If you’re looking to start or acquire a business in Raleigh, North Carolina, the metropolitan city also known as the “City of the Oaks,” you have chosen the perfect time. The Research Triangle consisting of Raleigh, Durham and Chapel Hill is a breeding ground for young entrepreneurs and established business owners. This is mainly because of the vast amount of Universities within the area, as well as the considerable influence of technology and research.
Raleigh is growing at a vast pace and continues to name itself as one of the fastest growing cities in North Carolina. Raleigh’s population will continue to skyrocket along with industry expansion. Below are four aspects that make Raleigh, NC the perfect place to start a business.
Influence of Young Entrepreneurs
The amount of top Universities in Raleigh influences the amount of startup companies owned by millennials.The Triangle Area consists of three of the most renowned Universities in the United States – Duke University, The University of Chapel Hill and North Carolina State University.
Raleigh is a city of entrepreneurs, especially within the engineering, life science, and technology industries. The triangle has always been an attractive place for innovators, and the students graduating from these established schools are positioned for success. For students graduating with degrees in Engineering, Science, Technology, and Mathematics, job possibilities are endless. Startup companies within these fields are projected to do well as market trends continue to prosper.
Advancement in Technology
Startup companies are becoming increasingly popular as the technology movement makes way through the Raleigh area. Raleigh is said to be the Silicon Valley of the East Coast, because of its education in technology as well as a large amount of established IT and research companies within the area. Raleigh is home to one of the largest research parks in the United States and is a dominant center in the country for biotech and high-tech research companies.
The IT sector is major within the Triangle area and will continue to expand further as technology continues to advance – creating more jobs and opportunities for aspiring business owners.
Importance of Sustainability
Raleigh has implemented a strategy that not only benefits citizens that live there, it also affects the job market and how entrepreneurs are doing business. Sustainability and the importance of protecting the environment is the foundation of Raleigh’s successful economy. Recycled materials and resources are used to create office buildings and other structures. Solar powered energy, recycled materials, and resources, as well as increased stations for eco-friendly cars, result in the increase of green jobs.
Diversity and Culture
The Raleigh-Durham area consists of over one million residents, all of whom are from diverse backgrounds and cultures. Individuals from all walks of life play a part in the creation and establishment of new businesses throughout the Triangle area. New restaurants, festivals and other cultural places of business continue to prosper and create jobs for individuals. The importance of diversity in the Research Triangle influences the amount of business owners deciding to move to the area.
If you’re thinking about starting or acquiring a business in Raleigh, NC, now is the perfect time. If you’re leaning towards buying or acquiring, make sure you talk with a Professional Raleigh Based Business Broker. They can provide insight into the best types of businesses, locations and what to look for.