Located in Central California, Sacramento has a population of more than two million people and serves as the state's capital. Founded in 1850, it enjoys a place in history as the site of the 1848 Sutter's Mill gold rush. While people may no longer come to this city to search for gold, they do make a mad rush to stake their claim in the city's healthy entrepreneurial market. You can strike it rich and find success yourself when you utilize these five key reasons to start a business in Sacramento today.
City Development Services
Sacramento's city leaders want you to do well as a small business owner. The city makes available a wide array of services designed to make it easier for entrepreneurs to succeed. These entrepreneurial services include:
- Help with permits and land development
- Site selection
- Business relocation assistance
- Laying claim to the state's Enterprise Zone tax credits
- Employee hiring and training
- Local business networking and introductions
- Assistance with city utilities like water and electricity
These courtesies are open to any person interested in opening a business in Sacramento.
Compared to other parts of the state, Sacramento continues to grow a steady and healthy rate. The economy in the city grew by 1.31 percent since 2015. This rate is slightly higher than the overall state economic growth of 1.18 percent.
The future job market also is predicted to grow by 34.20 percent, a bit lower than the 36 percent job market growth predicted for the state as a whole. Sacramento's average household income stands at $51,000 while the average price for rent holds steady at around $1000 per month. These figures indicate that the city's population has money to spend in the local economy and that the cost of living is relatively low.
Sacramento entrepreneurial groups like SARTA also assist local entrepreneurs make a go of it in the local small business market. SARTA hosts events and forums like its Sacramento Entrepreneurship Academy, or SEA.
This workshop helps local small business owners network with and learn from each other. You also get the opportunity to speak with established company owners in the area and learn skills needed to gain confidence as a small business operator.
Sacramento ranks first in the nation for having the most technically skilled job force. People who live and work here possess remarkable STEM-related job skills that can benefit you as a business owner. When you want to build a business that centers on industries related to computers, math, science, engineering, and other highly skilled trades, you will find a talented and motivated pool of professionals from which to choose when staffing your company.
Sacramento's population is predicted to increase significantly in the next few years. State officials forecast the city's population to increase by 54 percent by the year 2020.
If the growth occurs as predicted, Sacramento will rank 21st in the state for being the most populated metropolitan area. This large population can benefit you by providing you with a healthy and readily available workforce to work for your company.
These top five reasons highlight why Sacramento is the place to be when it comes to starting your own business. You can clear the path for your success by making your move to the city as easy as possible. The city makes available amenities like cheap storage units that you can use when you relocate here. The various Sacramento self storage options let you get settled quickly so that you can get your new business started.
Sacramento is one of the most accommodating cities in California for entrepreneurs. You can find success here when you consider these reasons for starting your own business in Sacramento today.