Nashville is home to country music and is the capital of Tennessee. As of 2018, this bustling city, with a hometown feel, has a population of 692,587. While we don’t have official statistics, Nashville has grown a lot since then, as it’s one of the fastest growing cities in the country. With a total of 527.9 miles, this city is the largest in the state. Right now, there are some booming businesses in Nashville TN.
Over the last few years, business has been booming in Music City, U.S.A. Some of the largest companies in the world have decided to call Tennessee home.
The State Department of Economic and Community Development has announced 12,500 new jobs were added in 2020, alone. Impressive, considering this was during a worldwide pandemic when many more jobs were lost, rather than added. With Tennessee’s boisterous economy and skyrocketing growth, it is no wonder so many major names in business are setting their sights on Nashville.
Big Business in Nashville
With over 5 billion dollars being added to Tennessee’s economy in 2020 alone, it is easy to see Nashville has become a perfect area for manufacturers to expand their operations.
Businesses like General Motors, Amazon, Facebook, and Moldex have all expanded operations in Nashville. The state of Tennessee has been actively recruiting businesses, and it looks like their efforts are paying off handsomely.
Why Should Business Owners Move to Nashville?
While Nashville is not as large as some of the other big cities many major corporations reside in, it offers some of the same amenities, with a more laid-back atmosphere that is appealing to many. In Nashville, you can experience everything found in San Francisco or even New York, without such a breakneck pace.
So, why should entrepreneurs buy a business in Nashville? Multiple reasons are drawing people to this lively city, and some of those reasons may surprise you.
Music Scene
The music scene in downtown Nashville is undoubtedly hot right now. There is live music everywhere, especially as the economy opens back up. From the Country Music Hall of Fame to Music Row, this city is alive with the sound of music. The music scene is unquestionably one of the reasons many people move their businesses to Nashville, though it certainly is not the only one.
Taxes
Many people are surprised to learn there is no state income tax in the state of Tennessee. For entrepreneurs who are budgeting as they go, this is a tempting draw. The more money they can keep in their pockets, the better.
Health Care Innovation
There is one thing almost every successful city has in common and that is health care. Some of the biggest names in the healthcare industry have targeted Nashville with building projects.
For entrepreneurs, being surrounded by large, legacy businesses in Nashville helps to offer mentorship and foster success. It only takes a spark to light a fire. Being surrounded by big names in the health care industry can have a profound impact on fledgling entrepreneurs.
Affordable Housing
In some of the biggest startup hubs, such as New York and San Francisco, affordable housing is impossible to find. Although housing costs are definitely on the rise in Nashville, they are much more affordable than larger hubs, which is why so many are moving to this amazing city.
Higher Learning
No metropolis would become a successful business hub without higher learning opportunities. Nashville is home to some of the top universities and colleges in the state, including Vanderbilt University.
In addition to Vanderbilt, there are twenty other schools of higher learning, offering great talent for innovation and leadership. With so many fine schools, Nashville has been one of the cities with the fastest growth among young people between the ages of 25 and 34 in recent years.
Companies like Eventbrite were drawn to the city because of the high-caliber engineer talents residing there. Eventbrite wanted to expand beyond its San Francisco headquarters and chose Nashville because of its amazing engineer talents and money-saving opportunities.
Friendly Vibe
Not all business hubs are friendly, and many entrepreneurs find that out the hard way when they move into a bustling city and do not like the vibe. Without a doubt, Nashville is big and imposing, but it has retained that small-town feel.
Nashville has been ranked number 4 in the friendliest cities in the United States. Becoming successful in business involves getting to know other like-minded people. How can you get to know them if they are unfriendly? They say in Nashville, you will never meet a stranger.
Collaboration
The Nashville Entrepreneur Center, a non-profit located right outside of downtown, says the city is always willing to engage. From volunteerism to collaboration, Nashville is alive with ideas and people who are willing to lend a hand to others.
Nashville leaders are always taking time out of their busy schedules to give back to the community. This has fostered a true commitment to community engagement, which is why so many new entrepreneurs are now calling Nashville their home.
It Will Take Hard Work
Those who are interested in growing a business in Nashville should not think the process will be easy. Anyone willing to roll up their sleeves, dig in their heels, and put in hard work will have access to great opportunities here.
With such a positive atmosphere for growth, entrepreneurs from all over the world are descending on Nashville, in hopes of becoming a success. While surrounded by some of the very best minds in the business world, how could anyone not get excited over all this city has to offer?
Conclusion
There is no doubt Nashville is one of the latest up-and-coming business hubs. Right now, living and working in Nashville is much more affordable than many other large cities across the United States.
The moment you step foot in the city, you will feel that vibe that beckons. There is no better place to get started on your business ventures. From small beginnings can come big outcomes.
Now is a perfect time to check out the businesses that are available in Nashville. With the right attitude and drive for success, entrepreneurs will find Nashville fosters their creativity and makes the most of their expertise.
Why not join the ranks of Facebook, Amazon, and so many others? Surrounding yourself with success will lead to a promising future in the business world.
