Austin Ranks Amongst Friendliest Cities for Startups
Being the capital of “The Friendly State” sets a standard in people’s mind about the city’s atmosphere. Austin seems to be living up to the perception, according to a new assessment by personal financial site NerdWallet. NerdWallet created a list of Best Cities to Start a Business, in which Austin ranked in the top 10. Some of the factors that went into the assessment include access to funding, human capital, local economy, business-friendliness and affordability.
In a report about the results, Austin is attractive to small business owners because of a variety of factors. It’s home to a rapidly growing and well-educated population, has a low unemployment rate and the cost of living received an “A+” on the Survey of Small Business Friendliness. The lack of a corporate tax was another benefit to Texas businesses. To help new business owners, the Austin’s Small Business Development Program is available to help local business through various tools and resources to help at various levels of business development. Another great organizational resource is the Austin Technology Incubator at the University of Texas at Austin, which has helped local startups for 25 years.