John Maddox
Start ups aren’t just thriving in New York and San Francisco. There’s other lesser talked about cities where businesses are doing great. In these cities you’ll find:
- Great transport links.
- Plenty of local customers and suppliers.
- Thriving technology hubs.
- And a lot of skilled employees.
So let’s talk through some of these now. You may even find you completely change your mind about where to start your business!
Salt Lake City
With a population of just over a million, low unemployment, and a very good percentage of graduates, Salt Lake City is thriving. Particularly for tech businesses.
The average home price is quite reasonable too, and the average income is slightly above the national average.
One important aspect of this city is there’s a lot of investors in the area. In fact, over a billion dollars in venture capital was invested into businesses, in 2014 alone.
Baltimore
Baltimore has a population of just under three million. And with a high average income, and a surprisingly low average home price, consider Baltimore for your next business.
In fact, the area has quietly become a bit of a hub for education businesses. Or more precisely – for education technology businesses. Also known as “Ed-Tech”.
Nashville, Tennessee
There’s a population of one and half million and a low average home price here. So why not consider Nashville for your next business?
Okay, traditionally the city is famous for its musical roots. And that influence continues to this day. The city has in fact become somewhat of a phenomenon in the media industry. Visit the area and you may be surprised to see a new media or creative business launching each day!
And in Nashville, and all the other cities listed, office space can be found inexpensively, if you look. Consider shared or temporary offices like Level Office to get a great working environment quickly.
Sacramento, California
This city has a population of just over two million, a reasonably high home price, and an average household income. Unemployment however is surprisingly high (compared to some cities listed here) at 6%.
First of all, it’s worth noting that this area is very much farming focused. It used to be jokingly known as Cow Town for decades (for obvious reasons). And that focus on agriculture remains.
In particular (even with California’s recent drought) there is a focus on growing almonds. They require a huge amount of water to grow, but they generate a very high revenue per acre compared to many other crops.
So food and agriculture businesses are a natural fit here. But that said, there’s also some high tech start ups growing in the area. Especially technology startups focused on the agricultural market.
Los Angeles
The City of Angels isn’t just about Hollywood (even though every waiter is of course an undiscovered star). With a huge population of 13 million, and a high proportion of graduates, this city has many other thriving industries.
One in particular is apparel. And surprisingly, when it comes to fashion, LA is even beating New York. One reason for this is when compared to the Big Apple, businesses can rent more space for far less money.
In fact, more than a third of US apparel and textile jobs are in LA. Plus, it even has its own fashion district with factories and wholesalers galore.
