Starting a business is no easy endeavor, but when you have little to no background in finance, it can be a virtual disaster waiting to happen. Yes, the top American cities to start a business are important, but what do you do once you’ve chosen a city in an area you’d like to live and work? How do you focus on profitability when all you really know is your industry? Using HR Software will be a must for anyone hoping to start a business in the near future.
What Financial Advisors Recommend
Many financial advisors recommend that you take your current degree to the next level. While starting your business, simultaneously work towards an online finance degree so that you understand how to balance your budget, heavily on the plus side if you do it right. Knowing this, what cities would interest you? Don’t forget, you will be studying an online master of science in finance, so you can choose any city you’d like. Which will it be for you? Personally, I’d choose NYC every time. After all, having access to an expert new york business lawyer would give you the best chance of being successful.
CNBC Using Survey Monkey Polled Small Businesses Around the Nation
In a 2017 survey of 2,030 small business owners, CNBC. working with the Survey Monkey Platform, broke the poll down into three main categories:
1. Business Costs
2. Business Environment
3. Access to Resources
Each of these categories was further broken down as follows:
• Access to Resources – number of college graduates in the area and availability of financing
• Business Environment – startups in the area per capita and the average length of work week
• Business Costs – Cost of home and business space.
When you look at business costs and see that the cost of renting or buying a home is included in the survey, it makes sense when you realize that in order to run a business in any given area, you need to live close-by. When all the respondents’ answers were tallied, CNBC came up with a list of 15 cities which small business owners find to be the best cities to start a business.
Five of the Top 15 Best Cities to Start a Business
While you can read about the entire list here, for the sake of brevity, let’s look at just the top five. Cities small business owners would recommend to startups include:
1. Oklahoma City, OK – Cost of living 15.4 percent lower than the national average!
2. Salt Lake City, UT – Found to be a real hot spot for tech startups and the unemployment rate is lower than the national average. Only 3.1% of SLC residents are unemployed.
3. Charlotte, NC – Population just over 800,000 and expected to double within the next 13 years due to great living conditions (200+ days of sunshine), which is a major attraction.
4. Tulsa, OK – With an unemployment rate of 4.2%, there is much to recommend Tulsa to startups. Of greatest interest is low-cost of operations, which enables small businesses to pay higher wages.
5. Grand Rapids, MI – This is one city with an agency that helps small business startups get what they need to get up and running.
Need a boost while studying finance? Grand Rapids sounds like an excellent choice. No matter which of the top five you choose, each is highly recommended by 2,030 of the more than two million small business owners in the United States. The entire list is quite impressive, so check it out.