Silicon Valley, New York, Chicago and Los Angeles have dominated the realm of startups and franchises for lots of years, and regardless of efforts to nurture entrepreneurial talents in different hubs, only a few cities outside the valley, have managed to achieve an integration of expertise, network and funding to fuel vibrant startups.
Nevertheless, recently, this concept has become a mere misconception and businesspersons have found their way across the southern section of the San Francisco Bay. Here is a list of the best places (Outside the east coast and Silicon Valley) to start a business in 2018.
Port St. Lucie
Port St. Lucie, Florida’s 3rd largest city, helps startup businesses across different sectors to connect with each other, by providing resources like investor and entrepreneurial training sessions. This capital’s cost of living index is 3% below the nationwide average, and housing services are incredibly affordable compared to neighboring Cities such as Miami. Better yet, Financial Services and Healthcare services are Port St. Lucie’s biggest investment sectors. In case your startup idea aligns with either of the mentioned sectors, Port St. Lucie is the City from where you should launch your startup.
According to ADT Defenders, “The crime rate in the state of Connecticut is lower than the national average: by over 24% for violent crimes and by just over 4% for property crimes.” Besides creating a safe environment for startup firms, Connecticut features one of the most productive labor force in the United States; ranking fifth after Wyoming, Alaska, the District of Columbia and Delaware. Speaking of Delaware!
Breaking into the top 3 best places to start a business in 2018 is Delaware. This state’s market share for new startups is favorable, and its tax climate is better compared to every location mentioned in this post. Better still, the golden factor that makes Delaware a great location to launch a business is its highly productive labor force. This state has the 5th highest GDP in the United States.
Every economic data and statistic points to Nevada as another great place to start a business. This state features the highest startup activity in the U.S, and in 2016, its density of startups hit more than 110 startup businesses for every 1000 companies. Moreover, new entrepreneurs in Nevada enjoy the highest population of employees compared to any other state. Nevada is listed as one of our “hot markets” for franchise growth.
According to Kauffman Growth Entrepreneur index, Austin, Texas escalated it’s no of startups faster compared to every other city, Except Washington, in 2016. Experts attributed this astounding growth to Austin’s educated and productive workforce. If you’re an entrepreneur interested in growth sectors filled with smart, youthful energy, Austin, Texas is your go-to state.
Starting a business is not for the feint of heart. It’s terrifying, exhilarating, challenging, rewarding, rinse, lather, and repeat six times every day. That being said, there has never been a better time to start a business or own a franchise. There’s no version of this journey that won’t challenge you to your core, but you can mitigate the difficulty by relying on the power of an established brand and picking a market that is conducive to growth.