Fort Myers and Altamonte Springs, both in Florida, have recently emerged as hotspots for entrepreneurs planning to establish businesses in smaller U.S. cities. Offering a favorable business climate, affordable costs of living, excellent resources, and a thriving population of young professionals, these cities bring opportunities, such as tax incentives for startups and enriching networking connections.
A comprehensive study examined over 1,300 lesser-known U.S. cities, utilizing a variety of metrics to gauge each city’s entrepreneurial potential. Factors such as cost of living, availability of resources, local business friendliness, community support, geographical location, and existing competition were considered. The findings showcased the unique advantages that these smaller cities could provide to budding enterprises.
In particular, Fort Myers has seen a remarkable 21% growth in small businesses between 2015 and 2021. Its low-cost office spaces and wealth of investors per capita make it especially attractive to startups. Entrepreneurs are also drawn to its robust economy, beautiful beaches, vibrant nightlife, and active tech scene.
Emerging startup hot-spots in Florida’s small cities
Furthermore, the city hosts several business accelerators and incubators that support early-stage startups.
However, running a business in smaller cities may present some challenges. These include difficulties in appealing to a diverse customer base, building a professional network, and attracting high-quality talent due to the city’s size. Despite these potential hurdles, the intimate scale of small cities allows for more personalized customer interactions. Moreover, smaller populations could enable businesses to understand their market demographic better.
Cedar City earned the title of the best small city for startups, with an impressive 33% growth in small businesses from 2015 to 2021. Attributes like a short average commute time, robust employment growth, a strong labor force, and a thriving arts and culture scene make it an appealing choice. The city also offers several funding opportunities and incentives for startups and boasts a supportive community and government programs that encourage business growth. Cedar City combines small-town charm with a business-friendly environment, making it ideal for new businesses.
