Written by: Derek Goodman of Inbizability
If Cincinnati is on your radar as a possible business location, you need to know how affordable the region is, whether the community there will be supportive of your business, and what the area is like for family life. Here are some useful facts about the Cincinnati area that will help you make up your mind about whether to move or start a business there.
Cincinnati is Relatively Affordable
The cost of living in Cincinnati is not high. The median sale price for a home is approximately $220k, which is significantly lower than the national average. Apartments and other rentals intend to be both affordable and plentiful. This isn’t just great for your family; it also means you can find great team members at affordable wages. In addition, a lower cost of living means that a business owner can anticipate having a longer cash runway.
The Benefits of a Diverse and Vibrant Culture
Cincinnati has an array of arts and entertainment offerings to appeal to a wide variety of tastes. High quality of life in the region means that employers can anticipate a happy and motivated workforce. Whether you are a sports fan or an art aficionado, you will find venues and events to keep you engaged locally. Here are some of the popular parks and events Cincinnati residents enjoy:
Riverwalk – this trail through the business district takes you through various small parks as well as areas of historical interest.
Cincinnati Zoo and Botanical Garden
Spring Grove Cemetery and Arboretum
Eden Park – often described as one of the best parks in the city.
Cincinnati Music Festival
PNC Festival of Lights
Access to a Good School System
In addition to a great cultural life, Cincinnati also has a good public school system, with some of its schools being ranked in the top 25%, nationally, and the Indian Hill district making the top ten in the nation. Families also have many private schools to choose from in Cincinnati, some religious and some secular.
A Safe and Healthy Place to Raise a Family
Most of Cincinnati’s communities are relatively safe, which should be especially encouraging to families relocating to the area. And with four of its hospitals rating among the nation’s best, it’s also a good region for health care. Cincinnati is also rated the top city in Ohio for a healthy and active lifestyle and ranks in the top thirty fittest states in the nation.
A Business-Friendly Community
Cincinnati is a friendly and welcoming city offering a myriad of opportunities for new business owners to forge connections. Cincinnati is home to nine Fortune 500 businesses, but it’s a great location for startups to thrive, also. Here are some of the area organizations that can help you find your footing as an entrepreneur:
Downtown Cincinnati Small Business Support
City of Cincinnati Business Resources
Cincinnati Regional Chamber
StartupCincy
Ohio Development Services Minority Business Development
An Educated Workforce
With over twenty colleges and universities in the area, Cincinnati is a city that prizes education. This means access to a highly educated workforce. Here are some of the top institutions of higher education in the Cincinnati region:
University of Cincinnati
Xavier University
Mount Saint Joseph University
Northern Kentucky University
The Christ College of Nursing and Health Sciences
Miami University - Middletown
What do you need to do to start your Cincinnati business?
Before you make your move, be equipped with the knowledge you need to start a business in the Cincinnati area. Here is your handy startup checklist:
Write up your business plan.
Get any necessary funding.
Choose your business name.
Form your business as a legal entity.
Find out about regional licenses and permits.
Make sure you have good business insurance.
Start a business banking account.
Register with the IRS and get your tax ID number.
If you need support for internal communication for your business, Internal Comms Pro has the resources your company needs not only to succeed but to excel. As an entrepreneur raising a family, you are likely going to be particular about where you relocate. With its great business environment, excellent schools, and healthy lifestyle, Cincinnati is a choice you should seriously consider as you plan to make your move or start your business.
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