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In the modern world, creating a startup means covering the basic requirements in the best possible way. Out of these requirements, one of the most important ones is the physical location where the startup venture is based. While some might be tempted to think that this does not hold that big of an importance in the contemporary business environment where everything is online and globally-oriented, the HQ of a startup is still tremendously relevant for several reasons.
These include the overall economic and business climate in a region, access to needed elements like labor and infrastructure, but also local government programs that help the startup community. In the US, one of the most desirable locations for a startup is San Francisco, California. In this colorful city, many billion-dollar companies are currently located and many additional ones are working hard on their big breakthrough. Here are the key facts about the topic of general startup environment - San Francisco.
San Francisco, also known as the City by the Bay, is a cultural, financial and commercial center of Northern California. Located on the San Francisco Peninsula, the city covers a small area and has a high population density being that it currently has over 860,000 inhabitants. But, it is also a part of the larger area that covers the so-called San Francisco Bay Area, where almost 9 million people live. The financial outlook of the city is also solid, with a diverse economy and a strong growth potential. Because of this, when the city's demographics and the local economy are assessed, San Francisco has a great balance of being a metropolis which is still very manageable when it comes to commuting and other day-to-day activities.
When it comes to the actual startup scene, only New York can be compared to San Francisco. With the Silicon Valley being in the same state, this city managed to catch the IT wave right at the beginning. Today, this means that a huge number of internet companies are working there and this results in an incredible offering of accessible employees. It does not matter if the startup is looking for seasoned IT managers or fresh college graduates with bold ideas – this city has it all. The same is true for things like mentorship and networking, which are also very developed in the city. With this, any startup can quickly find both employees and advisors in the area.
With this strong of a startup scene, the city leadership a long time ago recognized that the industry needs to be supported by the local government itself. That is why today businesses that make less than one million US dollars in gross receipts can be exempt from paying certain taxes. Additional government programs favorite specialized fields like biotech and public heath companies with similar benefits. These alone can help a startup survive the initial period before they can attain funding or begin to generate profits from the same venture. Because of these facts, it is clear that San Francisco is an excellent location for a booming startup. Here, any new business venture has a great shot at taking its place among the legendary companies which also had their humble beginning in the same fantastic city.
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