When starting up a business along with considering the aspects such as the market for your product and the financial burdens that you will be responsible for; you must also carefully select the perfect city that will ensure that your company can flourish.
Of course, cities such as London and New York will ensure that you can thrive, but other cities can offer better conditions and regulations that can appeal to specific sectors. But which places make the list that people wouldn’t be aware of?
Everybody that has visited the Dutch capital quickly falls in love with the city, but it is often overlooked as a place to start a business. This is because it ranks among the best cities in the world to live in. Amsterdam offers the quickest mobile internet speeds, the highest standard of living and the highest average net salary according to Valuer.
San Francisco is another city that falls into this same category and is very popular among start-ups. However, the cost of living in the Dutch capital is significantly lower than that of the famous American city. Amsterdam also retains and attracts talent from all over the world; which enables it to become a vibrant start-up community.
It would come as no surprise to people who have visited the beautiful Danish city, but the high quality of life in Copenhagen ensures that it ranks among the most popular cities in the world for start-ups. There is also excellent education and healthcare services, which provides that the city can attract talent from around the world.
The start-up community within the city is incredibly connected. The size of the investments is getting bigger for start-ups in the city, although the total number of these is decreasing. The government have also noticed the importance in local business, and they offer a start-up fund to help companies get off the ground. However, Valuer also noticed that it is increasingly hard for foreign talent to thrive in the country.
Birmingham, United Kingdom
Outside of London, there is only one serious city for business according to welovebrum.co.uk, and that is Birmingham. For the second year running it was named as the most prosperous city for start-ups outside of London, and it is only getting more popular. In the survey conducted by Think Tank in 2019, it was found that 18,590 companies were set-up in the West Midlands. This was a steady increase on the 13,165 from the year prior.
The city thrives when it comes to business, and giving new companies it’s just is part of that. Companies such as Buckt, EVezy and Wambiz have also come out of Birmingham.
The turmoil around Brexit has meant that companies have had to second guess where they want to set up their business, and that is something Berlin has pounced on. A lot of companies with offices in London have quickly changed location to Berlin, with the most successful start-ups coming in gaming, e-commerce and adtech.
It is allowed to thrive due to its low cost of living, as well as the diversity across the city of welcoming everybody in. Furthermore, entrepreneurs have easy access to funding should they require it.