There are millions of Americans who seem to be born with some kind of an entrepreneurial inclination. Think back to the Gold Rush times when tens of thousands headed west to claim their stake, or the Industrial Age where so many people made their mark with innovative inventions. The 1990s-2000’s belongs to the millions who took to the internet starting .com businesses.
More than 28 million small businesses in the U.S. or the equivalent to about 10% of our labor force own their own businesses. There is a limitless market for new ideas, services and products everywhere that could make one a millionaire.
The new list of the top 20 cities in 2018 to start a new business has just been released. Denver came in at 12th place. Oklahoma City, Oklahoma came in the number one spot. The entire list: 1) Oklahoma City, 2) Austin, Texas, 3) Sioux Falls, South Dakota, 4) Missoula, Montana, 5) Durham, North Carolina, 6) Bismarck, North Dakota, 7) Cheyenne, Wyoming, 8) Billings, Montana, 9) Charlotte, North Carolina, 10) Raleigh, North Carolina 11) Salt Lake City Utah, 12) Denver, Colorado, 13) Grand Rapids, Michigan, 14) Miami, Florida, 15) Orlando, Florida, 16) Springfield, Missouri, 17) Casper, Wyoming, 18) Laredo, Texas, 19) Atlanta, Georgia and, 20) Fort Worth, Texas.
The list is made from a combination of the prevalence of investors, average length of the workweek, start-ups per capita, living expenses, office-space affordability, ease of obtaining a loan, labor costs, the number of college-educated people living in the area, and the business survival rate. The survey was performed using the above information from the 150 most populated cities in the U.S.
The Denver-Aurora-Broomfield area scored eighth place in another list that named the top 15 most entrepreneurial cities for 2018. This survey included 40 of the largest metropolitan area in the U.S. and was based on: number of firms with paid employees, number of non-employer firms, annual payroll, tax friendliness to small business, startup density, rate of new entrepreneurs, venture capital investment in area, business as the primary source of income for local entrepreneurs, infrastructure and pollution.
Denver has a high rate of 71.6% of entrepreneurs who rely on their businesses as their primary source of income. There is a high rate of 390 new entrepreneurs out of every 100,000 adults starting a business each month (Denver came in ninth place in this survey). It was also noted that approximately 92 firms out of 1,000 businesses are less than one-year old.
In yet other analysis, Denver came in number one out of 40 comparable cities as having the lowest unemployment and having an abundance of young working people. Although they cited expensive rents, the gorgeous mountain scenery and easy access to transportation and recreational areas beat out a higher cost of living.
If you’re one of the new entrepreneurs or thinking of a start-up business, our experienced and qualified business attorneys in Denver, Colorado at Gantenbein Law Firm can assist you in planning, drafting and implementing a host of business contracts, your business formation, employee benefits policies, bylaws, reports, leases, business licenses - all the representation you will need to start you on the road to success. Gantenbein Law Firm's experienced Denver tax attorneys will provide the best legal advice for all taxable issue with your business.
For more information, or to schedule your business consultation, call 303-618-2122 or visit www.gantenbeinlaw.com. You may also book your consult online.
Gantenbein Law Firm is located in Denver, Colorado and practices Real Estate Law, Tax Law, Business Law, Probate, Wills & Trusts, Estate Planning, Elder Law, HOA disputes, Foreclosure Defense and Credit Dispute and Repair.