Many individuals have flocked to Los Angeles over the past several weeks with the hopes of achieving wealth, fame, and happiness through Hollywood’s entertainment industry. However, Tinseltown isn’t the only thing putting Los Angeles on the map. Many other types of entrepreneurs are attracted to Los Angeles as well, thus making it one of the top places for business people, according to a recently published article featuring insights from business aficionado Brian Ferdinand.
A Pretty Picture of Los Angeles
According to Ferdinand in the article, a major indicator of the success level of a city is the average annual earnings of the city’s working professionals. In Los Angeles, that number is over $100,000, which indicates that many of the city’s residents fare relatively well professionally and financially.
As a whole, Los Angeles continues to be known for possessing innovation and creative energy in multiple industries, as well as driving novel business concepts, according to Ferdinand. Although many people recognize Los Angeles as the nation’s creative capital, many high-technology businesses have put down roots in the city as well due to the overlap between entertainment and aerospace.
Why Set Up a Business in Los Angeles?
Los Angeles continues to be an excellent spot to establish a business for a number of reasons. First, more than 40 million people are estimated to visit Los Angeles County each year. In addition, millions of residents live there. As a result, as a business owner in Los Angeles, you’ll have an expansive customer base.
Los Angeles is also intriguing among entrepreneurs due to the many incentives available for attracting companies. Incentives for launching businesses in the city are available at both the local and the state level. On top of this, Los Angeles offers myriad funding opportunities for small businesses. For instance, you can take advantage of funding from investment banks, grants for small businesses, and venture capital.
You’ll also love the fact that Los Angeles County has a relatively large workforce that is well trained: a large portion of the area’s labor force has bachelor’s or higher degrees. In addition, in Los Angeles, you can easily access both international and national markets. That’s because the area has six airports for commercial flights, three seaports, freeways, and two rail carrier services.
In light of the abovementioned benefits, now may be a perfect time for you to move your operations to Los Angeles or establish a brand-new business in the city, according to Brian Ferdinand.