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Where are the best U.S. cities to plant your startup?

(ENTREPRENEUR NEWS) The results of this survey are surprising, and may have you packing up your cold weather gear to move inland and scout for office space.

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salt lake city utah

Grow where your dollar counts

It’s no secret that San Francisco, Los Angeles, and New York are major hubs for new startups, but they can be incredibly expensive cities in which to live and grow a business. From the cost of a cappuccino to the need for a wired office phone (based on relative cell phone coverage), every dollar counts for startups. So why not pick a city that makes it easy to hit the ground running?

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Nerd Wallet surveyed 381 Metro Areas in the U.S. to figure out which ones were the most nurturing to foundling companies. Their analysis included the number of people between the ages 25 and 34, the median income of the area, unemployment rate, and cost of housing. They also looked the ratio of businesses to people and the amount of new small business loans each area administered. The results are surprising, and may have you packing up your cold weather gear to move inland and scout for office space.

And the results are…

10. Missoula, Montana
With the most businesses per resident, Missoula starts our top ten. It has few young professionals even though it is home to a small university. It has a low median home price, and incomes that won’t blow your socks off. It also touts the lowest population of all the top ten metro areas listed.

9. Fargo – North Dakota – Moorhead, Minnesota
Dust off your North Dakota accent, because Fargo is the place to be. There aren’t a lot of startups here, but the networking is top notch. Food startups don’t be shy, Fargo is home to some new craft beer bars, and cafes.

8. San Francisco – Oakland – Hayward, California
Don’t bash San Francisco’s home prices just yet; the Bay Area still has a lot of perks. Not only does it have the highest median income, but the number of primo colleges in the area produce a sharp workforce.

7. Seattle – Tacoma – Bellevue, Washington
While this seems like the place to be for a lot of new startups today, Seattle may not be your best bet. While it still ranks number 7 in the entire country, Seattle has the highest unemployment rate of the ten contenders, and doesn’t give out a lot of small business loans. Still, the median home price is a whopping 350k which, for a startup city by the ocean, is not that bad.

6. Fort Collins, Colorado
With a lower unemployment rate and cheaper real estate than Denver, Fort Collins comes up short by offering a lower percentage of young labor. Still, Colorado is hard to beat on the whole, coming up with three separate areas that are prime for brand new businesses.

5. Denver – Aurora – Lakewood, Colorado
A short commute from its higher scoring neighbor, Denver still has a lot to offer a new small business. It tends to be less expensive than Boulder and has more young residents.

4. Austin – Round Rock, Texas
The hometown of The American Genius and the Texas Longhorns, this state capital does not disappoint. Not only does it offer a smorgasbord of recent grads hungry for jobs, but it has also allotted a huge percentage of small business loans as well.

3. Salt Lake City, Utah
Salt Lake City ranks highly in a lot of categories. Not only does it have a good amount of young educated people, they have lots of businesses per capita, and strong cell coverage. This isn’t just for tech startups though – craft breweries have been popping up ever since Utah loosened its strict alcohol standards a few years ago.

2. Minneapolis – St. Paul – Bloomington, Minnesota
The twin cities are home to a ton of huge companies. From Target to Best Buy, small businesses here won’t be lacking for local mentors. The city is full of millennials and its real estate is cheap. Don’t forget to splurge for heat and air conditioning in your office space; the temperature swings can be brutal.

1. Boulder, Colorado
Of the areas polled Boulder, Colorado topped the list. Not only is it surrounded with gorgeous scenery, but Boulder has the highest number of college-educated residents, AND the most amount of businesses per capita.

Where are you planting the seed?

If you’re starting a new business every penny counts, and success might mean moving to one of these cities to get it started. That doesn’t mean you can’t succeed anywhere, though. With the right idea, work ethic, and talent, there’s no stopping you! Some places might just make success a little bit easier. And who doesn’t want starting a startup to be easier?

