Charlotte has ranked 5th in the nation out of the 50 biggest cities for entrepreneurs. LendingTree compared the business’ age to the age of the business owner in addition to citing favorable factors about the city that may have made it so successful in supporting entrepreneurs.
The average age to start a business in Charlotte is 38.2, falling just behind Salt Lake City, Buffalo, New Orleans, and Oklahoma City.
Here’s why Charlotte ranked 5th on this list and why it’s such a good choice for people looking to start their own business.
Strong Support for Business Startups to Succeed
Although the average age for people to start a business doesn’t differ hugely between these cities, these data could point to bigger differences between cities that can prevent people from starting businesses. For example, cities that have support systems in place for entrepreneurs in addition to a lower cost of living and a solid local economy placed high on the list.
Ranking 5th, Charlotte offers few obstacles for entrepreneurs to get their business off the ground and be successful while doing so. Charlotte’s friendliness towards business startups allows younger people to more easily reach their goal and be successful when starting their own business.
Other factors that have helped Charlotte rank include tax laws that are advantageous for businesses and adequate funding for startups in addition to its strong economy and lower cost of living.
Friendly Towards Small Businesses
According to Thumbtack’s Small Business Friendliness Survey for 2018, Charlotte also ranks in the top ten cities, coming in 10th place.
Charlotte’s friendliness towards small businesses has allowed people who are even younger than the average age of 32.8 to begin their startups here. In fact, 5% of new business owners in Charlotte are Generation Z or younger (mid-1990s to mid-2000s).
Charlotte has a great system in place that enables entrepreneurs to succeed in this fabulous city!
Where You Start Your Business Matters
Where you start your business matters more than you think. With over 30% of Americans thinking about starting their own business, where to place your business’ roots could be a pivotal factor in its success.
Considering the favorable aspects of a certain city can help accelerate your business launch and augment your success. Being selective about where you decide to start your business can make all the difference. Consider Charlotte as the city to start your business with all it has to offer!