One of the best places for an entrepreneur to start a business is a city that has a good prosperous economy. It also helps if the city is full of other creative and innovate people. Entrepreneurs should look for communities that can provide them with great economic opportunities, but finding the right spot to start a business requires lots of research and excellent instincts. Below are ten cities that offer thriving opportunities for entrepreneurs:
1. Seattle, Washington - In 2009, Seattle was rated number two as one of the top ten tech cities according to Entrepreneur Magazine. It’s one of the few cities where the high tech industry is still thriving and can be a good place for someone who wants to launch a high tech startup. The cities that used to compose Silicon Valley in California was once the go-to place for technical entrepreneurs but after the fall of California’s economy that title has shifted north to places like Seattle.
2. Boise, Idaho – This city consistently remains one of the best cities to start a business. In 2005 it was rated number one and it still remains high as one of the top places for entrepreneurs to thrive. Boise is a great city for business is because the city consistently maintains one of the lowest employment rates in the U.S. While the rate of unemployment remains low, the economic growth rate increases by at least 2% each year.
3. Washington DC – DC is one of the only places that has been sheltered from this severe recession. Washington DC has been sheltered because of the political jobs that have been created in a world wrought with political tension. Entrepreneurial opportunities for individuals interested in catering to politicians or starting their own think-tank isn’t the only thing DC provides. Many sectors of business in DC are currently doing well, so entrepreneurs of all backgrounds have a shot.
4. Dallas, Texas - Dallas is one of the fastest growing cities in the United States. The city of Dallas estimates that it has about a 170,000 new residents flocking to the city each year and new residents need new services and products. As the city of Dallas expands - so do the business opportunities.
5. Austin, Texas - Austin is another city that continues to experience population growth. Austin is also a city brimming with creativity which is exactly what new entrepreneurs need if they want to establish themselves as innovators. Austin is a good spot to cultivate entrepreneurial creativity.
6. Houston, Texas - Professionals who can’t find work in the northeastern and Midwestern corners of the U.S. often find solace in Houston. The same employment that takes months to find in places like Chicago are found in a matter of weeks in places like Houston. Entrepreneurs can take advantage of the strong job market in Houston and help build their businesses.
7. Las Vegas, Nevada - A prominent relocation site listed Vegas as one of the best cities for a fresh start. Las Vegas is a great city for entrepreneurs who are particularly interested in starting a non-profit. Community organizations in Las Vegas are not as plentiful as they should be and this presents a window of opportunity for entrepreneurs. Service oriented businesses that focus on helping people who cannot help themselves are desperately needed in Las Vegas.
8. Newark, Delaware - Newark has 2.9 businesses per 1000 people. The low number of business startups signifies a decrease in competition among businesses that are looking to establish their roots in a nice small town. This puts Newark on the map as a hot spot for entrepreneurship.
9. Lexington, Kentucky - In a faltering economy, entrepreneurs should start looking at small to midtown cities because office space is cheaper and entrepreneurs have a better chance to secure a location near their prime demographic of business prospects. The cost of living index in Lexington makes it a good prospect for those starting a business with big dreams and a little money.
10. Minneapolis, Minnesota - One of the ways that new entrepreneurs thrive is by conducting business with other businesses. The twin cities has a high concentration of fortune 1000 companies which provides the entrepreneur room to network with other established businesses while they pull their own business together. The top companies in Minneapolis include Northwest Airlines, Target, Ameriprise Financial, UnitedHealth Group, Pepsi and Best Buy.