If you’re thinking about moving and starting a business, do you know which city would be best? It would be best if you were near your target audience, in a city with a good economy and somewhere that will be welcoming to new businesses.
These factors can make it hard to choose the correct city for your business. With so many cities in the U.S., it can seem impossible to find the perfect one for you and your business.
Don’t worry. We’ve done all the hard work for you and compiled our list of the eight best cities to move to and start a business in the U.S. These are great places for entrepreneurs who are looking for an exciting environment, lots of opportunities, and low cost of living.
1. San Francisco, California
San Francisco is an exciting environment, with lots of opportunities and a low cost of living. It’s got a booming economy, with lots of companies and residents.
It also has a thriving tech industry, making it popular among entrepreneurs. If you are looking to get deep into the startup scene, San Francisco is your best bet.
San Francisco is nearly 20 percent higher than other major cities in terms of cost-of-living. That being said, San Francisco still has a lower cost of living than New York City or Washington D.C., so if you want to be near Silicon Valley (and all that comes with it), then this might be your best option.
2. Austin, Texas
Austin, TX is an exciting location for entrepreneurs. Austin has the lowest cost of living of all the cities on our list, which means you’ll save more money while you’re building your business.
Austin also has a thriving economy and lots of opportunities for entrepreneurs to grow their businesses. The city even hosts its own “Innovation Week” every year to learn more about starting a business and meeting other entrepreneurs.
Austin is also a great choice because it has the second-largest concentration of Fortune 500 companies outside of Silicon Valley. With its lower cost of living and easy access to venture capital, this city is perfect for entrepreneurs looking to start their next business or expand their current company with new ventures.
3. Houston, Texas
Houston, TX has a lot of Fortune 500 companies, offering entrepreneurs many opportunities. Also, many companies in Houston are owned by minorities and women, making it very hospitable to entrepreneurs of all kinds.
Startup costs are not prohibitive and the number of people in Houston who are starting new companies is increasing each year, all great reasons to consider starting your next company in Bayou City.
4. Minneapolis, Minnesota
Minneapolis, Minnesota is a great place to set up your business. It’s a progressive city that has a lot of opportunities for entrepreneurs. Plus, the cost of living is lower than other cities on this list.
Minnesota is home to Target, Best Buy, and 3M, all top employers in the area. The education system in Minneapolis is also well-regarded, and the city has a low crime rate.
5. San Jose, California
The first city on our list is San Jose, California. It’s in the heart of Silicon Valley and is home to many of the world’s largest technology companies. The cost of living index in San Jose is only 91, which means it has a meager price of living. There are many perks for entrepreneurs in this city, like many local networking opportunities and an active business community.
6. Columbus, Ohio
Columbus, Ohio is a top-tier city for entrepreneurs. For example, it’s ranked the 6th best place to start a business in the United States. Plus, this city has a low cost of living and reasonable housing costs.
7. Nashville, Tennessee
Nashville, Tennessee is one of the best cities to start a business. This city is an excellent choice for entrepreneurs who want a welcoming community and a low cost of living. Nashville has also been ranked as one of the top cities for small businesses and entrepreneurship by WalletHub.
8. Boston, Massachusetts
One of the best cities to start a business in is Boston. Boston is one of the best cities for entrepreneurs because it offers many quality schools and universities, many innovative startups, and plenty of resources for entrepreneurs. It also has a thriving economy with plenty of opportunities.
Plus, Boston has a tremendous cost-of-living index, so you won’t have to worry about spending too much money. You’ll be able to afford rent on your startup office space and the cost of hiring employees for your new venture.
The city also has a meager unemployment rate of around 4%, so you can be confident that there will always be people looking for jobs in the area. And if you find someone who doesn’t have any experience in your field, you can easily teach them what they need to know.
9. Portland, Oregon
Portland, Oregon is a great city for entrepreneurs. It’s ranked as the most “livable” city in the United States and has many advantages for entrepreneurs. For example, Portland startups have access to more angel investors than any other city in the country.
Additionally, Portland ranks number one in terms of innovation and creating jobs. In fact, with 39% of all households making over $100K a year, being an entrepreneur in Portland means you will be surrounded by people who want to help you succeed.