By: Dr. Lynn Reaser
We tend to complain a lot about high taxes, housing costs, and government regulation. Yet, Forbes.com just named San Diego as the best place to start a new business. A surprise? Deserving?
A number of factors were involved in the analysis, including the role in high-growth industries, the appearance in various forms of social media, and online reviews. San Diego beat out Denver and Austin, which ranked in second and third place, respectively. California also fared well in the standings of the 50 most populous cities in the United States. Three out of the top twelve areas were in the Golden State (San Francisco and San Jose along with San Diego).
San Diego possesses four key features supporting start-ups, especially in the technology field: innovation, attitude, collaboration, and capital. The region’s strong academic base supports a core of new ideas and entrepreneurs. San Diego has a culture receptive to individuals taking risk and striking out on their own. We have a collaborative climate that encourages networking of all those involved in a particular area. Organizations like CONNECT and CommNexus help take new ventures to success. Finally, venture capital, private equity, foreign investment, and other capital sources seek out the ideas germinating here.
San Diego certainly presents many hurdles, especially as firms attempt to grow, but we have even more pluses.