At some point, all entrepreneurs must make a tough decision: where to launch their startup. While finding a market for your product and services is important for the success of your business, it isn’t the only factor that should be considered when you start your entrepreneurial career.
Many know that Charlotte is a great place to live, but some may be surprised to learn just how much of a hotspot it is for startups. Entrepreneurs and business owners from all over continue to flock to the Queen City for more than just its friendly atmosphere and eclectic mix of neighborhoods. Let’s take a look at why Charlotte is the best place for entrepreneurs:
One of the reasons why Charlotte is appealing to both international and regional businesses is due to its superior transportation systems. Whether you need to travel by air, rail, or water, the Queen City can accommodate your needs. The Charlotte Douglas International Airport ranks in the top 10 busiest airports in the United States due to it being such an international business hub. Those who need to get around the city will find it easy with the LYNX Blue Line Light Rail and its deep-water seaports also play a vital part in its economy.
A Diverse Economy
Having a diverse economy is important for cities that want to keep the business sector growing and sustainable. Because Charlotte is an attractive place to live for people from all walks of life, the city boasts a wide range of profitable businesses that contribute to a stable economy. This stability, in turn, attracts others looking for a place to start their business.
The financial sector in Charlotte is particularly lucrative. Home to numerous Fortune 500 companies such as Bank of America, the Queen City is the nation’s second largest financial center after New York City. In addition, the motorsports industry drives much of Charlotte’s economy, with over 700 motorsports-related companies located in the Charlotte region. This diverse economy benefits not only entrepreneurs, but everyone living in Charlotte.
Low Cost of Living
Thanks to a stable and diverse economy, Charlotte’s cost of living is also relatively low compared to many metro cities. WalletHub recently compared 150 of the most populated U.S. cities using metrics such as job opportunities and economy growth. Out of these cities, Charlotte ranked 44th—pretty impressive for a city that has the second largest financial sector in the United States. If you’re looking to move to Charlotte, the Charlotte Chamber has a helpful cost of living calculator that gives you a comparison of the cost of living in Charlotte and the city you are moving from.
Access to Funding
Getting your business off the ground can be difficult, which is why many entrepreneurs appreciate Charlotte’s numerous resources that can help them achieve success. There are many avenues for those in Charlotte to fund their business, such as:
- Angel and equity investors
- Local programs
- State programs
- Entrepreneur organizations
No matter what stage your business is at, you can find easy access to funding and other resources with ease by checking out the Charlotte Chamber’s Small Business Tool Kit.
Experience Business Growth at Ballantyne
Charlotte’s stable economy and abundance of funding opportunities make it a great place for entrepreneurs. In order to accommodate this growth, YourOffice Ballantyne offers luxurious office and meeting spaces, as well as virtual office solutions. Contact us today to find out how you can experience business growth at Ballantyne!