Though Nashville is known as Music City, there is much more to it than an amazing music scene. Back in 2015, Nashville made the list of Top US Cities for starting a business, in part because of the city’s relative affordability. This year (2018), Business.org also listed Nashville as one of the top cities to launch or join a startup business.
According to the report, “entrepreneurship is striking a ringing chord in Music City.” And for good reason. In a CNN Money Article the Executive Director of the Nashville Business Incubation Center at Tennessee State University, Angela Jones explained that “there’s no state tax here (Tennessee), and the city offers funding for new businesses.
In addition to this, Nashville is also home to various universities and colleges, meaning that there is a vast talent pool in the city ready to endeavor into the business world. Plus, according to Jones, “many of these graduates are focused on starting their own companies.” This means that there is a natural entrepreneurship hub, buzz, and spirit constantly going on in Nashville.
Also, we cannot forget that Nashville has been characterized for its “southern hospitality”, which means that people are willing to help one another out. Most entrepreneurs need to have a robust network to get their business going and growing; networks can help entrepreneurs raise funds, find strategic partners, and even build a team.
Nashville is a growing city, but even though the city has grown and created a significant amount of jobs over the past two years, it hasn’t lost its “small town” feel, which makes the city highly welcoming and warm. It’s in these environments that entrepreneurs and startups thrive, powered by a sense of collaboration.
Finally, not only are there no state taxes, but also the local government offers funding options and the city now counts with an organized network for local venture capital and mentorship. If you add to this the availability of flexible office space, incubator and accelerator spaces, then it is no wonder that Nashville has become a top choice for entrepreneurs and startups across the US.