As of 2019, the United States ranked 6th best country with the ease of doing business globally. And of course, the United States is a household name when talking about the countries with the best economy.
However, despite the economic prowess of this country, you will agree that not all cities or states in the US are favorable for business startups. There are more than fifty states in the US, and each state has its laws, regulations, and taxation rates.
To get you started, we’ve curated the best places in the United States to launch a new business.
The Austin metropolitan region has a population of slightly over 2 million people. It is home to major tech companies and a flourishing music scene. The greater Austin area is especially accommodating to the needs of small businesses. This could be why the SXSW festival, which promotes technological advancement, has been held in this city since 1987.
Because the University of Texas is located in Austin, the workforce is relatively young and well educated. It came in the first place as the metropolitan region with the highest rate of population growth and the biggest number of newly established small companies.
Additionally, there are no individual or corporate income taxes at the state level. There is sufficient diversity in the present industries to provide various opportunities for new businesses.
Technology is a primary factor in the expansion of small businesses. Austin is the fifth-best city in the United States for attracting and retaining tech talent. Office rents have increased by 30 percent over the previous five years due to surge in the employment rate in the IT sector. This increase has helped keep the unemployment rate low (3.1%).
Los Angeles, CA
The city is widely recognized as a hub for new business ventures in the technology sector. The city of flowers and sunshine is home to one of the highest concentrations of engineering graduates in the United States. This makes it the third-largest startup cluster in the country (behind only Silicon Valley and New York). Also, Los Angeles has successfully lured many venture capital investments and investors.
Santa Monica is one of the most expensive neighborhoods in Los Angeles. It is rather inexpensive, particularly when compared to San Francisco. The city does not lack high-profile enterprises. Snapchat, SpaceX, Oculus, and Riot Games, the company that developed League of Legends, are all headquartered in Los Angeles.
A community of business owners is fueled and maintained by the city’s energy, regardless of whether they settled there because of its diversity, the pleasant climate, or the laid-back culture.
Boulder, Colorado, is an entrepreneurial powerhouse and is ranked number one for giving women entrepreneurs the chance to start their businesses.
When it comes to GDP, it is one of the twenty most productive cities in the United States. This city has enough resources to help the economy of the United States grow sustainably, so it attracts a lot of high-profile startups.
Miami is the city with the newest businesses. This city is known for its beaches, sun, tourism, and for being the most entrepreneurial city in the United States. This city is home to well-known high-tech companies like Google, Facebook, Twitter, Apple, etc.
It also gives people the chance to start their businesses. You will seamlessly find high-skilled and creative people in Miami to run your business.
This region is an important center for new business ventures. The city is home to many locally owned and operated small businesses, such as a self-service pet grooming parlor, a design your bike store, and more local breweries and food trucks than you can shake a stick at.
San Jose, California
San Jose, a community that is now encircled by technological behemoths such as Google and Facebook, is in the center of Silicon Valley. However, you shouldn’t allow this to deter you from establishing a small business in this location. Even now, San Jose is among the top places in the country for starting a new company.
After all, those folks in the tech industry still need to use their neighborhood’s coffee shops, boutiques, and restaurants, so why shouldn’t it be yours?
Bring your expertise in managing a business to the state of Ohio! The city of Columbus aces the competition by having many young adults who have completed their education and maintaining reasonable housing costs.
Consider the following: young adults who spend less on housing costs are likely to have a bigger portion of their income available for discretionary spending, which means they are more likely to patronize your locally owned and operated business.
You will be one step closer to making a profit, and your firm will get off to a solid start if you know the greatest areas to start a business in the US. You can choose any of the cities we’ve highlighted in the post.
Unlike before, moving to the US and starting a business is no longer a walk in the park. So, we’ll advise you to consult the best US Immigration lawyer for proper counseling and guidance.