Home to major companies like Coca-Cola and Delta Air Lines, it’s also the best place to start your own business, according to New LinkedIn data.
Atlanta is recognized as the No. 1 metropolitan area in the United States with the fastest year-over-year growth, at 92%, in the number of people starting their own companies, according to the job search site.
The Atlanta metro area is growing at an “amazing pace” thanks to a strong job recovery since the pandemic. Fox 5 Atlanta reports. It’s also been recognized as the top place for young professionals to start their careers, according to a report from Wallethub, based on metrics like job availability, average starting salary, unemployment rate, average annual income, and housing and household affordability. Friendliness.
Also in the South, No. 2 Austin saw an entrepreneurship boom during the pandemic as people fled expensive cities like San Francisco and New York, due to the city’s warm weather, lower cost of living and lack of state income tax. Last year, it saw an 84% increase in the number of residents who became founders.
Seattle rounds out the top three, with 75% year-over-year growth in its founder community. City Huge technology landscape It may be fertile ground for entrepreneurs to launch their startups.
Here are the top 10 metro areas seeing the fastest growth in the number of people starting their own businesses, according to LinkedIn:
- Austin, Texas
- San Francisco
- Miami-Fort Lauderdale
- New York City
- Los Angeles
Both Atlanta and Austin are seeing a lot of in-migration, says George Anders, LinkedIn’s senior editor at large, “as people in all types of professions decide that these are top-tier destinations in terms of finding success in their careers, families, and work-life prospects.” “
Some newcomers may become entrepreneurs themselves, while existing residents may also see new people as potential clients. “They don’t have favorite restaurants or stores yet, so they’re more willing to try your restaurants or stores,” Anders says.
“They also need help buying homes, choosing schools, finding contractors and more,” he adds. “This translates into a very promising customer base that new entrepreneurs can tap into.”
Elsewhere in the country, Silicon Valley’s sole representative – San Francisco – comes in fourth.
“Although the San Francisco Bay Areas remain one of the world’s leading places for technology startups, it is possible or even likely that small businesses will not be opening on Main Street at a nation-leading pace,” says Anders.
Other expensive cities like New York City and Los Angeles round out the top 10, but they are outnumbered by lower cost-of-living areas like Chicago and Miami.
Across the United States, nearly 1 in 5 adults are in the process of starting a business or have done so in the past 3½ years, according to the Global Entrepreneurship Monitor and The Washington Post reported.
Entrepreneurship is at its highest levels since the survey began in 1999, and comes on the heels of early expectations that job losses due to the coronavirus may push more people to become self-reliant.
Several years later, “We’re seeing an upward trend in entrepreneurship that has continued through the pandemic, and that’s a really great sign,” Donna Kelly, a professor at Babson College and lead author of the report, said. He told the Washington Post. “This means that companies provide innovation, create jobs, and contribute to U.S. competitiveness.”
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