The United States is a very large country where every state can sometimes feel like its own small country. The differences in cultural identity, available resources, and historical integrity mean that each state and their corresponding cities are likely to have a different thriving industry. Spread out between Oregon, Missouri, Florida, and Texas, the top 12 cities for entrepreneurship have seen incredible growth in start-ups and small businesses. If you are in the market for a business to buy, consider one of these emerging cities as a place to start.
12. San Antonio, Texas
San Antonio’s growing economy is ranked 4 in the state and 38 in the nation. It focuses primarily on government/civil service and the military but has been seeing increases in healthcare and tourism.
11. Portland, Oregon
The first thing that comes to mind when one thinks of Portland, Oregon is large, plentiful trees. However, the highest-grossing industry is metals. Did you guess that?
10. Orlando, Florida
Unsurprisingly, the largest and most successful industry in Orlando is tourism. With Walt Disney Company’s top presence, it is no wonder those seeking to start a business in tourism, consider Orlando.
9. Kansas City, Missouri
Kansas City was historically known for beef and its large rail network. However, the two top-ranking industries in this growing city now include manufacturing and distribution.
8. Houston, Texas
Much like Kansas City, the 8 ranking city for entrepreneurship is best known for advanced manufacturing. In fact, nearly 1 in 3 manufacturers in Texas call Houston their home.
7. Los Angeles, California
The home of Hollywood and motion pictures, you might be surprised to learn that the highest-ranking industry in Los Angeles is actually agriculture.
6. Phoenix, Arizona
This sunny city is the home of major technology companies. In addition, they are known for manufacturing, mining (copper, gold, and silver), and tourism.
With blue skies and mountain views as the backdrop, this dreamy city’s top industries include agriculture and manufacturing, as well as mining and tourism.
4. San Diego, California
Unlike many of the cities just discussed, San Diego is one of the more diverse cities in terms of the top-ranking industries. For instance, aerospace actually has the most employees, while biotechnology is seeing the biggest growth.
3. Dallas, Texas
The top industries for Dallas, TX are technology, financial services, and defense. This makes a lot of sense, as the Fort Worth area is not too far away.
2. Miami, Florida
Unsurprisingly, Miami’s highest grossing industry is tourism, as it remains unconcerned by nonexistent seasonal changes. Secondly, finance and communications play a major role in the economy because Miami is the most important city in the country for Spanish-language media.
1. Austin, Texas
The top city for entrepreneurship sees major growth in technology. From artificial intelligence to social media and software, this city is prime territory for the new wave of tech. In other words, it just might be the next Mountainview or San Francisco.
Depending on where you currently live and which industry is an interest or passion, one of these 12 cities might be your next smart move. Investing in a growing city for entrepreneurship is highly recommended, especially for those starting out or starting fresh. For all other questions or concerns, a business broker can guide you along the way. Contact your local Transworld Business Advisors office today for a free consultation!