So-called millennials -- those born between 1980 and 2000 -- have taken more than their fair share of economic lumps. Many graduated into the horror-show job market of the Great Recession, plenty of them have eye-watering amounts of student debt, and tech is changing the business landscape around them at a whiplash-inducing pace.
As a group they may be a bit storm tossed and battered, but you have to give them credit. Many are fighting back with creativity and optimism. According to the U.S. Chamber of Commerce more than a quarter of them are self-employed and they're starting businesses at a rate of 160,000 a month.
Where should they base all these startups? After the knocks and bruises of the last recession, young entrepreneurs deserve to start up in cities that give them the best chance of success -- one's with light regulation, reasonable costs, and a good pool of local talent. Home repair startup Thumbtack recently went looking for such places.
As part of their Small Business Friendliness Survey they talked to 18,000 business owners across the country to find out which locations have the best business climate for potential entrepreneurs. And as part of this project they also drilled down to look specifically at the answers from founders under the age of 34 in order to get a handle on where, specifically, is best for younger entrepreneurs. Here's what they came up with:
Thumbtacks's blog post accompanying these findings offers more details, including demographic data about the millennial entrepreneurs they surveyed (they're more diverse, more optimistic, and more politically independent than older owners), as well as information on this group's particular political priorities (unsurprisingly they're more interested in issues around student debt).
It also offers some data on which states fared worst in the friendliness rankings, with Rhode Island, California, Connecticut, and Illinois making it into the hall of shame. Check it out for additional details.
Entrepreneurs from Boise, Birmingham and Boulder, do you agree you live in a great city to start a business?