There are plenty of stories we have heard about the cities in world that have made successful entrepreneurs. Many metropolitan areas are becoming the breeding grounds for startups. Why some places are good for business, may be because of economic environment, employment growth, educational attainment, easy availability of employees, housing facility and many more. Here are examples of 15 places in the world to launch a successful business.
Bangalore, India: There are many reasons for startups to locate in this region such as the workforce is very talented and educated, government is very helpful. There are many tech companies established here and doing well.
Berlin, Germany: It is a budding European entrepreneurial hub, measured as the earlier version of New York City. Here the kind of entrepreneurs are different in every perspective, fewer PhD’s, less educated, target market is small etc. But they are very motivated and consider work ethics as the intangible qualities in them.
Boston, Massachusetts: This place is ranked first for the plentiful startup money. Entrepreneurs here are more educated than any other places. There are more chances to have a PhD entrepreneur and are keen to develop the new product than to build the company.
Chicago, IIIinois: It is an emerging entrepreneurial hub in the Midwest. Windy city is best known because of Groupon. The average age of entrepreneurs in Chicago is 37 years which is quiet old as compare to other regions. Entrepreneurs here once lived or worked in New York City or Silicon Valley.
London, UK: London based entrepreneurs rely on like-minded colleagues in their area and are the best business location for Europe. It is the likely destination to set up shop abroad for U.S.
Los Angeles, California: This place is known because of the entertainment industry and the shadow of Hollywood has made it very large in size. Los Angeles total contribution of startup founders is 29% and ranked far above the ground in terms of the entrepreneurial talent.
New York City: Hotbed on the East Coast has launched impressive entrepreneurs and has nationally recognized enterprise. New York City is fruitful for entrepreneurs who are looking for ecommerce. Place is known for women entrepreneurs as one fifth of the startups are established by women tech entrepreneurs here. Example of entrepreneurs who are shaking the New York City are Brooke Hammerling, Founder, Brew Media Relations, Scott Gerber, Founder, Young Entrepreneur Council and many other.
Paris, France: Unlike the Silicon Valley, Paris is not able to attract the budding entrepreneurs because of the funding issues in the later stages of the development. Here the data of women entrepreneurs is very not as much as compare to NYC.
Seattle, Washington: Seattle is near to Silicon Valley that makes it a great place to network and establish roots. Microsoft was known for Seattle’s gemstone until Steve Jobs return to Apple in 1997. There are many commonalities between Silicon Valley and Seattle. Research says that 41% of Seattle entrepreneurs once worked in Silicon Valley and that is another reason of overlapping.
Silicon Valley, California: Silicon Valley is known for the network and funding potential all over the world. It is a silver spoon ecosystem for the business. It can be called as the ideal environment to start the business and become the successful entrepreneur. If we go through the example, Jack Dorsey (Twitter and Square, Mark), Steve Jobs (Apple), Zuckerberg (Facebook) all started their business from Silicon Valley.
Singapore: This is the best location for startups as there is a benefit of nearby markets in India and China which encourages the entrepreneurs to grow worldwide. There is no issue of capital funding in Singapore as it has a strong network to Silicon Valley. But there are areas of improvement in Singapore, here the workforce lacks in work ethics. The best part is here the entrepreneurs work for an average of 11 hours per day longer than any other entrepreneurs in the list.
Sydney, Australia: Entrepreneurs can do well in Sydney but in later stages they might face problem of influencing markets outside Australia. This is the reason startups here go for niche market because they have fewer employees and issue of capital raising.
Tel Aviv, Israel: Tel Aviv is known for the tech startups in the world. It boasts a high density of startups because of the advertising business that generates higher revenue as compare to Silicon Valley. It is also dominated by the tech driven markets as compare to big winner markets.
Toronto, Canada: When it comes to competition Toronto has 84% fewer entrepreneurs as compare to New York City, Boston and Silicon Valley. It is the best location in Canada but it suffers from insufficient funding from investors and has to rely more on self-funding from family and friends. Entrepreneurs from Toronto are not trusted as they may head to other regions because of better financial funding.
Vancouver, Canada: Vancouver ranked best in talent and bottom half for entrepreneurial chops. Similar to Toronto it also suffers from a lack of financial funding from the potential investors. But exception are always there, Flickr, is the most successful business in the field of photo uploading from the area.
These were the best cities in the World for the entrepreneurs to start their business, due to many different reasons like government initiatives, location that attract more and more entrepreneurs, funding, educated workforce etc. which we have seen in the above list.