Of the many reasons an entreprenuer might pick a certain city to launch their grand idea, it turns out that it’s the lifestyle factors that play the largest role.
A study by Endeavor Insight called “What Do the Best Entrepreneurs Want In A City?”, based on surveys and interviews with 150 founders of some of the fastest growing companies in the U.S., found some interesting results:
•Entrepreneurs at fast-growing firms usually decide where to live based on personal connections and quality of life factors many years before they start their firms.
•These founders value a pool of talented employees more than any other business-related resource that cities can offer.
•Access to customers and suppliers is the second most valuable business-related resource that cities can provide, according to these entrepreneurs.
•The founders in our study rarely cite low tax rates or business-friendly regulations as reasons for starting a business in a specific city.