(The American Tobacco Historic District in Durham, NC.)
It’s never been easier to start a business and become an entrepreneur. For millennials, access to technology and multiple social media platforms have made launching and growing your business more cost-effective than ever before.
Whether you are just launching your business or are a seasoned entrepreneur, cutting expenses will always be an important ingredient to your business’s longevity. One of the biggest costs in any budget is your living expenses. As an entrepreneur, being savvy about where you choose to live can not only help your business thrive but also give your wallet a bit of a reprieve.
Below are the top three affordable cities for millennial entrepreneurs to live and work.
Not only is Raleigh–Durham a great college town, but it is also becoming a formidable force to be reckoned with for millennial entrepreneurs. Raleigh-Durham is home to an innovative tech hub, American Underground, which is one of just nine Google Tech Hubs in North America.
The American Underground has four locations around Raleigh-Durham and is jammed packed with all the goodies millennial entrepreneurs could ask for: co-working spaces, community events, flexible lease terms, conference rooms, and, of course, a complimentary coffee bar. Located in the Research Triangle, American Underground is helping to put Raleigh-Durham on the map for entrepreneurs
Coupled with the low cost of living that North Carolina offers, many millennial entrepreneurs are fleeing more expensive states like New York and California to have a chance to focus on the growth of their business and not the growth of their living expenses.
The median earnings in Raleigh/Durham are $47,618 and the city also enjoys a low unemployment rate of 4.6%, ranking it 16th in Best Cities for Young Entrepreneurs, according to NerdWallet.
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