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The 8 Best U.S Cities to Start a Business In

The 8 Best U.S Cities to Start a Business In

While a well-developed new business can survive in challenging circumstances, there are certain U.S cities that provide the most fertile soil to bring your business from a seedling to a thriving operation. But what makes these locations the best? A variety of factors interact to create the ideal circumstances for a new business venture – things like less competition and a lower cost of living. Nerdwallet researchers also considered unemployment rates, income levels, and population density to determine where you’d have the best chance to start a business and succeed in the long-term. Just as a web-hosting directory allows you to compare virtual domains for your company page, this Nerdwallet study lets you compare the best physical locations for your business.

1. Boulder, Colorado

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    Everyone’s favorite ski town, Boulder ranks number one on the list of best places to start a business. With a population of 301,072, Boulder showed a high number of businesses per 100 people: 14.1. While it may see counter-intuitive, having other businesses nearby is actually a strength. Most of the businesses surrounding you will not be competitors, and it offers the perfect opportunity for foot traffic and drive-by exposure. Boulder hosts a strong technology scene and is home to several coworking spaces, incubators, and networking events.

    2. Wilmington, North Carolina

    A seemingly random choice for the second best place to start a business, Wilmington is both close to the beach and growing as a tourist attraction. Downtown Wilmington hosts the highest number of businesses per 100 people: 15, making it an especially bustling spot for businesses owners to set up shop.

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    3. Greater Bridgeport, Connecticut

    The most noticeable scene you’ll find in Bridgeport is its active art scene. Bridgeport also ranks the highest annual median income of all cities on the list at $63,369, and has a highly educated population. Family-owned businesses like Amodex have garnered significant financial success in this city of opportunity.

    4. Evansville, Indiana-Kentucky

    Evansville is a lesser-known city on the list, but features several active cultural districts. The Growth Alliance for Greater Evansville also offers some unique assistance to new entrepreneurs, like help in selecting a location, tax phase-in assistance, and programs to assist you in expanding your business.

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    5. Greater Portland, Maine

    Often mistaken for the hipster mecca of Portland, Oregon, Portland, Maine is actually the safer place to start a business in the U.S. This city hosts an impressive foodie culture with countless culinary businesses already thriving. There are opportunities for meeting places, health insurance, and even cell phone plans thanks to the Portland Regional Chamber of Commerce. To top things off for bootstrappers, Maine is also one of the cheapest states for car insurance, with a premium that is $539 less than the U.S. annual average.

    6. Cedar Rapids, Iowa

    Cedar Rapids is a top city in the world for corn and grain processing, and home to cultural centers like Orchestra Iowa and the Paramount Theatre. While it may not be known for attracting entrepreneurs, it does have a pleasantly lower cost of living. Furthermore, it’s unemployment rate is the lowest on the list at just 3.8%.

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    7. Greater Beaumont, Texas

    You may not know anything about Greater Beaumont, but its cost of living is something to pay attention to. Greater Beaumont’s average household paid a total of just $8,316 per year on housing costs, lower than any other city on the list. The town is also home to a delightful Cajun culture, as well as a view of the Gulf of Mexico.

    8. Green Bay, Wisconsin

    We know Green Bay for its fanatical football fans, but there’s way more to the city than this. Along with museums, restaurants, and shops, Green Bay also features the CityDeck, a boardwalk that runs along the Fox River. The Greater Green Bay Chamber offers hefty microloans to new business owners.

    This isn’t to say that you’d fail to start a business in a city that is not on this list. However, if you live in or near one of these cities and are thinking about trying your hand as an entrepreneur, this report gives you the official “OK.” The report shows that above all, the Midwest seems to be the ticket, offering easier circumstances than most coastal cities.

    Featured photo credit: Cory M. Grenier via imcreator.com

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    Last Updated on March 12, 2019

    20 Inspiring Vision Statement Examples (2019 Updated)

    20 Inspiring Vision Statement Examples (2019 Updated)

    There is normally a lengthy list of things you need to consider when starting a business, and if you don’t manage them properly, your excitement can quickly turn into overwhelm. What can support you to stay inspired and on the right track when starting out? You guessed it: this is your vision statement.

    What Is a Vision Statement?

    A vision statement is like a photograph of your future business, which gives your business shape and direction.

    A vision statement provides the direction and describes what the founder wants the organization to achieve in the future; it’s more about the “what” of a business. It is different from a mission statement, which describes the purpose of an organization and more about the “how” of a business.

    If you were to take a photo of your future business now, what would it look like? What do you want your business to be recognized for one day?

