California has an ecosystem like no other city or state on earth!
It has numerous sandy beaches and beautiful mountains within its boundaries, not to mention some of the finest technology companies and top schools in the world.
This means that starting a business is California not only gives you an opportunity to experience natural scenic beauty but also, promises of abundant economic growth.
If you are still not convinced, let me give you 7 more reasons to start a business in California.
1. California is a booming economy
California is America’s biggest economic powerhouse and ranks 5th in the world.
Apart from being home to a gigantic technology and entertainment industry, California contributes to 13% of total agricultural cash receipts in the U.S.
All this enormous wealth means that small businesses have an ample amount of opportunities to sell their products and services to the rich people of the state.
2. Sea of networking opportunities
Being surrounded by talented, smart, goal-oriented people means you will have no issues finding valuable business associates.
Moreover, California is a place with plenty of large trade shows and conferences, such as Dreamforce and Oracle OpenWorld take place.
These attract thousands of people from all over the world, offering you the opportunity to expand your network.
3. Top tourist destination
Who doesn’t love California? From the sandy beaches, Disneyland to Hollywood, there is something here for everyone.
If you consider the number of tourists visiting the state each year (on average 30 million) who are ready to spend money, you can do really well if you choose to set up shop in this popular state.
4. Great environment for new businesses
Setting up a new business in California makes a lot of sense because you have a wonderful support structure when it comes to USC’s and UCLA’s world-class entrepreneurial training programs.
In addition, you can benefit from their small business development centers which can help your business grow healthily in the long term.
5. Investors and government help
California is filled with intelligent people who are willing to invest in promising ideas.
So if you have an idea that can make a lot of money, finding an investor in California is easy.
The government also helps new businesses with incentives that can help you start your small business quickly.
If you are interested in starting a business in California, I would recommend you to check out top investment banks, small business grants and other seeding options for small businesses offered by the state.
This would be a great time to contact a local marketing company who can help you find available business names and start branding your future business.
6. Numerous industries
If you are wondering why California’s economy is doing better and better every year, don’t rack your brain, the answer is simple: California supports all businesses.
The various industries that are part of all economic sectors contribute to the state’s 3% GDP growth.
With nearly 40 million people, our Golden State is full of wealthy people who are ready to offer support in many different industries.