Arlington, Virginia: The Place to Be for Young Entrepreneurs
December 17, 2014
We’re living in a time when many young individuals are venturing out and starting different types of businesses. A study conducted by the U.S. Chamber of Commerce Foundation showed that there were about 160,000 start-up businesses launched by Millennials in 2011. About 29% of these entrepreneurs were in their 20s and mid-30s.
In another study conducted by NerdWallet, the team set out to identify the best cities for these young business owners. Topping this list is Arlington, Virginia. Here’s why:
Arlington has a huge population of young and well-educated individuals.
About 74% of residents who are in their mid-20s have a bachelor’s degree. Some even hold a master’s degree or higher. In addition, about 28% of the city’s population is between 25 and 34 years old. These statistics are the highest in the country.
The city also has a strong economy, thanks to businesses in thriving neighborhoods, such as Ballston. This is evident with its impressive per capita income and low unemployment rate. Furthermore, you’ll find many office centers providing office space in Arlington for start-ups and other types of businesses.
Arlington has a capital area advantage.
One of the key findings of NerdWallet’s research is that Arlington has a capital area advantage, which made it the best city for young entrepreneurs. According to the research, the city has the highest per capita income across the country. Easy access to Washington DC’s business districts is also an advantage for Arlington entrepreneurs.
Arlington has YEA! to teach children in middle school and high school.
Another reason Arlington is a good place for budding entrepreneurs is that the city has an innovative program to support them. The Young Entrepreneurs Academy, or YEA!, teaches children as young as middle schoolers to start and manage real businesses. With YEA!, students learn to brainstorm ideas, develop business plans, and interact with business professionals. They also learn effective ways to pitch their plans to potential investors and acquire funding.
Starting a business is fun and exciting. If you have a brilliant idea and you want to turn it into reality, be careful in choosing a location for your new venture. Where you locate can make a big difference in the success of your company. For great opportunities, think about setting up a business in Arlington or its surrounding communities, such as Ballston.
If you need Arlington office space, consult us at Metro Offices. We offer a range of office space solutions that meet the needs of different businesses. Our office center in Ballston can accommodate businesses of any size. Furthermore, it comes with innovative features to support a virtual staff and a mobile workforce. Call us or fill out our contact form for more details.