For some, starting a business is a dream that seems impossible. Starting a business can be started at any age. Some of the wealthiest people on earth including Bill Gates started their business in their late teens. If you’re thinking of starting a business, an important question to consider is where the headquarters will be based. From there, other questions to consider are the taxes the business will have to pay, the cost of living, and the number of workers available to work for your business. The best places to meet these criteria are cities. While it will be difficult to find a “perfect” city that meets all these criteria, there are 3 notable cities ideal for starting a business.
The downtown life of New Orleans is filled with a rich history, Cajun-style food, and young entrepreneurs. The average age of an entrepreneur in New Orleans is 37.04 years old, meaning that at least 50% of entrepreneurs are millennials. New Orleans prides itself on inspiring young entrepreneurs to fulfill their dreams by funding incubator programs that help startups. Each week, nonprofits and universities gather to host an event showcasing new businesses. New Orleans is a promising city to launch a business, even after the tragedy of Katrina.
Philadelphia has made strides in improving its quality of life and most recently expanding its business opportunities. The average age of when an entrepreneur starts their business is 37.9 years old. For young entrepreneurs, a young age for when entrepreneurs start their business is promising for those seeking advice. As with New Orleans, there are programs designed to help an entrepreneur in any industry kickstart their business. Recently, there has been an influx of tech startups in Philadelphia. This influx has seen Philadelphia shift into a tech hub.
Providence, RI is definitely the smaller of the two cities on the list. While it doesn’t offer the rich history or the expansive business development New Orleans and Philadelphia offer, Providence offers a unique proposition. For starters, nearly half of the entrepreneurs in Providence are millennials. Additionally, Providence provides many tax cuts, incentives, and groups you can join to ask for assistance or learn entrepreneurs’ stories.