    You need to have a crystal clear vision when you start out, otherwise you can get easily lost in deciding the best way forward. When you are making strategic decisions for your business and even daily operation decisions, your vision statement will give you the inspiration and targeted direction you need.

    The Importance of a Vision Statement

    Without a vision statement, your business will lack motivation to keep going.

    If you don’t aim for anything, you might not hit anything. The more specific and clear you are, the better your chances are at seeing your vision turn into reality.

    The importance of a vision statement cannot be overlooked; not only does it provide long term direction and guidance, but it also gives you the inspiration and the necessary energy to keep going when you feel lost.

    Always keep your vision statement alive by revisiting it regularly and communicating your vision with other members of the team, to inspire and motivate them as well.

    How to Craft an Inspiring Vision Statement

    1. Dream big and use clear language

    An inspiring vision statement should inform a clear direction and priorities for the organization, while challenging all the team members to grow together. Based on our expert sources’ advice, we’ve got some great tips for you:

    • Imagine how you want the business to be like in five to ten years.
    • Infuse the business’ values in the statement.
    • Make sure that the statement is implying a clear focus for the business.
    • Write your vision statement in the present tense.
    • Use clear and concise language.
    • Ensure the statement is easily understood.

    There are many different types of vision statements and there is no wrong or right way to do it. The most important thing is to resonate with it. It will always inspire you and give you a clear targeted direction.

    2. Get inspirations from the successful companies.

    Having researched on a number of successful companies’ vision statements, I’ve shortlisted 20 good examples for the new startups:

    Short vision statements made up of a few words only:

    1. Disney

    To make people happy.

    2. Oxfam

    A just world without poverty.

    3. Ikea

    To create a better every day life for the many people.

    Quantitative statements are based on numbers, quantities:

    4. Microsoft

    Empower every person and every organization on the planet to achieve more.

      5. Nike

      Bring inspiration and innovation to every athlete* in the world. (*If you have a body, you are an athlete.)

        Qualitative statements are based on qualities that you want to have:

        6. Ford

        People working together as a lean, global enterprise to make people’s lives better through automotive and mobility leadership.

        7. Avon

        To be the company that best understands and satisfies the product, service and self-fulfillment needs of women—globally.

        Competitor based statements – this type is becoming less common, but famous examples are:

        8. Honda – in 1970

        We will destroy Yamaha.

        9. Nike – in 1960s

        Crush Adidas.

          10. Philip Morris – in 1950s

          Knock off RJR as the number one tobacco  company in the world.

          Role Model Vision Statements – using another company as an example:

          11. Stanford University – in the past

          To become the Harvard of the West.

          12. Reach for Success – in the past

          To become the next Tony Robbins in self development.

          Internal Transformations vision statements:

          13. Apple

          To produce high-quality, low cost, easy to use products that incorporate high technology for the individual.

          14. Giro Sport Design

          To make sure that riding is the best part of a great life.

          15. Tesla

          To accelerate the world’s transition to sustainable energy.

          16. Sony

          To be a company that inspires and fulfills your curiosity.

          17. Facebook

          To give people the power to share and make the world more open and connected.

            Longer and more detailed vision statement:

            18. Walmart

            To give customers a wide assortment of their favorite products, Every Day Low Prices, guaranteed satisfaction, friendly service, convenient hours (24 hours, 7 days a week) and a great online shopping experience.

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            19. Coca Cola

            To achieve sustainable growth, we have established a vision with clear goals:

            Profit: Maximizing return to share owners while being mindful of our overall responsibilities.

            People: Being a great place to work where people are inspired to be the best they can be.

            Portfolio: Bringing to the world a portfolio of beverage brands that anticipate and satisfy peoples; desires and needs.

            Partners: Nurturing a winning network of partners and building mutual loyalty.

            Planet: Being a responsible global citizen that makes a difference.

              20. Heinz

              Our VISION, quite simply, is to be: “The World’s Premier Food Company, Offering Nutritious, Superior Tasting Foods To People Everywhere.” Being the premier food company does not mean being the biggest but it does mean being the best in terms of consumer value, customer service, employee talent, and consistent and predictable growth.

              The Bottom Line

              Remember, always keep your vision statement up-to-date to direct your company’s actions.

              Remember, once you reach your vision, it needs to be changed. General Motors overtook Ford as #1 automotive company in the world because once Ford’s goal was reached, they never updated it.

              Keep your vision statement alive and visibly in front of you, revisit it and let it help direct your actions and activities. This is the fun part: this is where you get to dream really big and allow your imagination to fly as high as you want.

              Don’t hold back, let your creative juices flow and give yourself permission to explore what is possible for your business.

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              To your success!

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