If you are entering into the job market after graduating from college or are looking to start your own business, some cities offer an especially thriving environment for business and employment opportunities, according to Business.org.
Business.org researched over 300 cities and assessed their financial environment, demographics and start-up friendliness.
Startup growth rates were determined by measuring changes in employment for start-ups in their first five years. Many of the cities ranked had a recent start-up employment growth rate of over 75 percent.
Most cities in the top 10 scored 90 percent on employment rates or higher.
The cost of housing and the levels of education of each city’s population were also evaluated.
These are Business.org's top cities, in ascending order, for entrepreneurs and start-ups:
10. Denver
The Mile High City is booming with tech start-ups and “green” businesses, which are creating many job opportunities for college graduates, according to Business.org. The city’s proximity to the mountains and ski resorts also gives Denver a boost for jobs and start-ups in tourism and entertainment. Denver has a 75 percent startup growth rate.
9. Portland, Ore.
The start-up job growth rate in Portland is 93.84 percent. Rose City is home to a rich restaurant and tourist industry that provides fertile ground for start-ups and small businesses. The cost of living is more affordable compared to Denver or Seattle.
8. Boston
The job growth rate of start-ups in Boston is 87 percent, which is good news for recent college graduates and future entrepreneurs. Boston, with its many colleges and universities, ranks high in terms of residents with a bachelor’s degree and it has a high employment rate. Boston start-ups raised $367 million in February 2018, according to Business.org.
7. Seattle
Amazon, Starbucks and Microsoft are the big job generators in this city. The start-up rate success is around 80 percent and employees at start-ups went from an average of 5.1 to 9.1 for firms' first five years. Seattle is known for its high cost of living, so a part-time side job at Starbucks may not be such a bad idea.
6. Nashville, Tenn.
The city has a start-up growth rate of 95.6 percent. Nashville ranked 29th in start-up activity, 20th in Main Street entrepreneurship and fourth in growth entrepreneurship. The cost of living is considered affordable.
5. Columbus, Ohio
Start-ups have an average of 12.6 employees after their first five years. The city's affordability and young population has given Columbus a “hipster” vibe, according to National Geographic.
4. San Jose, Calif.
San Jose is the most educated city, with the most start-ups, according to Business.org. San Jose ranked fifth for entrepreneurship growth. The city has a young and educated population, bringing employees and ideas to new businesses, the website said. Start-ups grew at a rate of 115 percent; after five years, start-up employees go from an average of 5.2 to 11.2.
3. Minneapolis
It may be cold in Minnesota, but that hasn't prevented Minneapolis from seeing a boom in start-ups. The city boasts a 121.29 percent start-up growth rate. Start-ups here go from an average of 6.1 employees to 13.4 in the initial five years. The young, educated population is similar to that of Austin, Texas, and offers many cultural options, according to Business.org. Minneapolis/St. Paul moved up in the ranks for entrepreneurship from 16th to ninth since last year’s report.
2. Austin, Texas
The city is home to 5,500 start-ups, as well as Google, Facebook and Apple. Educated millennials and the low cost of living make this city a good place to find and keep skilled workers, according to Business.org. Austin ranked second in startups and second in entrepreneurship. Austin’s start-up employment growth rate was 85 percent.
1. San Francisco
Start-up employment continues to grow at an impressive 106.9 percent in this city. With a young, educated and wealthy population, the city provides a healthy growth environment for businesses. Though the city is expensive, the salaries are higher than average.
The full Business.org report can be viewed here.
