Expansion Management

Why Entreprenuers Choose Certain Locations

Feb. 20, 2014

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.

Adrienne Selko

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.

About the Author

Adrienne Selko | Senior Editor

Focus: Workforce, Talent

Follow Me on Twitter: @ASelkoIW

Bio: Adrienne Selko has written about many topics over the 17 years she has been with the publication and currently focuses on workforce development strategies. Previously Adrienne was in corporate communications at a medical manufacturing company as well as a large regional bank. She is the author of Do I Have to Wear Garlic Around My Neck? which made the Cleveland Plain Dealer's best sellers list. She is also a senior editor at Material Handling & Logistics and EHS Today.

Editorial mission statement: Manufacturing is the enviable position of creating products, processes and policies that solve the world’s problems. When the industry stepped up to manufacture what was necessary to combat the pandemic, it revealed its true nature. My goal is to showcase the sector’s ability to address a broad range of workforce issues including technology, training, diversity & inclusion, with a goal of enticing future generations to join this amazing sector.

Why I find manufacturing interesting: On my first day working for a company that made medical equipment such as MRIs, I toured the plant floor. On every wall was a photo of a person, mostly children. I asked my supervisor why this was the case and he said that the work we do at this company has saved these people’s lives. “We never forget how important our work is and everyone’s contribution to that.” From that moment on I was hooked on manufacturing.

I have talked with many people in this field who have transformed their own career development to assist others. For example, companies are hiring those with disabilities, those previously incarcerated and other talent pools that have been underutilized. I have talked with leaders who have brought out the best in their workforce, as well as employees doing their best work while doing good for the world.