Where Should Your Big Business Dreams Be: Booming Metropolis or Small Town?

Should you start your dream business in a booming metropolis?

The advantages of starting a business in a city:

• Millions of potential clients and customers to tap into
• Several marketing strategies and outlets to employ
• Larger communities of entrepreneurial support
• More likely to find venture capitalists and investors
• More tools and tricks available such as virtual offices

The disadvantages:

• Much more competition; carving out your niche market can be more challenging
• Brick and mortar spaces are higher in costs
• More business regulations to follow and abide by
• Cost of doing business is higher

Should you instead open up your dream business in a small town?

The advantages of starting a business in a small town:

• Closer knit communities and familiarity
• Cost of doing business is less
• Easier to create a niche market that is needed
• Marketing avenues are cheaper (if local)
• Less regulations likely to be imposed on your business
• Less competition

The disadvantages:

• Smaller market to cater to (if local)
• Talent pool to recruit from is smaller
• Immediate resources are less likely to be available (if local)
• Have a smaller presence, perhaps a smaller impact
• Access to capital outside of bank loans and the SBA may be harder to come by

It doesn’t really matter where we choose to start our business dreams, just as  long as we’re prepared to the best of our ability.  There will always be advantages and disadvantages to everything we do as business owners, it just depends are how well we use those victories and obstacles  it to our advantage.