May 7th 2019 at 10:25pm Published by firstdownadmin

Today, more than 15.3 million people in the U.S., or nearly 10 percent of the labor force, work for themselves. And there is always room in the market for new ideas, products, services and multi-million-dollar success stories — if one knows where to look.

If you’re looking to start your own small business, where you set up shop is vitally important.

Let’s take a look at some of the best U.S. cities (outside of Silicon Valley and the East Coast), to build your startup in 2020.

Austin, TX. 

The Texas capital recently was named the #1 place in America to start a business by CNBC. In large part due to the University of Texas at Austin and other universities’ influence, Austin is known for having an educated workforce.  Austin has become quite a hotspot. Employers and people interested in growth industries are drawn to the youthful, smart energy that flourishes there.

Boulder, CO.  

Boulder may be known for its eccentric, diverse population, but that reputation belies its true nature as an entrepreneurial powerhouse.

Miami, FL. 

The Kauffman Index recently named Miami the second most entrepreneurial city in the U.S., with the country’s highest startup density, 247.6 startups per 100,000 people.

Los Angeles, CA. 

The city is renowned as a center for tech entrepreneurship. In addition to being the third largest startup hub in the U.S. (behind Silicon Valley and New York), the city of flowers and sunshine boasts one of the largest concentrations of engineering graduates in the country.

San Francisco, CA. 

The concentration of startups, especially tech startups in the city by the bay is dizzying. You can find Twitter next to Square and Uber, and Dropbox, Pinterest, and Zynga within blocks of each other.

Provo, UT. 

There are a lot of big companies based in Provo, too, which helps attract and retain people with desirable skills and experience. Novell has its corporate headquarters in the city, as do Qualtrics, BlueHost, and Jive Communications. Brigham Young University has renowned entrepreneurship programs and produces many graduates who start businesses of their own.

Las Vegas, NV. 

After the economy crashed in 2008, Las Vegas was pushed to reinvent itself in order to survive. With businesses clearing out of California because of its oppressive taxation, Las Vegas welcomed many of those entrepreneurs with open arms and appealing tax relief.

Denver, CO. 

Denver continues to explode with startups and small business ventures, an increasing number of millennials are heading to the beautiful city.  Denver is also one of the most educated cities in the US. 53 percent of the population holds a bachelor’s degree, and Colorado is ranked first as a relocation city for skilled workers ages 25 to 44.

Location is the place where a firm decides to site its operations. Location decisions can have a big impact on costs and revenues. 

10 Factors to Consider When Choosing a Business Location

  • Availability of raw materials. 
  • Nearness to market. 
  • Availability of basic infrastructure.
  • Economic policy. 
  • Demographics.
  • Psychographics.
  • Industrial Clusters / areas. 
  • Export processing zones.