The 10 Best Cities for Young Entrepreneurs
While entrepreneurs can launch new businesses from anywhere, some cities offer a better chance at success. The researchers based their rankings on four key factors:
- Population growth: This indicates more consumer demand and that people are attracted to the area.
- The percentage of young adults earning competitive wages: This demonstrates that there are economic opportunities for younger people and that the community can sustain new products or services.
- The percentage of the population with at least a bachelor’s degree: This indicates that the community has a large population of skilled workers and that the consumer market is sophisticated and affluent.
- Taxes: Lower state taxes offer businesses a better chance at profitability.
Based on the criteria examined, MoneyRates.com named these 10 cities the best for young entrepreneurs in 2016:
- Austin/Round Rock, Texas: According to the U.S. Census Bureau, Austin/Round Rock is the third-fastest-growing metropolitan area in the nation. Additionally, it is one of the more well-educated areas of the country, with more than one-third of its population having a bachelor degree.
- Raleigh, North Carolina: The city is one of the 10 fastest-growing in the U.S., and boasts the highest number for the proportion of the population with at least a bachelor’s degree.
Read Full Article HERE
Source: Business News Daily