Close this search box.
Blog » Business Tips » Looking for a Place to Start a Business? Here are the Top 10 Places to Try

Looking for a Place to Start a Business? Here are the Top 10 Places to Try

We all know the real estate chant: location, location, location. This holds true when you want to start a business as well. Where you move matters.

One of the reasons I moved to Idaho Falls, Idaho, is because there is a low cost of living. I’m not planning to start a business anytime soon, but I did want a place where I could write and my dollars could go further.

If you are more entrepreneurial, it’s possible for you to get a good start by moving to one of the top cities for your situation. Livability recently released a list of the top 50 cities for entrepreneurs.

The top 10 cities on this list include:

10. State College, Pennsylvania

9. Fredericksburg, Virginia

8. Columbia, Missouri

7. Fargo, North Dakota

6. Ann Arbor, Michigan

5. Chapel Hill, North Carolina

4. Charlottesville, Virginia

3. Provo, Utah

2. Austin, Texas

1. Boulder, Colorado

Trying to decide where to move to start a business can be a big decision. You want to be able to have a good quality of life while you grow your business. And, of course, you want a place where the conditions are ripe for growing your business in an affordable manner.

What Makes a Place Good to Start a Business?

You don’t need to live in one of the cities on the top 50 list to build a good business. As you look at your situation, consider what makes the most sense for your business and your lifestyle goals. Some of the items that make a city a good place to start a business, according to the Livability measure, include:

  • Business growth
  • City’s unemployment rate
  • Business tax rate for the city
  • Project income growth in the city
  • Number of venture capital deals in the last 10 years
  • Business funding received by organizations from the SBA
  • Percentage of college-educated locals

These are some of the factors you might consider if you want to make sure you aren’t paying too much in taxes and if you want a skilled workforce.

But it’s not just about business conditions when you look for a place to start a business. You also want to pay attention to quality of life. Not only can it help you attract more qualified workers when you base your business in a location that offers a number of amenities, but it can also make your own life more enjoyable.

Deciding Where to Move for Your Business

The only Idaho city on the list is Boise — which is on the other side of the state from where I live. However, for me, it’s not about starting a business. As a freelancer, I look for other qualities in a place to live. I wanted to live someplace with a low cost of living, and my situation means I want to live near my parents.

You might have other requirements. I don’t need to worry about workers, or with finding a low-cost building to rent. Idaho taxes are reasonably low, and there are other reasons to live where I do. I also know a number of entrepreneurs who moved to Tennessee for the lower cost of living and taxes.

Think about what matters to you, and the goals you have for your business. Once you find the right place to live, and start a business, you will be able to thrive.

About Due’s Editorial Process

We uphold a strict editorial policy that focuses on factual accuracy, relevance, and impartiality. Our content, created by leading finance and industry experts, is reviewed by a team of seasoned editors to ensure compliance with the highest standards in reporting and publishing.

Credit Expert
I’m Miranda and I’m a freelance financial journalist and money expert. My specialties are investing, small business/entrepreneurship and personal finance. The journey to business success and financial freedom is best undertaken with fellow travelers.

About Due

Due makes it easier to retire on your terms. We give you a realistic view on exactly where you’re at financially so when you retire you know how much money you’ll get each month. Get started today.


Top Trending Posts

Due Fact-Checking Standards and Processes

To ensure we’re putting out the highest content standards, we sought out the help of certified financial experts and accredited individuals to verify our advice. We also rely on them for the most up to date information and data to make sure our in-depth research has the facts right, for today… Not yesterday. Our financial expert review board allows our readers to not only trust the information they are reading but to act on it as well. Most of our authors are CFP (Certified Financial Planners) or CRPC (Chartered Retirement Planning Counselor) certified and all have college degrees. Learn more about annuities, retirement advice and take the correct steps towards financial freedom and knowing exactly where you stand today. Learn everything about our top-notch financial expert reviews below… Learn More