by Luke Murray, Council of Neighbors
There’s been a lot of talk about Chicago becoming the next major player when it comes to hosting small businesses. The city has a diverse population and a history with larger companies, and it’s made strides to help businesses succeed. However, should you move your business to Chicago? In addition to doing some research into what the area has to offer, you’ll need to work with local real estate professionals and a trusted moving company like Move-tastic! to ensure that this transition goes as smoothly and as easily as possible.
If you’re looking for reasons why a move to Chicago should be in your future, check out the latest post from the Move-tastic! blog.
Greater Diversity Means Less Competition
Chicago has become a hub for new businesses. It’s home to business start-ups in an array of industries, including tech, retail, construction, food, and more. With so many different types of businesses, you can expect less competition in your niche when you move your business to Chicago.
How Chicago’s Cost of Living Affects Your Business
Chicago has a higher standard of living, with apartment rentals costing $2,091 on average. In 2019, Chicago had a 4.81% vacancy rate for rentals. Median home values in the city are just above $324,900. Housing costs in the city are slightly below the U.S. average.
Additionally, VA and FHA home loans can help ease the financial burden of buying a home in Chicago. Additionally, the Illinois Housing Development Authority provides mortgage and down payment assistance for Illinois residents.
While the cost of living in Chicago means labor may be more expensive in some industries, it also means your customers are likely to have higher incomes, which can be great for business if you cater to the right audience.
Community Support for Small Businesses
Chicago new business owners get some of the best infrastructure in the U.S., grant money, and a diversified workforce to help support each type of business. The city also offers several programs centered around creating small businesses, such as:
- Neighborhood Business Development Centers
- SCORE Chicago
- Illinois Small Business Development Center
A High Quality of Life Helps Employees Thrive
Local events and amenities have a great impact on small businesses. They enhance the quality of life for you and your employees, as well as your family, and in some cases may increase tourism in the area, drawing more customers to your business. Some of the parks and local festivals you can look forward to in Chicago include:
- Millennium Park
- Lincoln Park
- Northalsted Market Days
- Chicago Blues Festival
A High Percentage of Educated Workers
Austin has an educated workforce. As of 2019, more than 41.3% of adults aged 25 and older held a bachelor’s degree or higher. Regardless of your industry, having access to educated, productive workers is beneficial. Some of the area’s major colleges and universities include:
- Northwestern University
- University of Chicago
- DePaul University
- Loyola University Chicago
Chicago’s New Business Resources
There are plenty of resources to help get your business off the ground. Some services you may need include name registration and certification, which can be obtained by contacting the Illinois Secretary of State, as well as municipal licensing, which varies depending on the business you conduct.
You can also find helpful business tools online. You can easily generate a company logo design to help your new business stand out. Then you’ll be ready for what Chicago has to offer.
Chicago Is the Best Place to Start Your Small Business
It’s easy to see why Chicago is a great place to do business. And if you want to move your business to Chicago, Move-tastic is happy to help. Chicago has everything you need to help your business thrive. A high standard of living, educated workers, and small business support are at your fingertips to help you get your business on the path to success.
This article is brought to you by Move-tastic!, Chicago’s favorite moving company. We see every move as a chance to prove that we’re the best movers in Chicago. And we know that all moves are unique! That’s why we offer a variety of services to accommodate all of your moving needs. For more information, please contact us today!