Could living in a mid-sized city actually be advantageous for your business?
According to a recent study, this may be the case.
The study, developed by Inc. Media and the PhD Resource Group, LLC, evaluated business leaders’ satisfaction in relation to the population and size of their city. The results revealed business leaders and company decision-makers were substantially more satisfied in mid-sized cities than in large cities.
According to the findings, mid-sized cities like Amarillo ranked:
- 23 percent higher for costs and access,
- 19 percent higher for overall costs,
- 16 percent higher over a general business index,
- 13 percent higher for the environment,
- And 10 percent higher for lifestyle.
The study, which was created to identify factors corporate decision-makers use to determine the success of their business, was administered through the services of Qualtrics in conjunction with Texas Tech University and the Amarillo Economic Development Corporation.
What do these findings mean for the city of Amarillo? Well, they could prompt business leaders to move their businesses or start up new branches in mid-sized cities like Amarillo.
In the past, most corporations have taken their businesses to bigger cities to take advantage of perceived big-city perks. However, these findings reveal that big city advantage is nothing more than a myth. Many business leaders are happier and more successful in mid-sized cities that offer access to resources while still providing a high quality of life.
Amarillo proved to be the prime example for the study. The city offers support for businesses and entrepreneurs, access to university and research centers, funding options, a low cost of living and taxation rates, a young and educated workforce, and opportunities for a work/life balance that you will not find in bigger cities.
And, because the study has been promoted by Inc. Magazine, it can provide even more backing to growth opportunities available in mid-sized cities.
You can read the full story on Inc. Brandview, the Inc. site created to promote material on the advantages of life in Amarillo.