If you are thinking of starting a new business and have the luxury of choosing your startup location this list is for you. These are the first few cities in our series of top cities to start a small business in 2016.
Nashville is known to many as ‘The Home of Country Music’ but it is also one of the best places to consider for your next venture. The state of Tennessee does not have a general state income tax and Fitch Ratings stated that they also have the lowest debt ratio of any state in the US. Nashville itself is home to a metro population of 1.5 million people and nearly 1/3 of these residents hold some sort of secondary education degree. That comes at no surprise when you consider that Nashville is home to top Universities including Vanderbilt and Tennessee State University. That means that finding potential new employees for your business won’t be hard. Nashville is also home to some very well established businesses including Nissan North America, HCA Holdings, INC, Cracker Barrel Old Country Store Inc, GM, UPS and Amazon. It’s not all about work either. The Home of Country Music has more than 120 live music venues and a major sports presence that goes year-round.
If your small business is looking for a tech hotbed the Texas State capital may be your best bet. Austin has seen a massive influx of high-tech companies and small businesses prompting residents to dub the city ‘The Silicon Hills.’ The tech boom can be in part attributed to an easily accessible workforce of young and talented graduates from nearby universities. The University of Texas and St. Edward’s University lie within the city limits. Baylor and Texas State University are both a short drive from the city as well. Austin is also famously home to the South by South West Conference which saw more than 84,000 registered guests in 2015. The city is also a haven for creatives and the perfect place to network and grow your business. Austin has seen massive growth in the last decade with some estimating 110 new residents moving in each day. The metropolitan area is now home to more than 2 million residents. Although the cost of living is on the rise, the pros of starting your small business off in Austin may outweigh the rising costs.
Raleigh, North Carolina ranked No. 2 on Forbes Best Places for Business and Careers in 2013 & 2015 and has consistently been in the top ten locations for the last decade. The metropolitan area has 1.2 million residents. According to Forbes, 42% of the adult population holds a college degree. Population growth is also on the rise with more people moving into the metro area to take advantage of a below average cost of living and access to an economy which produced $61.3 billion in gross metro product in 2012. Starting a new business is easy as the city was ranked 3rd in 2014 for regulatory efficiency by the U.S. Chamber of Commerce Foundation. Your new business can reap the rewards of some awesome tax benefits as well as access to Research Triangle Park which is hailed as the largest research park in the United States.
Don’t see your city on the list? Leave us a comment and maybe we will review your city in the next edition.