Washington DC: Still A Great Place for Small Businesses?
By POSTED JODY MICHAEL and Community Contributor
Jun 12, 2019 | 10:46 PM
If you are a budding entrepreneur, then Washington DC might just be the place that you want to be to help your business succeed. There is a growing entrepreneurial spirit in DC, plus being close to the White House makes it an ideal area to meet other entrepreneurs and new start-ups and collaboration opportunities.
With an interesting variety of people and opportunities, DC has become a melting pot of ideas and inspiration for entrepreneurs to bring their business dreams to life. Let's take a closer look at some of the reasons why:
A Motivating Crossroads
Washington DC is an incredible place to network with other people in all industries. This makes it the perfect place to get help to grow your business to a point where it can thrive and be successful.
Since DC is somewhat of a crossroads where everything meets from politics, entertainments and sports to culture, technology and nonprofits, it makes for a great entrepreneurial playground.
Although it may still feel like a small town, DC is a densely populated area of some exceptionally motivated, innovative and intelligent people who are a great driving force behind up-and-coming entrepreneurs.
A Diverse Population
No matter where you find yourself within Washington DC, whether it be a restaurant, the gym, a theatre or a sports game, you are bound to meet intelligent and well-educated people from various walks of life.
The population of DC has become so diverse with government employees, college students, business executives, veterans, non-profits workers and DC natives. This group of ambitious people is a great source of advice for budding entrepreneurs.
What's more, is that if you're looking to grow a team, you will have a great selection of professionals from which to choose.
A Place to Network Easily
Given that there are a number of colleges with studies anxious to showcase their knowledge and skills, Washington DC is a great place for a start-up entrepreneur to build the foundations of their business.
Colleges often hold events and conferences where entrepreneurs can network with others in their industry and meet college students who are earning their qualifications in your industry, plus industries that can support you, like marketing and journalism in particular.
Teaming up with students can help you get a lot of free work in the marketing, photography and admin departments, to name a few.
Transport, Communications and Connections
Having begun the transformation into a smart city in 2017, DC is now boasting incredible transport, state-of-the-art healthcare, top-notch urban planning and innovation infrastructure with more improvements to come.
Additionally, the direct mail services in Washington DC make connecting with potential customers and collaborators much simpler and with greater impact. Being able to connect with your audience easily is one of the most if not the most important thing that entrepreneurs need for their start-up to succeed.
Income, Taxes and Locations
With the greater population density and great education standards in Washington DC, there is no surprise that people tend to earn higher average incomes (
) compared to the national average ($59,000 per annum).
This increases the available traffic to your business and greatly increases the chances of other people supporting your business. What's more, DC offers tax credits for start-up businesses, which helps out with a range of benefits.
With such a dense population, it is surprising that leased locations are particularly easy to find in good areas at affordable rates.
Given the stellar economic standard of the region, it's clear why so many qualified and intelligent people are flocking to DC. All of these factors have attracted some of the USA's finest budding entrepreneurs to DC.
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