Have you ever noticed how some cities seem younger than others? Some seem to offer more entertainment and opportunities than others, and therefore appeal to the Millennial generation. And when it comes to entrepreneurs, Millennials are ahead of the pack: more than 25% of them are self-employed.
Thumbtack Journal recently released its 10 Best Cities for Millennial Entrepreneurs list, which ranks cities and states based on their friendliness to small businesses, as well as identifies the cities that are welcoming Millennial entrepreneurs with open arms.
Where to Start Your Next Business
If you’re a Millennial (born between 1980 and 1999), consider one of these cities when you launch your business.
- Birmingham, Alabama
- Boise, Ohio
- Boulder, Colorado
- Nashville, Tennessee
- Manchester, New Hampshire
- Charleston, South Carolina
- Knoxville, Tennessee
- Austin, Texas
- Durham, North Carolina
- Richmond, Virginia
What’s interesting is that these are all mid-sized cities. No metropolises for those Millennials. And I wonder what’s going on in Tennessee, with two cities on the list!
Prioritizing What You Look for in a City
No matter what generation you fit into, you want to find a city that is small business-friendly with a thriving economy. If you’re in the market for a new city for your business, assess what you want in a city and prioritize your list. If you plan to start a retail business, you might want a city that is walkable with “Main Street”-style shopping areas. If you plan to start a tech business, you might prefer to launch in a city that has a large tech community.
Once you’ve prioritized, do some research to find cities that fit the bill for your preferences. Then, visit your top choices to get a sense of what they’re like. Connect with local business owners in each city and ask them if they like running a business there.
It’s important that you feel like the city you select has plenty of growth opportunity. It helps if it’s an affordable place to live, and if you can get cheap labor as well!
Once you decide where you want to launch your business, let CorpNet help you with your business structure. Get a free business consultation to explore your options.