It’s no secret that starting a business at a young age can be challenging, but in the end, that initial difficulty is always worth it. Alongside the obvious hardships of starting your own business, in order to be a successful young entrepreneur, you must consider which city you should decide to call your base. After all, this can make all the difference! Here, we’re taking a closer look at the best cities for young entrepreneurs to thrive and turn their dream of starting a business into a reality.
A large part of the reason the Austin areas ranks first on the list of places for young entrepreneurs is its dense population of young people. According to the U.S. Census Bureau, 17.5% of Austin’s population falls between the ages of 25 and 34. To put that figure into perspective, that is the highest percentage of that particular age group for any of the cities mentioned below. Young people are moving here for an array of reasons, including for the lower cost of living, safety, great weather – and most importantly – as a result of rapidly emerging tech hubs. Not to mention the party scene!
- San Francisco
San Francisco is yet another popular city for young entrepreneurs, and for good reason. It offers young entrepreneurs the opportunity to live in a community surrounded by numerous successful individuals who turned their dream of becoming a profitable entrepreneur into a reality. The cities percentage of residents with a bachelor’s degree falls around 46%, placing it fourth in that particular character. In terms of generation population, however, San Francisco ranks 14th.
- Salt Lake City
In Salt Lake City, young entrepreneurs can take advantage of a high small business loan acceptance rate alongside a high percentage of young, like-minded individuals. With 16.3% of its population aged between 25 and 34, Salt Lake City comes close to the likes of Austin. Due to this, there are a lot of potential networking opportunities, some of which can be challenging for young professionals to discover elsewhere. Even though the cities general population isn’t classed as one of the top 100 largest cities in the countries, for those seeking a small-town feel, it’s perfect!
Next up is Denver. Despite what many believe, this city offers a high small business loan rate, with approximately $14,648,482 in SBA loans per 100,000 residents. What’s more, the young community in Denver also offers a fairly educated workforce, which is perfect for those seeking potential networking or partnership opportunities to kick-start their business. Denver is a top choice for more than just its unique networking opportunities, though. Washington Park, Glendale and Baker are among the most popular neighbourhoods in Denver for young professionals such as yourself!
The area surrounding the iconic Twin Cities offers a low unemployment rate, so low in fact, that it’s considered to be lower than average. For young entrepreneurs, this means that they can choose an area in a thriving economy, and get the chance to join one already made up of several potential customers with access to disposable income. What’s more, the community as a whole offers a relatively large population, eliminating the expense of large cities. Result!
Starting your own businesses is just as difficult as packing up your belongings in the first place, and so if you require excess baggage services or storage, get in touch with us, today.