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Cities That are Becoming Cradles of Entrepreneurship

A short list of cities emerging as new entrepreneurial hubs in the US

A young businessman sitting in front of the laptop.

Becoming an entrepreneur is usually a solo effort to begin with. But as you embark
on your road to launching a business, you'll find yourself attracting others of like mind.

If you have even a tiny seed of entrepreneurship within you, then you must be thinking about how to grow it into something worthwhile. True enough, relying on others for a job is a strange mix of hope and dread, but one that is widely accepted as it resolves people of too much thinking and responsibility.

When it comes to entrepreneurship, you're mostly on your own. What pulls people to embark on the road of launching a business, then? Which elements make the cities that are becoming cradles of entrepreneurship? What can other local governments do to support budding entrepreneurs? If you wish to exploit your leadership skills, we'll help by answering these questions and hopefully fuel the current startup boom together.

San Francisco, CA

The Bay area has been offering excellent access to venture capital for years now, and entrepreneurs have learned how to tap into it. San Francisco is one of the several West Coast cities ideal for startups and small businesses, mainly due to being a part of Silicon Valley. As you conduct your search for the ideal location to launch your business, you will notice that cities that are becoming cradles of entrepreneurship have a few things in common. They involve networking options, access to funding, and an educated workforce. San Francisco offers it all, but not everything is rosy.

The buildings of Oracle in Silicon Valley, San Francisco
The influence of Silicon Valley is intense, but it is also the main moving force
behind the city's white-hot entrepreneurial energy.

One thing that might worry an emerging entrepreneur is how expensive San Francisco is. The costs of living and rent leave a lot to be desired. The San Francisco metro area is an absolute leader in the number of early-stage funding deals and wage growth. When you draw the line, you earn big, you spend big, but as long as you dream big and work smart, you have nothing to worry about your startup in San Francisco.

Miami, FL

Being the city with the highest startup density, Miami is steadily attracting entrepreneurs interested in leaving their offices and moving to a remote working model. Why is this important? Outdoor activities have become more popular than ever. Local entrepreneurs are riding the wave of a tax-friendly climate with a steady influx of skilled residents. Running a small business in Miami is perfect for those who rely on the city's diverse population, its love of originality and innovative projects, and especially the city's connections to Latin America.

Miami, with its skyscrapers, is one of the cities that are becoming cradles of entrepreneurship.
The last year has imposed changes on every aspect of doing business,
but Miami has adapted and thrived.

Still, many fresh startup owners in FL do not live near a metro area such as Miami. To get closer to the sources of financing, workforce, and customers, they decide on an entire business relocation. As if leading a business is not challenging enough with home-ground advantage. The trick here is learning how to handle such difficulties stress-free and not overstretching your budget. It becomes vital should you wish to relocate your employees, too. The good thing about Miami is that it is affordable enough for workers as much as it is for business owners. Small wonder that its rate of entrepreneurship is skyrocketing.

Austin, TX

When ranking cities that are becoming cradles of entrepreneurship, most methodologies include factors such as age range and level of education, employment rate, and income/rent ratio. For a few years in a row, Austin, TX, comes out as one of the most popular startup hubs in the US. And it is no surprise as there are no personal income tax and corporate tax in Texas. But that is not all that makes Austin famous for entrepreneurs. The city is traditionally supportive of startups, it is affordable, and it is home to diverse, innovative, creative, and smart young talents.

Panorama of downtown Austin, Texas.
The first task in your research is to get familiar with cities that are becoming
new cradles of entrepreneurship – Austin is one of them.

Even when starting a business in Austin, the safest course of action is always exploring your options before relocation. However, packing and moving your office equipment to a more favorable location in Austin metro area has never been easier. There are simple steps to ease the process, one of which is teaming up with professionals who have experience with the tasks. It may also happen that starting your business on the outskirts of a local hub such as the capital of Texas may be the most cost-effective option. Research is everything.

Being an entrepreneur in 2021

Fresh business owners do not always show up with years of experience on the scene. Those who decided to start a business from scratch often do it out of necessity. Luckily, it is not the only reason. Starting a business out of choice, even in a time of many uncertainties such as today, is a decision people make after careful deliberation. Planning is vital for two main reasons; listing all your resources, aka defining all the things that go in your favor, and listing the disadvantages of your location and the market.

Once you determine where you stand by comparing all the pros and cons, you can move forward in establishing your startup. While you might think that 2021 will be challenging for fresh business owners, note that every year is challenging for beginners. It may be comforting to know that the survival rate of startups in their first year has grown over time. Use your resources smartly, be ready to adapt to improve your startup's chance of success, and above all, do your homework.

What other centers can learn from cities that are becoming cradles of entrepreneurship

Keeping the young talents has become imperative for small, medium, and big metro areas alike. This is impossible without access to capital, though, and this is a part where local governments come into focus. Attracting venture capital is their first step, often followed by incentives for investors and residents. Investment opportunities and affordable living costs go hand in hand because startups and businesses, in general, do not exist in a vacuum. In their essence is always the same thing: an entrepreneur.

Photos used: by Pixabay

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