For startups coming to the Midwest to establish their business, Chicago is the perfect city to be based. The windy city blows away other major cities in the region with its diverse business culture making room for startups from all types of industries and backgrounds. Home to a highly-educated workforce and with a reasonable cost of living, Chicago is quickly establishing itself as a startup hub in the Midwest.
As more entrepreneurs and startups have started to realize what Chicago has to offer, the city has opened its arms to embrace these newcomers. The major business districts house some of the best co-working spaces in Chicago, allowing newcomers to the city the opportunity to find a solid base to conduct their business from. These spaces make it easy for entrepreneurs to locate their office right in the centre of the action without having to spend time navigating the commercial real estate market to find a space for their company. This is the perfect way for new businesses to establish themselves in Chicago and get their business off the ground in this thriving business hub.
Let’s take a closer look at just a few reasons that Chicago is winning choice for startups.
Diverse Business Climate
Home to twelve Fortune 500 companies, Chicago is also home to many startups who contribute to the city’s diverse business climate. Local businesses have reinvested some of their money back into the business community helping to ignite the city’s startup scene and make it an attractive option for newcomers to the city. No matter what kind of business you are in, you will find your place in Chicago. From aviation giants, Boeing to tech companies like Motorola and a bunch of tech startups, the city has something to offer businesses from a diverse range of industries.
A Hub In The Midwest
Chicago’s strategic location in the Midwest has also helped to put it on the map as there are many benefits to being located in this part of the country. First of all, the city is well-connected with other major business hubs such as New York and Toronto in Canada. With direct trains to the airport or a quick 30-minute cab ride, the Chicago O’Hare, easily accessible for those needing international connections and is well-connected with all the major cities across the US making business travel a breeze.
Affordable Cost Of Living
The cost of living in Chicago is very reasonable making it an affordable city to live in and to locate your startup. Compared with other business hubs in the country like New York or Silicone Valley, Chicago comes in as a much more affordable alternative. The average monthly rent in the city is $1,691, which when compared with the whopping average rents of $3,217 in Manhattan, it’s an absolute bargain. Everything from employee salaries to office rent is cheaper in Chicago, making it the perfect choice to get your startup off the ground.
Pool Of Talent
Chicago is home to some of the best MBA programs in the entire United States, giving your business access to a pool of highly-educated individuals to hire for your business. The University Of Chicago is home to both the Booth School Of Business and the Polsky Center For Entrepreneurship and Innovation and Northwestern houses the Kellogg School of Management. With so many great schools and programs in the area, your startup will have a huge pool of talented individuals to help bolster your business and move your startup in the right direction.
Consider Chicago For Your Startup
With a strategic location in the Midwest, an affordable cost of living and a pool of talented, motivated graduates to choose from, Chicago is a great choice for startups looking for a base for their business. Due to its diverse business landscape, virtually any business, from any industry, will quickly feel at home here. When you arrive in Chicago, head straight for a premium co-working space and start networking with the local business community. Before you know it, your startup will be on the road to success in this thriving startup hub.