C. L. Brenton is a staff writer at The American Genius. She loves writing about all things, she’s even won some contests doing it! For everything C. L. check out her website

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2 Comments

2 Comments

  1. Johnathan

    January 6, 2017 at 9:54 pm

    Though I think these ten cities are great places to begin and grow a startup, I strongly feel that Charlotte, North Carolina deserves to be somewhere on this list. It is quickly developing and is one of the largest financial centers in the US.

    • Lani Rosales

      January 7, 2017 at 11:06 am

      We’ve heard a lot of great things about Charlotte – it’s on other lists, so maybe they’ll include it next year!? #GoodLuck 🙂

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Business Entrepreneur

Restaurants: Going digital is simple with these tools

(BUSINESS ENTREPRENEUR) In 2020, restaurants going digital is critical. Luckily, it’s also easy, safe, and may even save you money.

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Restaurants prepares delivery or to-go food for safety

So, you own or manage a restaurant and you have yet to “digitize” your menu for COVID-era safe ordering? No problem! Transitioning your menu and service to the virtual realm has never been easier. There are a ton of options for restaurants to choose from to keep your customers feeling at-ease, your front-of-house staff happy, and the whole service experience streamlined for all parties involved.

A free app with over 500 restaurant partners and 5k+ active users, AAHI is a user-friendly platform that uses QR codes to share menus and NFC for contactless payments. AAHI boasts a 25% order increase for participating restaurants and who can say no to that, especially during these tough times. Additionally, you’ll be cutting down on operational costs by around 30% (better tech equals less need for servers!), and your laid-off staff will be able to collect unemployment if they need to.

Another free (up to 200 views a month) app with an emphasis on curbside pick-up is Orderlina. Customers scan a QR code, which takes them to the same menu they would see if they were going to eat in, making it an integrated experience. A bonus is that the app links your menu to your social channels. I always say, free marketing is never a bad thing! Plus, you’ll be more likely to gain followers and receive micro-content from satisfied customers. Win-win!

Especially with winter right around the corner and outdoor seating becoming an increasingly limited option (especially depending on where you live), everyone in the industry is eventually going to have to make the shift to digital – the question is when. Physical menus have become a thing of the past. Not only are they potential vessels for spreading COVID-19, but if you are using disposable paper ones, you’re undoubtedly creating unneeded waste. Same goes for the exchange of cash, or card payments that require contact. Good riddance!

The common goal across the entire industry right now is to stay open and bring in capital in whatever capacity possible, while also maintaining a healthy staff and a pleasurable, safe experience for patrons. That’s going to require some adjustment and creativity compared to service pre-COVID. By converting to digital, you are putting your best foot forward into the uncertain future for the restaurant industry.

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Business Entrepreneur

Scientifically check your risk for burnout with this free quiz

(BUSINESS ENTREPRENEUR) This new tool lets you take a free self-assessed, science-based burnout test to give you an idea of how much self-care you need.

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Woman with face on table suffering burnout in front of computer.

Concerns of keeping self-care and mental health in a positive spot – specifically in relation to burnout – have been a hot topic of discussion. While COVID-19 has exacerbated these concerns and stress levels, the issue of burnout has been around for quite some time.

Work burnout is often discussed within terms of work-life balance. Simple ways to avoid that crash are enforcing a hard stop on reading or responding to emails at a certain time of evening, or to continuously clean your workspace. Easier said than done, but it is critical.

But sometimes you have to look at the nitty gritty. Sometimes you have to ask difficult questions about your job and your personality in order to understand how burnout is impacting you. This can now be done with Global IT Burnout Index, a free, science-based assessment to tackle your stressors before it’s too late.

This is geared towards people working in tech (as the website reads, “burnout in tech is high and real”), but is useful for any industry.

To begin, you simply start the quiz and answer a few questions about yourself and your job (e.g. “I find it difficult to relax after a day of work” and then you answer based on how strongly you agree or disagree).

There are 10 total questions, and no personal information is asked (no name or email). It is open data, meaning it will help people on the other side better understand burnout; but, it’s totally anonymous.

The quiz takes no longer than 2 minutes. At the end, it will give you a number out of 6 measuring your burnout rate. The higher the number, the more likely you are to experience burnout.

