Known for a vibrant arts scene and exciting outdoor recreation, Seattle is also a top spot for small business development.
Coffee and technology thrive in the creative Seattle business environment. Jobs are growing and the economy is thriving. In fact, Kiplinger named Seattle, Washington one of the 10 Best Cities for the Next Decade, noting the city’s educated workforce, research chops, and innovative entrepreneurs.
The cost of living in Seattle is much higher than the national average. Venture capitalists, however, flock to the area, bringing lots of start up money with them.
Tax policy affords Seattle another advantage. Washington has no personal or corporate income tax, and no state capital gains tax. Businesses also enjoy tax credits and employee training programs offered locally.
The city works to foster business development and economic diversity. The University of Washington houses start-up businesses in its New Ventures Facility, a business incubator. Nearby McKinstry offers development and office space along with consulting and mentoring opportunities with the engineering firm’s industry experts. New business owners will also find mentoring opportunities, workshops and special events through the Greater Seattle SCORE.
A magnet for technology and biotechnology companies, Seattle offers a highly skilled and well-educated workforce. Mega businesses like Microsoft, Amazon and Starbucks recruit talent to the area, and other local businesses reap the benefits.