#18 The Best Place To Startup
By Amit-Krishna Kallakuri
Today, our society embraces the excellence of individuals through their own entrepreneurship and holds those who try to achieve the American Dream in high esteem. The American Dream, the notion that all individuals can achieve success through hard work is commonly associated with the business world. In this “world”, it is important to mention what makes someone successful. For example, young and energetic environments help to nurture and encourage the science of innovation. So, on the topic of the environment, how can locating yourself in a certain area affect the results of your business startup, and where is the best place to start a business? Too many, the answer may seem obvious: Silicon Valley. This is very true, Silicon Valley has dominated the startup industry for many years. It is the center of innovation and only a few cities outside of the Valley (New York and Boston) have had the “critical mix of funding, network, and talent” to fuel vibrant startup centers. However, more and more entrepreneurs are finding their way across the United States. It depends on the type of company that you are looking to develop. For example, many metro areas with growing infrastructure and skilled workforces can support tech startups. In this installment, we will be looking at areas/cities other than Silicon Valley that can aid in the success of a company.
Let’s start with the top cities and locations that attract the most entrepreneurs. Cities in Texas, such as Amarillo and Austin, have been shown to be the hotspot for today’s up and coming entrepreneurs who wish to develop a company. Springfield and St. Louis, Missouri, have also been frequented by entrepreneurs looking to achieve great results. What do all these cities have in common? They all support a low cost of living and a relatively low-income tax. These type of conditions are very appealing to young entrepreneurs for two simple reasons. Firstly, if you are a young entrepreneur, just starting up a company, it is very unlikely that you have a lot of money, so living in a place that supports cheap living is very important. Secondly, people attract other people, and so many millennials are drawn towards cities with peers their age and with similar interests. Naturally, this factor adds an energetic aura to the area in which people work. With this in mind, it seems appropriate to answer the question posed at the beginning of this article. Where is the best place to start a business? While there are many cities that have the conditions listed above, my opinion about the best place to make a startup would be Oklahoma City. What makes Oklahoma City the best place is the combination of a “strong, small-business-lending environment and a lower cost of living. Additionally, paperwork that would take weeks in other cities can be finished within a day, making living requirements all the more easier.. Due to these factors, Oklahoma City is attracting more and more entrepreneurs. Our interviewers always ask the question “what advice can you give to the next generation of entrepreneurs?” Our team is focused on the next generation, and when answering the question “where is the best place to make a startup?”, it is important that we take in to account what young entrepreneurs are looking to do. No, it may not be nearly as famous as Silicon Valley, the so-called “center of innovation”, but, it is growing into, what has potential to be, the next big city for the next generation of entrepreneurs!