How to Attract Startup Companies in Your City

city skyline

The way that startups establish themselves is changing. And that’s mostly due to location. These days, it’s far too expensive to begin a startup in some place like Los Angeles, New York City, or San Francisco. There’s space to consider on top of employees’ salaries and costs. And it’s too much to bear. And that means relocating to someplace that’s more affordable – which opens up the potential for a new startup in your city.

Hot places like Atlanta, Denver, and even Austin are quickly becoming the home for new startups. And there are many reasons for that – tax breaks, location, potential new business, worthwhile local deals and so much more. But to really get an idea of what it takes to attract a new startup in your city, you need to understand what the biggest factors are.

That’s where we’re here to help. With these three helpful tools, you’ll get a better idea of why more companies should leave California or New York and come to your state with their startup. Don’t get too attractive, but don’t be afraid to offer some nice bonuses. After all, who wouldn’t want to create a new startup in your city?

Show Off What Makes Your City Great

The first step in attracting a new startup in your city is showing what makes it worthwhile to those running it. That means inviting them down – possibly on your dime if you’re serious enough – and showing them what makes it such a solid choice.

Of course, if you want to take the “touristy” route, you can, with highlights like the nightlife in certain areas or the young market coming out of business school. But when it comes down to brass tacks, you want to show what makes your city worthwhile as a whole. A neat restaurant can only do so much convincing, after all. This is about presenting the total package.

So do different things each day to show off aspects of the city. The tourist side is nice, too, but don’t be afraid to show off the business side as well. Show what makes the community stand out over others. The first step to attracting potential business suitors is showing off why it would make perfect sense to have it there. Anyone can present something, but you want to make them feel welcome. So do that!

Tax Breaks Are Nice but Get Some Officials Involved with the New Startup in Your City

Of course, a lot of potential businesses look for tax breaks. Of course they do. When developing a new startup in your city, you want to make sure you offer any kind of break you can. That means much more affordable rent than you’d find in, say, San Francisco. That’s a really attractive factor.

That means also listing the best kind of tax breaks and assets that can come from setting up the new startup in your city. But maybe get a little more involved than that. Along with any presentation that you make, see if you can get top officials to sign off as well. That means getting the Mayor of the city to talk about its assets, or maybe even someone higher than that if they aren’t too busy. Remember, a key business makes them look good as well, especially in a supportive state.

It could take some deep negotiation on your end. But with the right people behind the pitch, you can get the new startup in your city without breaking a sweat – and, hopefully, the business accounts.

The Wealth of Customers

Finally, there’s a reason we mentioned that community was so vital in getting that new startup in your city. It’s because that’s a guaranteed customer base right there.

Depending on the nature of the startup, you can show why that business would be so heavily needed in, say, Scottsdale, Arizona than it would in the startup-laden San Francisco. There’d be a need and much more customer demand, and that means more business overall. And, in return, the startup would thrive and do greater things for that community. The word of mouth would easily overflow, and that means a win for all involved.

So, yeah, when it comes to convincing startup backers that you’ve got a key location, it helps to show off the people. A good retirement community, a young and thriving group of people, or even a mix of the two – it makes all the difference when it comes to convincing. They could land you a new startup in your city with little to no problem, provided they can bring the business they need to thrive.

In the end, go all out there. Show why your city matters to this startup. Show the community and the leaders that would benefit from it. Sell yourself, and don’t be cheap about it. Get that new startup in your city!

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