As the world begins to reopen after the pandemic, we find ourselves with increased flexibility in business locale and set up. And Austin is one of the premier cities budding entrepreneurs and veteran business leaders alike are flocking to. In fact, it scored number one in the CNBC Metro 20: America’s Best Places to Start a Business. Thus, the city offers indisputable small business success, quality of life, labor force, diversity, and business costs.
If you want to learn all about starting a business in this central Texas city, we break it down.
Low Cost of Living
Did you know that Austin has one of the highest growth rates amongst North American cities today? Why Austin? Well, to start with, it is incredibly affordable but retains a high standard of living. An affordable city means you’ll save more each month, not to mention cheap labor leaves more money to spend on marketing, growth, scalability, and other critical business issues.
Moving to Austin Provides a Supportive Community
It’s all about the community. Forbes reports that a supportive community provides more than just moral support – the local customers, leaders, and other business owners can significantly impact your bottom line. Other cooperative businesses provide great grounds for cross-promotion and collaboration opportunities, while customers who love to shop and support local businesses will grow your loyal audience base. Following are some of the critical organizations serving entrepreneurs in Austin:
- The City of Austin Small Business Division
- City of Austin Small & Minority Business Resources Department
- Greater Austin Chamber of Commerce
According to the Austin Chamber of Commerce, 43% of the city’s population is in the peak working years of 18 to 44 years of age. A young and fresh crowd of locals imply motivated workers equipped to deal with the modern work environment. However, it also means that they create a thriving culture that sets the city apart. The city’s unofficial motto is ‘Keep Austin Weird.’ The town has a Southern heart and Western spirit – but is also full of Chicano, Silicon Valley, and hipster implant influences. Be sure to check out these famous cultural events in the city:
- Blanton Museum of Art
- LBJ Presidential Library
- Mueller Lake Park
- Austin PRIDE
The excellent quality of life from cultural events impacts the community’s happiness, instilling stellar production rates and a high work ethic – which is critical for every business.
Why Startups and New Businesses Are Moving to Austin
Not only are Austinites great employees, but they are also some of the most educated in the nation. It is the second-best city for college graduates and thus, feeds into a solid and robust talent pool. Following are some of the best schools in the region:
- University of Texas at Austin
- Southwestern University
- Concordia University Texas
- Texas State University
In addition, the growing number of jobs available means that students are pursuing higher education opportunities further.
Moving to Austin Checklist
Now that you know why startups and new businesses are moving to Austin, have you decided that you want to make the move her? Below is a quick rundown of the resources you’ll need to get started.
- Create a stellar site with QUIK Websites + Hosting
- Begin with an online Austin BizAid orientation
- Determine your legal business structure
- File paperwork to the appropriate local and state agencies
- Register and complete federal, state, Austin, and employment tax responsibilities
- Acquire business license and permit
- Look up business employer requirements
- Use a graphic logo design tool to create a memorable and appealing logo
And you’re good to go!
Austin is the ideal place for entrepreneurs to set up their thriving businesses. And if you’ve got a family in tow, the funky, independent, and quirky vibe of this great city will make the new environment a great experience for them too. It’s time to take the plunge and make the move – Austin is waiting for you.
Author Bio: Gloria Martinez – Gloria runs WomenLed.org, which aims to celebrate women’s achievements in the workplace and is dedicated to increasing the number of women-led corporations, organizations, and small businesses by educating others about women-led achievements.