When launching a new venture, it’s all about location. Where you set up shop can affect the talent you attract, the customers who walk through your door, and ultimately how much your small business is able to grow.
While starting a new business in a small city is becoming increasingly appealing, according to the Washington Post, the best location for starting a small business isn’t small-town America.
Discover the cities ranked best for startups and other current topics trending in the world of small business.
America’s Best City to Start a Small Business
Think Silicon Valley is the top spot to launch a small business? Not this year.
Unlike the worst places to start a small business, the top-ranking city for small business is a hub for real estate, construction, tourism, technology, banking and finance.
Throw in a massive talent pool, and one city is poised to take a bite out of competing destinations throughout the country.
63% of Small-Business Owners Have an Optimistic Outlook
Small-business owners are past the slump they felt in March.
A Bank of America survey shows that more than half (63%) of them have a bright business outlook due to the new tax policy. It’s the highest level of optimism since 2015.
What are small business owners doing with this newfound optimism? They are investing more into their businesses, raising wages and capitalizing on technology.
More Than 1 Million U.S. Small Businesses Sell on Amazon
National Small Business Week ended May 5th, and even online retail giant Amazon had reasons to celebrate. More than 1,000,000 reasons.
Earlier this month Amazon revealed that more than one million small businesses in the US sell on its platform.
The announcement came at a time when the retailer’s impact on the global economy is under widespread scrutiny.
52% of Small Businesses Use Instagram
Amazon isn’t the only online platform having an impact on small business.
Instagram may not be just for #foodies and the selfie-obsessed. It’s also become a social media powerhouse for small businesses.
More than half (52%) of small businesses use Instagram, according to the Clutch 2017 Small Business Social Media Survey.
Nearly three-quarters (68%) of Instagrammers engage with brands regularly. By getting active on Instagram, you can improve the contact you have with your customer and give your business a leg up on the competition.
How the Latest Tech News Impacts Small Business
While there probably won’t be robots running your store anytime soon, there are plenty of ways to use the latest technology to advance your business.
One idea, exploring AI. Microsoft just awarded millions in venture funding in its first AI startup competition.
Could your business be the next to score funding? It’s worth checking out—especially considering AI is predicted to grow to a $30 billion industry by 2025.
Words That’ll Stick With You:
“I’m convinced that about half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance.” Steve Jobs, Apple co-founder
If you’re an aspiring entrepreneur, the Big Apple is ripe with opportunities to grow your new business. The key is making the leap and going out on your own, wherever you choose to build your business.
The small-business climate is overwhelmingly positive—more than it is has been in years. With new technology at your fingertips, and online resources helping you connect to potential customers, anything is possible.
What’s on your mind? How can we help? Send a note to QRCeditor@inuit.com.