Is Minneapolis a Good Place to Start a Business?
If you’re an entrepreneur who has just moved to Minneapolis, you might be wondering whether it’s a good place to start a business.
It’s always an idea to gauge the current job market and discover where there are potential gaps that you could fill with a future business. By looking at the job market in Minneapolis before your move, you can figure out which business might be the best option.
There’s a thriving market for almost any industry, from fashion to fitness. The residents are keen on supporting local businesses so you can rest assured that you will be backed from day one.
There are over 30 million small businesses currently operating in the city of Minneapolis and more entrepreneurs are creating new start-ups every year. So, why not join these inspiring entrepreneurs?
The question on your mind is probably, is Minneapolis actually a good place to start a business?
Should You Start a Business in Minneapolis?
The Northern city of Minneapolis, Minnesota, is ranked highly on the list of the best cities to start a business in the United States. It is well-known for its thriving corporate climate. It’s also home to the largest shopping mall in the country.
Minneapolis is also a great city for small businesses, making it perfect for entrepreneurs like you! No matter what industry you plan on entering, the opportunities are ample.
Minneapolis has a fine balance of both urban and countryside scenery. It is full of local, family-owned restaurants, cafes, and breweries, but is also home to a number of outdoor businesses. For example, if you’re planning on setting up a hiking business or a retail store that sells outdoor equipment, there’s definitely a market for you.
Where Does Minneapolis Rank Compared to Other States?
Minneapolis ranks number 21 on the list of the best cities for start-up businesses. Although it doesn’t rank as the number 1 city on the list, it’s well within the top 50.
The unemployment rate in the city is low at just 1.5%, and the cost of living is affordable. This enables you to save money while building your business empire.
It’s Time to Create Your New Business!
If you’re not yet convinced to set up your new business in Minneapolis, then we don’t know what else you need to hear! Minneapolis ranks in the top 50 cities for start-ups in the whole country and you are almost guaranteed success if you decide to enter into business in the area.
Be sure to learn about the Minneapolis employment law if you make the decision to start a business in the city. Even if you are already operating in other states or cities in the country, the rules and legislation around employment and labor will be different.
There’s plenty of information online but if you would like professional advice about employment laws, get in touch with an employment attorney. They are experts in this area of the law and will ensure you aren’t breaking any employment laws in your new business.
