San Diego can be an excellent hub for starting your business when all the factors have been taken into consideration. It's known to have elements that hinder business growth. Some of these factors may include high taxes, uncertainties which have been created due to deadlock of the budget in the state capital. The city also suffers from an economic recovery which has made it lag from the rest of the nation. However, this should not discourage you from starting or moving your business to San Diego. The following are some of the factors that can encourage you to move your business to San Diego
Large and diverse market
San Diego has an estimated population of 1.5 million people who serve as a potential market for different companies and businesses that have been established in the region. These people can buy goods and services that are being produced in the market. The city also has excellent potential to attract more people who could become new customers for business in the city. Factors that cause the city to attract more visitors include the fun nightlife, cultural venues and proximity to universities and talent to the world that could help your business grow regarding a stronger workforce.
San Diego is well developed when it comes to infrastructure and structure in general. It has been well structured with rail network as well as international airports. This transport system will enable easy transport of goods from and into the city. People will also be able to move into the city to facilitate movement to their work areas. If you are looking to transport your goods out of the city, there are shipping services that will enable you to serve your customers who live outside the city. San Diego is reported to have exported $17 billion worth of good in 2015 alone. The city has also been installed with good communication infrastructure. The Internet is available at subsidized prices to facilitate communication and research. You can visit DigitalExits to know about the service providers that work for you.
Strong and skilled labor force
There are many universities located in San Diego which can provide educational opportunities and development of skills. After finishing universities, students are easily absorbed by companies and small business in the city. It has been reported not to have any talent problem but talent development. There have been a lot of organizations that can offer support to startups, mentorships, and assistance to young entrepreneurs. For instance, Inclusive Growth Initiative has taken part in these programs that have ensured that the city gives birth to a highly trained and knowledgeable individual who can be absorbed or start their business in San Diego and the entire state.
Resources for small business in San Diego
The state is home to 17 development centers that can help you start your business. They will help you develop business plans and understand the different tax systems. These centers are usually free and tend to volunteer.
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In 2016, Renee Wang sold her home in Bejing for $500,000 to fund her company, CastBox. Two months later, she landed her first investment. Just a half hour after hearing her pitch, she was offered one million dollars. By mid-2017, CastBox raised a total of $16 million in funding. CastBox's user numbers at that point? Seven million. Fast forward to today. Renee Wang of CastBox announces a $13.5 million Series B round of financing, bringing her funding total to a tidy $29 million. CastBox is now serving more than 15 million users.