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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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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

Is this normal (you wonder about your business)?

(ENTREPRENEURIALISM) It can be lonely not being able to openly ask potentially embarrassing questions about your business – there’s a way to do it anonymously…

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Entrepreneurialism is wildly rewarding – you are fully in control of the direction of your company, and you’re solving the world’s problems. But it’s also isolating when you’re not sure if what you’re experiencing is normal.

Sure, there’s Google, news networks (like ours), and professional connections to help you navigate, but sometimes you just want to know if something simple you’re seeing is normal.

Is Instagram Stories really where it’s at? Probably not if you’re a consultant.

Is it normal for an employee to attempt to re-negotiate their salary on their first day? Nope, but how do you keep the desirable employee without being bullied into new terms?

Do all entrepreneurs spend their first year in business as exhausted as a new parent? Sometimes.

You have questions, and together, we can share our experiences.

We have a brand new Facebook Group that is already wildly engaging, active, and you’d be amazed at how selflessly helpful people are – and we invite you to be one of them.

Want to anonymously ask a question about something you’re unsure is normal or not?

Click here to submit your question, and we’ll select as many as possible to discuss in the Facebook Group!

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Business Entrepreneur

Amazon on a collision course with politicians as they strengthen their monopoly

(BUSINESS) E-commerce has come a long way in the last decade, specifically led by Amazon, but are their controlling ways putting them on a collision course with regulators?

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In March, Amazon stopped replenishing weekly purchase orders for tens of thousands of vendors in a move that has stirred up some trouble. The tech giant has once flexed its power over first-party sellers over their platform. And it’s not the first time.

Amazon originally sent out to vendors as an automated message citing the hold up in orders as a technical glitch. The following day, vendors were told the change was permanent. The affected vendors were categorized as making $10 million or less in sales volume per year and not having managers at Amazon. Vendors selling specialized goods that were difficult to ship were also a factor.

The effects can have remarkable effects on the market as Amazon’s algorithms decide who is able to sell what to whom via their near-ubiquitous platform. According to John Ghiorso, the CEO of Orca Pacific, an Amazon agency for consultation and manufacturers representatives, the decision is driven by financial data such as total revenue, profitability, and catalog size.

In a response from an Amazon spokesperson, the change was made in order to improve value, convenience, and selection for customers. The mass termination of purchase orders and the delayed response from Amazon herald the transition to the One Vendor system, putting vendors in an exclusive relationship with Amazon. This system will merge the current Seller Central and Vendor Central.

Amazon’s message is loud and clear: they will do what’s in their best interest to mitigate the market for their convenience. One may be reminded of the anti-trust lawsuit against Microsoft in 2001.

The lack of warning didn’t do them any favors either.

While smaller businesses need to change for Amazon’s program, first-party business will revolve around larger brands like Nike with whom Amazon is maintaining a relationship.

Despite the streamlined platform Amazon is going for, the company wields power over vendors and customers alike. Capitalism is one thing, but monopolies are a whole other ball game, and politicians are finally paying attention.

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Business Entrepreneur

Culture Codes is the guide you need for company culture questions

(BUSINESS ENTREPRENEUR) One of the biggest sellers of a company to a prospective employee or customer is their culture. Culture Codes has compiled some the biggest companies cultures in convenient decks for you to study and align with.

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Organizational culture is a hot button of conversation. While a variety of definitions exist, one way of defining Culture is the way businesses exist – a summary of values, rituals, and organizational mythology that helps employees make sense of the organization they work in.

Organizational cultures are often reflected in Mission, Vision, and Value statements of organizations.

What many entrepreneurs or new organization struggle with as well, is how to create a culture from the ground up. What kinds of statements and values do they advocate? What are areas of focus? Who are our competitors and what can we do to create a service, product, or quality advantage?

Building a strong culture can be challenging, but a good place to start is looking at the best cultures around.

A new resource by Tettra, Culture Codes, has everything you could want to know on different companies their cultures available for you to study up.

Over 40 companies employing over 280,000 employees have created culture decks and collected core values and mission statements. Companies like Spotify, Netflix, LinkedIn, and NASA have all contributed information.

This information is great for young companies or entrepreneurs to start building a schema about what kind of culture they want to create.

Or existing established companies can look towards peers and competitors and help decide what statements they want to engage culture change on.

For job seekers, Tettra can help potential employees gauge if they are a fit for an organization, or discover that maybe an organization they dream about working for has a culture they may not jive with. And perhaps most valuably, transparently showing off your culture and allowing it to be compared means that organizations can better compete in the talent market.

Recruiters should be obsessed with talking about culture – because it keeps people in the door.

The reasons why people leave employment: work/ life balance, poor treatment, lack of training, or relationship issues with a supervisor or boss; in many ways are a by-product of organizational culture. If you want to compete in the talent market, make culture a selling point and show it off in everything you do.

Even consumer’s benefit from learning about an organization’s culture – values that indicate a commitment to excellence in ethics make consumers feel good about supporting an organization.

It pays to have a good culture. I encourage you to head over to tetra.co/culture-codes and see how companies like Etsy are keeping it real, every day.

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