Fri 6 Nov 2009
Does your geographic location impact your success as a small business? CCN Money just announced their newest list of the 50 best places to launch a small business. From strong housing markets to stable economies and large pools of qualified workers, the cities chosen by CNNMoney.com have one thing in common: they are the place to be for entrepreneurs who want to succeed in starting new small businesses:
Here are the cities that made the Top 10, according to CNN Money:
1. Oklahoma City, OK
Oklahoma received top honors as the number-one place in which to start a new business for a number of reasons. From the second lowest foreclosure rate among metro areas in the nation to the second lowest median rent price in the country, Oklahoma City has proven itself, time and time again, to be a diverse, progressive city with growth in a number of industries, including medical research, energy, education and government.
2. Pittsburgh, PA
Long gone are the days of steel mills and dirty skies. In fact, Pittsburgh, PA has made a new name for itself through its top-notch universities and its prominence in all things technology, including robotics and artificial intelligence. And, of course, Pittsburgh has become a world renowned city for its leading healthcare.
3. Raleigh, NC
Raleigh, NC first draws entrepreneurs in with its epicenter of technology, Research Triangle Park. Located just a few hours from both the coast and the Appalachian Mountains, Raleigh attracts a wide variety of tourists. Homes are quite affordable here, and the technology markets are highly competitive, making this city a popular destination for young professionals.
4. Houston, TX
Houston has seen increases in its economy over the last decade because it has diversified its economy and committed a great deal of capital to improvements, including the public transportation system and the Texas Emerging Technology Fund. The Texas Emerging Technology Fund has targeted the energy, aerospace, information technology, nanotechnology, biotech and medical industries. Houston now has some of the best healthcare in the country, including the world's largest medical center.
5. Hartford, CT
Hartford, CT is an historic city with a rich background. From specialty manufacturing and technology firms to a plethora of cultural amenities and public parks, Hartford is a low-cost alternative to the nearby cities of Boston and New York City.
6. Washington, D.C.
From politicians, lobbyists, lawyers and highly educated professionals, Washington, D.C. still remains a highly popular place in which to start a small business. Although rent is high, many business owners are still drawn to Washington, D.C. because of the unsurpassed opportunities found here.
7. Charlotte, NC
Known as a leader in manufacturing, Charlotte, N.C. now enjoys more than 1,900 manufacturers, from computer electronics to bio-medical companies. This city also boasts the second largest financial sector in the nation, trailing only New York City. As a result, Charlotte is home to several Fortune 500 companies. With a steady growth in population and a low unemployment rate, Charlotte continues to attract new talent and entrepreneurs.
8. Austin, TX
Start-up businesses thrive in Austin, TX. Known for its appealing tax structure, which includes no state personal income tax, business development is alive and well in this southern city.
9. New York, NY
With all of the people, jobs and services found here, it's no wonder that New York City is still the place to be for business start-ups. Although this city is known for its high rents and wages, entrepreneurs come here, time and time again, because of the abundant opportunities.
10. Baltimore, MD
Baltimore offers plenty to small business, including the Emerging Tech Center, which helps tech startups, and the Baltimore Development Corporation, which offers low-interest loans to small businesses. This area is also known for its biotech startups, mainly because of the wide availability of research grants.