At the end of last year, NerdWallet did some thorough research in order to identify the best places for entrepreneurs to live in the United States. In determining these cities, they took several factors into consideration, including cost of living, networking opportunities, the state of the local economy and the ability to secure investment. Let’s take a look at which cities stacked up on top.
- Omaha, Nebraska
Would you believe that Omaha isn’t the only city in Nebraska to make it on this list? There are a number of reasons for Omaha’s inclusion on this list, chief among them the incredible low cost of living there.
- Plano, Texas
The great state of Texas also has two cities that made NerdWallet’s list, Plano being the first. In discussing the reasons for its inclusion, NerdWallet points out that there is a tremendous amount of support available to entrepreneurs in this city.
- Oklahoma City, Oklahoma
Are you a boomer or a sooner? With Oklahoma’s economy in somewhat of a transition, the city has become especially friendly to technology startups, with a number of resources available to them. Also, the cost of living in this city happens to be quite low.
- Austin, Texas
Before you started reading this list, you might have expected to find Austin on it. Well, here it is. Austin has become well known around the world for being a place for startups to get going, and when you combine that with a lower than average cost of living, you have an ideal situation.
- Seattle, Washington
While the Bay Area has been getting a lot of attention lately, San Francisco’s neighbor to the north might be more ideal for young entrepreneurs. For one, the city has one of the most highly educated populations in the country, and there are a number of young professionals living there who are eager to get things done.
- Denver, Colorado
Denver is becoming an incredibly popular city in the United States, with young people moving there by the droves. Many are attracted to the fertile environment that exists for small businesses, as well as the support that’s offered by local institutions for startups.
- Minneapolis, Minnesota
You’ll have to be prepared to brave the cold, but Minneapolis is a great place for entrepreneurs, and especially for female entrepreneurs. There is a high number of small businesses in the area, a low cost of living and tremendous support available.
- Lincoln, Nebraska
If you’re looking to secure investment for your startup, then this may be the place for you, as there is a lot of investing that gets done in this town. Beyond that, you’ll find that, like Omaha, the cost of living is exceptionally low.
- Madison, Wisconsin
There’s also a lot of investing that goes on in this highly educated city in Wisconsin. When you couple that with a lower than average cost of living and access to a number of small business resources, you can see why this city occupies the penultimate spot.
- Arlington, Virginia
Washington and the area around it has become quite hot over the past several years. Arlington in particular has become a place that many people relocate to in order to start their businesses. Simply, the city excels in every metric that NerdWallet tracked.
Where Will You Start Your Business?
Ultimately, you’ve got to be happy with the place that you live – especially if you’re going to be devoting so much time to getting a business off of the ground. So, make sure you’re thinking about that – as well as the business realities of the area in which you’re living – before getting started.