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April 2019

Where Should You Establish Your Startup?

Where Should You Establish Your Startup?

Establishing a startup is both a huge risk and the ultimate reward. After all, selecting the perfect location on top of performing an HR executive search can seem like an impossible task to accomplish. When you want to give your startup a fighting chance amidst the sea of burgeoning companies, looking outside of the box can be your best option.

While it might seem obvious to establish your company in a hub for technology like Silicon Valley or New York City, there are plenty of up-and-coming locations that are starting to compete for the top spot.

If you're struggling to think of the perfect location to start your new business, consider these tips to make that final decision.

Follow the Millennials

Known as the job-hopping generation, nearly six out of 10 Millennials are open to starting a new job at any given time. On top of that, more and more Millennials have started flocking to certain job hubs in order to make a liveable wage. While you might think that these potential recruits are bustling to Boston or sliding into Silicon Valley, more would-be employees are actually moving to less-populated cities.

In fact, almost 80% of Millennial growth has occurred in the suburbs since 2010, not urban dwellings as previously expected. High prices associated with dense city populations have made these locations, like New York City, a temporary home for Millennials on their path to success, not an end-goal.

Top metropolitan locations for young professionals in 2019 include Houston, Charlotte, Phoenix, and Kansas City. But Millennials haven't shirked pricier locations like Seattle and Portland, either. If you're thinking about establishing a business in a new location, consider following the job-seekers.

Look at your own backyard

While it might be tempting to establish a new business in a new location, no one knows your town better than you do. This includes population density, market preferences, popular fads, and more. If you're thinking about a new startup, there's no place like home. You can also use this home-grown aspect of your business as a front runner in your marketing campaign. After all, everyone loves a local business.

It can also save you a fortune on moving expenses. Use that extra cash to invest in a career placement agency with experience in HR executive search options.

Trust your gut

Establishing a business in a new location isn't just for the well-being of your company: it's also for you. You need to ascertain that you love where you're going to live along with your company. If your head can't make the decision, you can always try listening to your heart.

When you're ready to perform your HR executive search, rely on the executive staffing agency you can trust: Frederickson Partners. We're the human resources consultants you need to find the best talent for your company. Learn more by contacting our offices today.