Considering finally taking the plunge and starting your business? Location plays a surprisingly large part in your success. You’ll need to find an environment that attracts top talent, but doesn’t have high business taxes or restrictions. Luckily, there are many cities, both within the US and abroad that are perfect places to get started.
- Oklahoma City: Entrepreneur recently named this the number one place to start a small business, so it’s definitely worth a look. This area has recently been attracting plenty of young people due to the low cost of living in the area – you can easily live in a high-rise apartment or home in your early 20s here. The city also makes starting a business very easy, and it’s also one of the fastest growing cities in the country.
- Austin: Known as being one of the hippest cities in the US, Austin really supports its local businesses. The population is young, educated, and open to trying new things, and there are no state and local taxes to boot. The area is particularly great for tech startups due to SXSW, a major festival held here.
- Raleigh: North Carolina has been attracting many young professionals and families for years because of the great job opportunities and relatively low cost of living here. There are many major universities located close to this city, so it is a perfect place for tech and health startups.
- Irvine: If you want to head to the west coast, but don’t want the competitive atmosphere and high costs of Los Angeles or Seattle, try heading to this smaller Orange County city. Home to UC Irvine, the area attracts a diverse variety of college educated professionals, and the city takes specific measures to support small businesses.
- Oslo: This Norwegian city is currently listed as the fastest-growing city in Europe. The population is extremely well-educated, and the country as a whole is extremely wealthy. Although this may be a barrier to those on a budget, if you can get past this obstacle, the city is extremely friendly and welcoming to newcomers, and the economy is very strong as well.
- Wellington: Want to live a simpler lifestyle while starting your own business? Consider heading down south to New Zealand. This city has recently been offering tons of incentives to new businesses, and the culture is very innovative and friendly. The area is beautiful and the cost of living is relatively low, so it will be difficult not to be happy in such a unique location.
- Singapore: The Asian economy has been through the roof as of late, and this city in particular has been thriving. With a huge percentage of the country using up-to-date technology, it is easy for new businesses to reach their target markets. Digital startups in particular will find themselves with a wealth of opportunity in this city.
- Buenos Aires: With one of the most well-educated workforces in South America, this trendy city makes a great place for a new business. There are plenty of funding initiatives for small businesses here as well, and the city is very diverse and exciting.