Los Angeles might just be a great place for owners of small businesses to begin their new enterprise. They are privy to a huge network of entrepreneurs, great talent and skill from top colleges like UCLA, USC, and a staggering 45 million of visiting consumers every single year.
Rather than being deterred by the high cost of living there, connections between the local community and budding entrepreneurs are now being formed with the help of SoCal founders. In addition, funding has been provided by IdeaLab, MuckerLab and Science Inc., as well as mentoring and establishing connections.
LA breeds a ton of creative talent. Hollywood anyway is a meeting place for the entertainment world and thus talent in this industry is diverse with a slew of eclectic individuals. There have been many success stories in LA including Light My Fire (boutique retailer selling over 1,000 types of hot sauce), offering locals a totally unique experience.
Another thing LA has going for it is the fact that its population is not contained in one urban cure (like NYC and Chicago). Indeed, the City of Los Angeles spans more than 503 square miles and in this space are contained very diverse individuals, communities and lifestyles. That makes it easier for burgeoning entrepreneurs looking to start a business too.
So entrepreneurs should start thinking about starting their next venture in sunny LA!