Burnout has the ability to manifest physically and mentally, and can take a toll on your body and mind. Knowing if you’re experiencing high amounts of activity that can lead to burnout can help you know if you need to take precautions to change things in your life or job.

For those of us working from home, the situation is a Catch-22. You aren’t currently forced into a stressful commute. But it’s harder to pull yourself away when 5pm (or whatever your end time is) rolls around.

For people in the office or on site, it’s the same thing. You get to socialize (safely, obvi) with your coworkers, but there’s those on-site pressures.

No situation is perfect, but understanding if you’re in a situation where you could use a change or some help is incredibly important – especially these days.

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Business Entrepreneur

Is COVID proving that efficiency is overrated?

(BUSINESS ENTREPRENEUR) Forget about maximizing profits. Don’t decrease friction – increase it. Oh, and efficiency? Overrated. Wait… what?

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Cut off man working on multiple devices, but lacking efficiency.

When COVID-19 took off in the U.S., shortages of toilet paper, cleaning supplies, and blow-up pools had many of us thinking the American manufacturing supply chain must be inefficient. How was it even possible that we didn’t – and still don’t – have enough PPE for healthcare workers?

But what if the problem is that the supply chain is too efficient? That’s what Barry Schwartzis, a professor of psychology at UC-Berkeley and author of “The Paradox of Choice,” argues. Streamlined supply chains, just-in-time deliveries, and little slack in the workforce are all part of the gospel of efficiency. But maybe all that efficiency isn’t really working out for us.

Storing huge supplies of masks in warehouses is, arguably, an inefficient use of money and space. But we sure could have used a stockpile when the pandemic hit.

When businesses run lean, there’s little room to hedge against potential disasters. Schwartzis suggests we focus less on efficiency and more on being prepared for all potential scenarios the uncertain could bring.

It’s all about “satisficing.” (Anyone else now have Elvis in your head singing, “All this aggravation ain’t satisfactionin’ me”? No? Carry on.)

Satisficing = satisfaction + sufficing. It’s aiming for the adequate, not the optimal. Schwartzis calls it insurance against “financial meltdowns, global pandemics, nasty bosses, boring teachers and crappy roommates.” Sign. Us. Up.

He goes farther and takes that lesson to our personal lives. Don’t try to blow the return on your IRA out of the water. Set a goal that works for good and bad financial times. Don’t search for the best of all possible jobs. Find a job you’ll like doing even if you have the manager from hell. In short, look for the “good enough.”

Sound familiar to those of you who are parents? Amid all the talk of the Tiger Mom and the Helicopter Parent, there’s also been discussion of the Good-Enough Parent. You might want the coffee mug that says “Best Mom Ever,” but you don’t actually have to be the Best Mom Ever. Ditching “best” for “good enough” is like a magic elixir for de-stressing yourself and your kids.

Still, the idea that we can increase efficiency in our personal lives is so seductive. We all want to spend less time doing the things we don’t enjoy so we can spend more time on things that bring happiness and, yes, more money. You’ve read the books, listened to the podcasts, seen the lists: Structure your schedule. Time your tasks. Organize all the things.

Being able to always find your keys certainly could reduce the amount of cursing in your home. We can’t just toss out the Holy Grail of efficiency.

So Schwartzis has another word for you: Friction. Slow down. Don’t move too fast.

“Building friction into our lives, as individuals and as a society, is building resilience into the system,” Schwartzis says. It’s like tapping the brakes.

For business, friction could come from companies seeing themselves as caretakers of their communities rather than just profit centers. Could that kind of corporate responsibility lead to fewer jobs eliminated in the name of efficiency?

For homeowners, friction could be in the form of kids, pets, neighbors or the community – making you see the property as more than just a big investment. Could that prevent skyrocketing housing prices by reducing speculation based purely on profit?

Sure, maybe that’s a stretch, but it’s an interesting take on issues we’re thinking more about amid the disruption of 2020’s pandemic.

“To be better prepared next time,” Schwartzis says, “We need to learn to live less ‘efficiently’ in the here and now.”

That could be one of the more important lessons we’re learning now.

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