Subscribe to Entrepreneur for $5
Subscribe

Where Startups Are Matters More Than What They Pay

By
This story appears in the June 2013 issue of Start Up.

The cliché that "location, location, location" determines whether a business lives or dies applies to more than just retail stores and restaurants. It's also a factor for office-based startups and newly hatched manufacturers. That's because the one thing they have in common is people. Whether you're looking to lure the most customers or attract the best employees, where you set up shop is a critical decision that should not be based solely on the cheapest lease available.

"Successful companies are going to go where the best people for their enterprise want to live and work," says Mark Arend, editor in chief of Site Selection, a magazine that covers corporate real estate and economic development. "Consider a creative company, like an ad agency or electronic game developer. If that labor demographic wants to live in a trendy, downtown part of the city, then that's where the company will want to locate, because those workers typically won't want to commute to the suburbs, where workspace may be more affordable. It's a cost of doing business."

Continue reading this article -- and everything on Entrepreneur!

Become a member to get unlimited access and support the voices you want to hear more from. Get full access to Entrepreneur for just $5!

Get 3 months free with code ZENDESK

Presented by zendesk

Get 3 months free with code
				ZENDESK