Maybe you’ve been working on a business idea with great potential, but the cost of living in your current city is so high that you’re concerned you’ll never be able to come up with the necessary startup capital for a successful launch. Or perhaps you started a business recently, yet your area lacks a strong entrepreneurial community, and you’re wondering if you should relocate to a city with a thriving small business network. On top of your professional concerns, you also have to balance your personal needs - you’re seeking a neighborhood where your family will feel right at home, too.
If you’re looking for a city that checks all of these boxes and more, it’s time to set your sights on Fort Worth, Texas! To help, The Social Sharks explain why Fort Worth has established itself as a small business haven and a great place for families to call home.
Low Cost of Living
Moving to an area with a low cost of living grants you a longer “runway” as an entrepreneur. There’s no need to panic if your business isn’t profitable right away - you’ll have several months before you need to generate sustainable revenue. In Fort Worth, labor costs are quite reasonable, so you can hire your first employees without taking on a huge expense.
Around 625 apartments are currently listed as vacant in Fort Worth, and your family has several safe, quiet neighborhoods to choose from. While apartment prices can get pricey in certain areas, most apartment complexes are easily affordable and come with a range of amenities like fitness centers and pools. There is a fair bit of sprawl in Fort Worth, so factor this into a potential commute as well. Popular neighborhoods to consider include Camp Bowie, the Stockyards District, Sundance Square and the university area.
If you’re ready to buy a home, note that the median home price in Fort Worth is $297,044, which is slightly higher than the national average but still manageable for this area. With such competitive prices for local real estate, it’s a safe bet that you’ll be able to find affordable commercial property in a desirable location, and if you need assistance with the legal aspects of this process, you can turn to a local title company.
Qualified Talent Pool
Running a business in a city like Fort Worth guarantees that your open positions will garner interest from hard-working professionals with degrees from reputable local universities. And in a city with such a low cost of living, you can hire talent without spending a huge portion of your business budget. Fort Worth is home to several fantastic institutions of higher education, which is great news for entrepreneurs in the region. You can recruit qualified talent from some of the top colleges and universities in the area such as Texas Christian University and Texas Wesleyan University in Fort Worth, the University of Texas at Arlington, and in Dallas, Southern Methodist University and the University of Dallas.
Whether you’re relocating an existing business to Fort Worth or you plan to start a business in Texas, ZenBusiness notes you’ll need to read up on the requirements for running a company in Texas. You’ll have to keep these essential legal guidelines for Fort Worth entrepreneurs in mind:
Register your business entity in Texas and obtain a state business license.
You will most likely need to apply for a seller’s permit through your local government website.
Working with your fellow entrepreneurs and seeking out business mentors can provide inspiration and the motivation to try new things and overcome obstacles in your career. In Fort Worth, there is no shortage of helpful local business leaders and engaged customers. The Fort Worth Chamber of Commerce makes it easy to connect with organizations that support entrepreneurs to grow your company
Even though you’re busy running your own company, life doesn’t have to be all work and no play! In a city with an enduring community identity and lots of opportunities for connection, the workforce is more likely to be personally invested in their employer’s future success – after all, you all make up an important part of the community fabric. The local food scene, gorgeous parks, and fun events all add up to Knoxville’s unique culture.
Ties to Other Cities
When you live in Fort Worth, you’re never far from several other fantastic cities where entrepreneurs have made themselves at home. Elsewhere in Texas, Dallas, Austin, San Antonio and Houston make great road trip destinations.
Fort Worth is a growing city with lots to offer aspiring entrepreneurs and established business owners alike. With great schools, safe neighborhoods, and lots of fun things to do for people of all ages, business leaders do not have to choose between work and family in Fort Worth. If you’re thinking of relocating to a new city for the sake of your family and your entrepreneurial career, Fort Worth is a fantastic place to settle down.
Need a marketing company to help spread the word about your new Fort Worth business? The experts at The Social Sharks are ready to support all of your digital and social media marketing needs. Reach out today