Stumble it!

Perhaps the most daunting experience any American can endure is entrepreneurship. It is daunting because of both self doubt and uncertainty. We are all well aware of the short life expectancy of small businesses in the American market. Nevertheless, becoming self employed holds many advantages and rewards that often make the short and long term financial and social risks acceptable. While there are many interwoven headaches and responsibilities for the average small business owner, geographical location ranks near the top. Currently in the United States, the strongest small business region is Miami-Fort Lauderdale. Economists reason that Miami has attracted business because of its growing population, tourism and pleasant weather conditions. American business leaders actually site tourism as the strongest indicator of a local economy. Small business has traditionally performed well in congested tourism destinations. If you find yourself skeptical of this statement, compare Miami to Detroit. Detroit has a shrinking population, poor weather and is largely devoid of tourism. Detroit also happens to be one of the most difficult regions in America to start a small business. (Memphis carries the unwanted title) Florida is doing so surprisingly well economically; its residents are enjoying a dramatic economic boom, while most of the country is starting to feel the pinch of recession. Another American hotbed for small business is Las Vegas. The city of sin was first in the country for newly registered small businesses. To hammer home the Miami example, let’s put Vegas through the test. Does Las Vegas have good climate conditions? Some Americas may claim it’s too hot, but please go ahead and ask any New Yorker where they would rather spend the winter. Las Vegas is obviously a national hotbed for both international and domestic travelers. What about population? Las Vegas has the highest population growth in the country for large metropolitan areas. Keep in mind however; there are strong economies with out the above mentioned criteria. Seattle contains a robust economy and has attracted many educated and talented Americans. Seattle’s economy is geared towards big business for the most part and many Satellites can be found working at Microsoft and Boeing. The geographical economy is paramount when opening a small business and it would be wise for potential entrepreneurs to do their due diligence.