Location is everything when it comes to building a successful company. You need a city that will give you the room to grow and the supportive environment you need to profit. Out of all of the places in the U.S., Philadelphia stands out as a haven for American entrepreneurs. You may launch your startup and watch it grow well into the future when you take advantage of these five notable Philadelphia entrepreneurial perks.
Ideal Location
Philadelphia has one of the best locations when it comes to starting a business. Situated close to both New York and Washington D.C., it draws people from all over the Eastern Seaboard who look for unique products and services. When location is one of your foremost concerns, you can put that issue to rest when you consider the geographical advantage that Philadelphia can offer you.
Affordability
During your company's earliest days, you understandably need to keep as much money as possible in your cash flow. When you want to make rather than break bank, you will meet this goal by setting up shop in Philadelphia.
Philadelphia has an affordable way of life that includes low rent, cheap self-storage, ample free space, and walkability that saves you from having to spend money on transportation services. By saving money on housing, transportation, Philadelphia storage units, and other necessities, you can enjoy having more cash to put back into your business.
Talent
With its proximity to schools like the University of Pennsylvania, Princeton, and Yale, Philadelphia never lacks for talent that any upstart business needs to grow and prosper. New graduates that come to the city bring with them an eagerness to work and fresh knowledge of the market that can benefit you as a business owner.
The influx of new talent every spring and fall counts as a primary reason for why Philadelphia is such a popular place to start a new company. When you want to harness the promise and skill of college graduates fresh from the university, this city is the right place for you and your startup.
Economic Incentives
Philadelphia government leaders recognize a good thing when they see it, which is they routinely extend economic courtesies to entrepreneurs who come to the city to start businesses. One of the more notable courtesies, the Keystone Innovative Zone credit, allows up to $25 million to eligible startups that establish roots in the city.
What entrepreneur could not stand to benefit from tax breaks during his or her first years as a business owner? When you want the relief of a lowered tax burden while building your company, you will find that place of respite by moving to Philadelphia.
Close Knit Entrepreneurial Community
When you move to Philadelphia to set up shop, you will be in the good company of your fellow entrepreneurs. Fledgling business owners are known to network closely with each other and build those important relationships that allow for mutual growth and prosperity. If fellowship and networking with other business owners are important to you, you may find that supportive environment in this city.
Entrepreneurial Success Exemplified
The advantages of networking and a supportive environment can be found when you consider Comcast, one of the city's most successful global companies. Comcast began as an innocuous startup, but grew into a global enterprise because of the advantages that lie in wait for Philadelphia entrepreneurs.
It made use of the geographical location, extensive talent, and economic incentives to transform itself into a leader in the communication and entertainment industries. It now is listed regularly as one of the top Fortune 500 companies in the world.
Philadelphia has it all for entrepreneurs looking for success. You can build a successful business yourself by seizing the five unique advantages that await startups and their owners today.
