Getting your startup off the ground not only requires capital but a favorable location to settle in as well. Though San Francisco Bay Area and New York are still the most popular locations for businesses, these places are not as affordable for small startup companies. Fortunately, there are up and coming US cities that offer favorable support systems for enterprising individuals who would like to launch small or medium startup firms.
1. Austin, Texas
An auspicious location to get your business off the ground is Austin. This city boasts zero income tax, for instance. Housing and office rental costs are very affordable as well. For startup enterprises that aim to invest in real estate, the favourable property tax rates in the city are certainly a fortunate feature as well. Austin has a highly skilled workforce so finding talented people for your startup company should not be a problem. What’s best, this city has a welcoming sunny weather which those from cold cities certainly find a plus.
2. Boulder, Colorado
The city of Boulder, quite unlike Austin, require its constituents to pay income tax at 4.63%. Though this is the case, Boulder has a lot to offer startup companies. Rental fees for office spaces per square feet are some of the most affordable across the entire United States. Average housing costs, though double than Austin’s $450,000, is still way cheaper than housing costs in the San Francisco Bay Area which is at $800,000. Boulder has one of the most affordable property taxes across the country as well and so startup businesses looking to invest in real estate may find this city favorable for this endeavor.
3. Seattle, Washington
Seattle has one of the most talented and skilled workforces thanks to its manifold top notch educational institutions. Aside from this, the city boasts zero income tax just like Austin. Housing costs are very affordable too and are in fact more than half of those in the San Francisco Bay Area. Of course, you will likely be renting out an office space when you set up your business startup in Seattle and you will surely find the affordable office rental rates in the city very fortunate.
4. Boca Raton, Florida
Boca Raton has long earned a reputation for being a retirement place for seniors. But this is not the only thing that this dynamic city has to offer. With tons of information technology outfits that made this city their home, Boca Raton started to get dubbed as the Silicon Valley of the East Coast. With a highly skilled workforce, along with very competitive housing and office space costs, launching your long dreamed of startup concept in Boca Raton may just be the most business forward decision you can make. And did we mention that Boca Raton boasts white sand beaches and a warm sunny weather, too?
5. Boston, Massachusetts
Boston is in close proximity with top notch educational institutions like Harvard and MIT. This alone means that there will not be a deficit in educated, talented, and highly skilled workforce. Many of these educated individuals nurture their very own information technology startup companies as well. Because of the bustling business landscape, the inflow of venture capital is fairly steady, further fueling the growth of startups. Boston has favorable housing cost, too, which is more than half of that in San Francisco.
Startups are enjoying fair support especially after the economic downturn in the late 2000s. With this business model projected to further fuel the enterprise landscape of the United States, today is the most auspicious time to get your business concept off the ground. And if you’re looking for a city that can handle the housing aspect of your growing staff, these five cities are a great place to start.