Not all businesses have the chance to decide where they should found their company, but it is generally agreed that some areas are more supportive than others for businesses. If you could start your business anywhere, which cities would be best for you?
While the World Economic Forum didn't specify their preferred cities in New Zealand, they listed the country as one of the best for business in several categories for 2017.
New Zealand was ranked as having the best economy in which to start a business in the coming year, and also got top marks for the ease of starting a business in the country. Hopeful entrepreneurs can often start a business in the country within a single day.
For the first time, Sweden topped the Forbes list of the best cities in the world to do business in 2017. With a rapidly growing economy and low public debt, the country is home to some of the most well-known brands in the world.
This includes Volvo, H&M, Skype, among others. With such a strong economy and so much government support, companies that open in Sweden often have the tools they need to do well over the long term.
Salt Lake City, Utah
While Silicon Valley may be the most familiar entrepreneurial hotspot in the United States, Salt Lake City is working hard to give the Palo Alto area a run for its money. With a number of angel investors, a much more business-friendly climate, and an increasing number of tech startups, the Utah city is getting a reputation as a tech hub.
CNBC listed Salt Lake on its top 20 cities to start a business, noting the city's unemployment rate of less than four percent at the time.
There are many reasons why employees and employers alike love Vancouver. From the diverse urban setting to the beautiful natural landscape, the city is a gorgeous place to be. Employees love the area, which means that talent pools are deep and diverse.
The city is also considered the gateway to Asia Pacific, meaning that companies there have dynamic connections to foreign markets. Vancouver also offers easy access to the United States, giving the city a variety of trade options. The city's climate is mild, and more than 6 million tourists visit the city each year.
With a population of more than two million, a vibrant music scene, and a busy tech industry, Austin regularly turns up on lists of great places to start tech related businesses. With the University of Texas located right in town, there's a young and enthusiastic workforce available, and the economic climate is considered very friendly to small businesses.
The state also does not have individual or corporate income taxes, which makes it easier to survive those first few years. Office rents are increasing in Austin, which is something potential CEOs should consider when deciding whether or not to make an investment in the area.
When looking specifically at business climates in the United States, Forbes gave the number one place to Denver. The city's location is relatively central to the American West, making it a convenient distribution hub.
It also already supports a number of growing industries in the technology and telecommunication fields. Mining and energy operations are already common in Denver and are continuing to grow.
While many big startups are tech based, Portland, Oregon, has made a name for itself with companies that trend in the other direction. Micro-distilleries, micro-breweries, and a passion for green cities has put this area on the business culture map.
While the most cutting edge tech businesses might be located in the south and the west, as well as the classic San Francisco Bay area, green businesses thrive in the Pacific Northwest.
Wherever You Are Right Now
With Internet access slowly stretching to reach every Main Street in the United States, hopeful entrepreneurs have less need than ever to move to a big city in order to make their mark. Companies can be, and are, founded in living rooms, garages, and offices all around the country and the world.
Wherever someone has an Internet connection and a laptop, they have access to the vast majority of tools that they need to get their business idea up and running. From freelancing to crowd-funding technology to creating an influencer presence based on a personal brand, many business ideas can absolutely be implemented from the comfort of your own home.
No matter where you want to go to start your business, it's important to do your research. Be sure that you understand local regulations and restrictions on working, as well as what sort of permits you might need and regulations you will need to conform to, before you pull up stakes and relocate.
What area would you recommend to someone considering starting a brand new business?