Business is dynamic no matter where you’re based. Each place has its own regulations, rent, and target markets. Whether you want to open a café or a small tech start-up, there are plenty of factors that go into opening and running a successful business. Even still, there are some metropolises that offer the right context, space, and location for specific businesses.
Every city has its own flavor and personality. It has its own economy. Below are five cities around the world where you should start your small business and why.
New York City
Let’s get the obvious out of the way. Whether you are opening a boutique coffee shop or are starting a venture capital firm, New York City is always ripe for business. Money flows around NYC like no other place. People love their food and drink. They like fine clothing, music, and the arts. New York is a place to go to follow your dreams, and if your dream is opening a specific kind of business, it might just be the place for you.
Of course, New York is specific. You won’t last long with a bad idea or an inadequate amount of money to get started. However, if you know what you are doing and follow an intelligent business model, New York could just put you on top.
London, like New York, is an epicenter of business. Whether it’s a pub, a technology company, finance, or a clothing store, London is the place to go to make your ideas a reality. It is a sprawling city with millions of people. There is no shortage of demographics, income levels, and interests in London. The arts are appreciated. Good food is valued. Fashion is everywhere. Hotels in London are world-class.
If you have a business, you’re trying to start that will focus on something high-end, London will surely appreciate it. If you live in the United States, it will be a big life move but it could really pay off if your business will succeed in London.
Like London, Los Angeles is sprawling. There are so many neighborhoods it can be difficult to know exactly where to go to start your business. However, with so many options you can find the perfect spot for your boutique coffee shop, taco truck, or cocktail bar. Los Angeles has everything. While this is a benefit to small businesses, the competition is fierce. The rent is high. The cost of living is sometimes unreasonable.
Still, if you have the right business idea for Los Angeles, you could find success. There is money in LA, and if you find the right customers you could be making some yourself.
While Tokyo may feel completely out of reach, it is a great place for business. Tokyo is known for technology, innovation, and invention. If you have a start-up that could fit into the inventive spirit of Japan, you might want to think about trying Tokyo as your home base.
It’s a huge leap for anyone from the west, but if you take a dive in with good faith, you just may find that business is booming in Tokyo. You might have a hard time with a brick-and-mortar business—don’t try to make Japanese food—but if you have an idea, you think the Japanese will love, why not give it a shot?
Like Tokyo, Hong Kong is a center of business. Between technology, finance, and the growing hospitality business, Hong Kong could be the right place to start your business. If you are making something the Chinese—and Hong Kongers in particular—will connect with, the market is huge. Whether you’ve been to Hong Kong before or will go for the first time, this magnificent city is a booming metropolis with hard-working people.
Starting a business is never easy. Relocating is difficult too. However, if you have the right idea for the right place, taking the plunge and starting your business in one of these cities just may lead to untold success. Whether you are opening a café in London or a tech start-up in Tokyo, there are many ways to cultivate success in business—wherever you are.