Jul 16, 2017 Written by Mellissah Smith
People are in search for the next best place to start their business, the next city to be crowned the title of “the next Silicon Valley.” In the coming years, there has been one consistently outstanding city that has been displaying strong entrepreneurial and technological growth that has the potential to become the next tech hub – and that city is Dallas.
Located in northern Texas, Dallas is the largest southern city in the United States. It has been titled America’s friendliest city for business by Market Watch and one of the fastest growing start-up scenes by Business Insider. There are many reasons as to why you should start up your business in Dallas, but let me tell you the top three reasons that make me believe that it would be the best place for you and your business idea.
1. Strong Economic Growth
Dallas is one of the fastest growing start-up hubs with a staggering 18.83% growth rate and 37.09% deals growth. This is due to its relatively low average real estate price allowing you to rent or buy a cheaper yet convenient office location; high employment rate with over 3.5 million jobs available and a growing population of talent to hire from; above average salary that lowers the cost of living and geographical accessibility with its network of highway systems and international airport. With these “cheaper” resources and access to travel allows you as the business owner to fork out less money to hire your own personal talented team in a comfy city office. It is no wonder Dallas is booming in this start up scene.
2. Community of talent and expertise
Did you know that Dallas is home to almost two dozen Fortune 500 companies? Well now you do! There are a high number of existing high profile technology companies here such as Texas instruments, AT&T and ExxonMobil. But what does this actually mean for you? Well, with Dallas being the growing start-up capital, it has also been expanding its community of talent, innovation and expertise. Relationships between small and big firms can be easily formed through a intermediary called the “Corporate Innovation Network” created by Tech Wildcatters. This is something unique to Dallas and is facilitating supportive B2B relationships, mentorships and potential partnerships.
3. Ideas always become reality here
Dallas is one of the few cities that have a business inventive program that actually supports you. The city also has relatively low tax rates and fewer regulatory boundaries (think permit costs and hiring regulations). Texas spends about $19.1 billion per year on these incentive programs, which is 18 times higher than the country’s average of $1.66 billion. From property tax abatement, corporate income tax credits, rebates, reduction to other business-friendly services – Dallas is the place where you will have more money to do you and less about setting up.
- Katrina Huynh
Mellissah Smith
Mellissah Smith is a leading marketing expert having pioneered two specialist marketing firms into operations all over the world.
With 20 years experience, Mellissah has worked with over 200 companies, emerging and large multinational, on developing and executing strategic marketing campaigns.
From developing strategic marketing plans to re-inventing old brands in a changing market place, Mellissah has creative flair, business acumen and a knowledge of all aspects of marketing. She has also worked extensively in marketing and communications for companies listing on the ASX in both the small cap and large corporate arenas.
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