One part of the American Dream is to own your business. With
that said, there are some cities which are more affordable to begin a start-up
than others. US Media Studios notes the
five most affordable cities.
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| Chattanooga, TN |
It is not surprising to us that four of the five most affordable
places to open a business are in the South. Located in sunny south Florida, we
can attest to the number of start-ups that open here. We took a look at the data run by SmartAsset
for start-up costs over the first year of operation: cost of office space,
price of gas and electricity for that space, legal and accounting fees, and
payroll costs for five full-time employees making the city’s average annual
salary.
Based on these factors, below are the five cities where
entrepreneurs might want to open their new venture’s doors:
- Chattanooga, Tennessee
- Wichita, Kansas
- Greensboro, North Carolina
- Columbia, South Carolina
- Knoxville, Tennessee
Many American cities are great for starting up a
business. There are events for
entrepreneurs to get together, financing to help the new business owner become
and stay operable, and some cities have a great number of graduates from
universities and tech schools to recruit.
It should also be noted that some of these cities, and others in the
South, have an affordable cost of living, which makes living there an added
bonus. Some of the top ten cities have strong economic support in specific
industries such as education, technology, or healthcare, which would be great
for the entrepreneur with products or services in that field. Click here for the
full list of affordable start-up cities, and more the list of most expensive
cities to open your own business.
