of its residents.
4. Charlottesville, Virginia
Charlottesville is perhaps the smallest of the cities on this list, but that is not to say it has less of a thriving entrepreneurial environment. A city steeped in American colonial history, it boasts a large medical university which contains a Laboratory of Innovation within the campus, contributing to its developing entrepreneurial spirit. Business councils and investment collaborations have led to several start-ups established, including Reddit. Cost of living is again slightly higher than the national average, however the city has good weather, amenities and a considerable growth in business to offset this.
5. Seattle, Washington
Seattle is perhaps one of the most famous places for start-up businesses, with Starbucks originating from this Washington city. Seattle is also home to several major technology companies, with Boeing, Microsoft and Amazon all calling the city home. It’s fast becoming famous as the ‘second choice’ or ‘stepping stone’ for the Silicon Valley companies, which is again driving its technology industry growth. A large city with good opportunities for start-up business enterprises, a downside is the weather (the city experiences a lot of rainfall) and the cost of living and house prices, which are far above the national average.
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