Now is the time to start a business
If you are like me and the countless other students who are growing tired of hearing how San Diego is a city that inhibits the growth of business because of its niche market, then listen up.
Despite misconceptions about San Diego being a niche market, research has been released that shows San Diego as one of the top cities for startup business development. I think this is fantastic news for students studying here, especially for those who are hoping to remain in San Diego.
The San Diego Union-Tribune (U-T) reported that the number of technology and life science companies in San Diego spiked in the first half of 2014. The belief is that new alternative funding, coming in from websites like Kickstarter and angel investors, is stimulating the growth of businesses.
Regina Bernal, USD’s Entrepreneurship and Experiential Learning Coordinator, gives alternates reasons for why San Diego is becoming one of the major areas for business development.
“San Diego is the best place for entrepreneurs right now because [it] has a community of creative thinkers that want to provide solutions to existing problems in innovative ways,” Bernal said.
Connect, a technology trade and mentoring group focused on startup and mid-sized companies, reported 228 new firms opening during the first half of 2014. These numbers were record breaking.
The businesses that have been opening include software and application developers, communication and computer equipment, and life sciences.
According to Bernal, this boom in startup companies is a trend that we can expect to continue.
“The millennial generation values different things and the thought of a strict 9 to 5 job is not always the best fit for the creative minds,” Bernal said. “Entrepreneurship ignites and expands our economy, and has created much needed jobs.”
None of this would be possible without the help of investors. One of the most influential investors is the Tech Coast Angels.
In 2014 they generated a total of $8.3 million for 16 different companies. The San Diego chapter accounted for half of all the investments made by the five different chapters.
This leads me to firmly believe that San Diego is one of the best marketplaces to start a business.
The atmosphere is ripe for development and there are so many people out there who are willing to invest time and money into companies. If I were starting a business, I would seize the moment and start now.