Starting a business is a decision that can have both good and bad consequences both on the company and the family of the business owner. This means that you should approach starting a business in the same way that you would approach moving. You need to analyze what you can achieve by moving and what you can lose. Also, you need to know what your strong points are and your weaknesses. When you sum up the neighborhood you want to move to, you need to open your eyes and see potential issues you might face when moving there. If you are just a bit into business, you will know that a good SWOT analysis is the backbone of every good decision making. Therefore, make sure you are starting a business in such surroundings that will help you grow it. Let’s see what are the best Minnesota cities to start a business.
The business climate in Minnesota
Just like any other state nationwide, long distance movers Minnesota is interested in bringing more investments and start-ups to it. We can see on the state’s website that they are trying to improve the business climate on a daily basis. The biggest perk of starting a business in Minnesota is the abundant source of the educated labor force. Nationally, Minnesota ranks second in this field, right after California. It should not surprise though. Given the fact that San Francisco and the Silicon Valley are the most popular areas for starting a tech start-up, Minnesota should be proud to be second in this field. After all, San Francisco offers amazing opportunity in both business and lifestyle. With its year-round mild weather and relatively easy access to beaches, no wonder it’s the first choice of well educated tech-savvy professionals.
Why are Minnesota cities to start a business a better option than San Francisco and the Silicon Valley
The biggest perk of starting a business, working and living in Minnesota represent the living costs. While moving to San Francisco is the nation’s most expensive city to live in, Minnesota is far behind it. Additionally, for business owners, it is going to be interested to know that tax levels in Minnesota are far more competitive than those in SF. When it comes to the earn-spend ratio, let us tell you that with your tech salary in Minnesota you can buy more than what you could buy in San Francisco. Simply, housing and living costs are so much lower in Minnesota than they are in Cali.
Minnesota can be a bit cold
The only downside to living in Minnesota can be the weather. It’s very strong winters can represent a true challenge for some to overcome. Still, there are far more good sides to look for. In case you decide to start a business here, you might need to hire state to state movers for a moving advise.
Find the right place for your start-up
Depending on what your you want to do, you should make sure you find out where your type of a start-up can grow. This means that you should look for a place with the population that meets three important criteria:
- Available good education. This is important because you will need to have educated young people to hire. Now or in the future.
- It is attractive to young professionals. You do not want to start a business in a state whose young are looking to move out from. If their mother state cannot keep them, do not fool yourself that you will be able to.
- The influx of people should be evident. A good idea when deciding to start a business is to find out the ratio between the people who came to live in a city and those that left in the last five years. This should give you an information on what to expect in the future. It will also show you how attractive a city is.
Well-educated workers are key to your success
Why should you choose Minnesota cities to start a business
As we have already mentioned, one of the most important aspects to look out for in choosing the right place to start a business is the education.-Luckily for you, Minnesota is known for its good education opportunities. The population here is very well-educated at the time being. As we speak, 48% of state’s residents have some sort of an associate’s degree. This percentage is second only to Massachusetts.
Additionally, the unemployment rate in Minnesota is well below the average. This is a proof of a good local economy. It should reassure you that starting a business in Minnesota is the right decision to make.
The best Minnesota cities to start a business
As you might have expected, the Twin Cities sit atop the two spot of the best cities in Minnesota to start a business. Minneapolis and St. Paul, which have basically become geographically one city, are the biggest cities in the state. They also have the best business environment state-wise. When it comes to labor force available, major universities are located in these two cities. Therefore, you can expect a steady income of young professionals to come your way and look for work in the future.
St. Paul is one of the best Minnesota cities to start a business
The best Minnesota cities to start a business and those that meet the above-mentioned criteria are:
- Golden Valley
- Minnetonka
- Edina
- Eden Prairie
- Roseville
- Little Canada
- Thief River Falls
- Rogers
- Mendota Heights
- Alexandria
You will find out that most of the mentioned cities are very closely located or connected to the Twin Cities. Bear in mind that the most of education institutions in Minnesota are located right here. Therefore, the importance of St. Paul and Minneapolis in the business life of Minnesota cannot be overstated.
When you have to make a decision
When the time to decide out of which of Minnesota cities to start a business incomes, stay calm. Make sure you are in the right state of mind when you are deciding where to start your new business. One of the best advises, on an emotional level, that we can give you follows. Take as much time as you think you need to make this decision. However, if you come to a conclusion where you want to move to, leave that conclusion to sit with you for a day. Sleep on it. If you feel the same in the morning, then go ahead and start planning your move. Opinions can be different in the evening and in the morning, so take your time and you’ll be fine.