Overview of Business in Manhattan

For decades, Manhattan has been a global business hub of undisputed prestige. This New York borough is home to some of the world’s most successful businesses and to the largest stock exchange in the world. Manhattan has repeatedly topped the global lists of most powerful cities, staying ahead of other leading business hubs like London, Dubai, Hong Kong, or Shanghai. Due to its excellent infrastructure, world-class business environment, and valuable human capital, Manhattan is the world’s most desirable business location . The borough’s thriving business scene is a catalyst for economic growth, and this is reflected in the local employment levels. According to the NYCEDC, more than 310,000 jobs are based in this borough, tens of thousands of which have been created in the private sector since 2005.

Major Industries

The banking and financial sector is the key economic driver for the local economy. More than 300,000 people are employed in this industry, which according to the Federal Reserve generates more than 35 per cent of the city’s income. The service sector is another key industry in Manhattan, as it employs over 1 million people in areas like tourism (over 240,000 jobs), professional and business services (287,000 jobs), or healthcare and social assistance (208,000 jobs).

The number of technology, advertising, media, and information companies (TAMIs) has skyrocketed since 2009. Back then, TAMIs barely occupied 100,000 square feet of space in Manhattan, but at the end of 2014 that figure had increased to more than 1.6 million. A report published by the Downtown alliance estimates that this sector is comprised of over 800 firms that generate a combined annual output of $125 billion and that employ nearly 29,000 people. Likewise, Manhattan has recently been attracting a steady number of creative firms. According to an article published at the Wall Street Journal, the number of employees working in creative ventures in this part of Manhattan has increased by 71 per cent over the past five years. Read the rest of this entry »

Overview of Business in Los Angeles

A variety of industries help to make Los Angeles the successful economic center that it is. The city attracts businesses in the tourism, TV/film, hospitality and technology industries. These are not the only industries that thrive in the city, however. Traditional industries like law, finance and medicine also create jobs for residents in the city. Young professionals are attracted to the opportunities presented by the technology, medical and information industries.

International trade is also a major driver of the economy of Los Angeles, with its twin ports handling more than forty percent of both inbound and outbound containers for the whole country. More than one hundred and sixty thousand workers support the international trade sector in L.A. county.

Major Industries & Key Economic Drivers in Los Angeles

Technology continues to be a driving force behind the economy in L.A. and a number of major tech companies have their corporate offices in city and its surrounding areas. The information industry continues to provide numerous job opportunities for young graduates, in particular, the film and video gaming industries. The biotech industry is also combining with the information industry to create new applications that are beneficial for the health of society. Read the rest of this entry »

Since the discovery of oil in Houston, Texas in 1901, the city has relied on energy revenue for its growth and survival. That means that Houston followed the trends of energy prices, which took nose dives in the 1970’s, 1980’s and 2000’s. But each time, Houston was able to bounce back and open up new areas of energy exploration and refining that have allowed the city to grow. As time has gone by, Houston has learned to diversify its economy and a new Houston is starting to emerge from under the shadow of the energy industry.

Overview of Business in Miami

In recent years, Miami has begun to attract major industries and corporations. The low tax rates of Florida make doing business attractive for corporations. In addition, the state also maintains numerous tax incentive programs that provide refunds for corporations that create jobs for residents. Logistically, businesses also find that opening an office in Miami makes sense. Because Miami is located on the coast, it is easy for corporations to engage in trade with foreign entities. The Port of Miami has enabled the cruise industry to thrive in the state.

Major Industries & Key Economic Drivers in Miami

In Miami, tourism makes up one of the most popular industries. Tourism is also a popular industry for greater Florida. Miami features prime beaches and real estate. In 2003, about nine million tourists spent over $10 billion on vacationing in Miami.

Another reason Miami continues to be a popular location for major corporations is due to its location as a port. The Port of Miami enables businesses to engage in international trade. Numerous port brokers and customs agents are located in the area to facilitate the process of international trade. There are also two free trade zones located in Miami, which are the Miami Free Zone and Homestead Free Zone. Over 252,000 employees currently work in the trade and transportation industries in Miami.

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Back in 2008, the Office Business Center Association indicated that of total revenue accrued, 7% was from virtual office services. Some locations reported over 10% of revenues came from virtual office services.

Since the inception of virtual office services and its implementation into the everyday interactions of many places and people, the percentage increase in usage has more than doubled.
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Elite Staffing
Elite Staffing has been connecting employers to new employees since 1991. Its mission is to provide an extensive screening, interview, and networking service to both employers and job-seekers. Elite Staffing is one of the many employment companies in Chicago that deal with a wide range of industries. They don’t simply find employees for a certain type of industry, and this makes them very popular.

AppleOne
AppleOne is unique among the various employment agencies in the Chicago, Illinois area. Instead of simply connecting job-seekers to employers, AppleOne provides a large number of employment resources as well. They offer resume services, a job-hunting guide, and a newsletter as part of those resources. Due to this focus, AppleOne is focused on helping their job-seekers find long-term, career-oriented employment.

BPS Staffing

BPS Staffing bills itself as a ‘full service’ staffing company. Their focus is both long and short-term employment, and they have a number of resources to help you reach your employment goals. For job-seekers, BPS Staffing has one of the best track-records in Downtown Chicago for employment. For employers, BPS Staffing conducts a very extensive screening process to ensure only the best applicants make their way through.

Banner Personnel
Banner Personnel is the premier employment agency in Chicago that specializes in ‘office-based’ work. Their entire service is set up to help link employers in the administrative, academic, and insurance industries with qualified individuals. They accomplish this by conducting an intensive screening process that ensures only the most qualified, motivated workers make their way through the process. Banner Personnel is a member of the National Association of Personnel Services and the Illinois Search and Staffing Association.

A-Pro Temps
A-Pro Temps is one of the most independent staffing agencies in the city. They are a privately owned business that specializes in every aspect of the employment process. They are especially popular as a direct-hire agency, and they have a great track-record of positive employment results. Their screening process is a little more lax than other agencies. Though A-Pro Temps is located in downtown Chicago, it serves the surrounding suburban community as well.

The Esquire Staffing Group
The Esquire Staffing Group has been connecting employers and job-seekers for over half a century. They are a family owned business that connects employers to full-time staff, temporary staff, and even event staff. The screening process at Esquire Staffing Group is among the strictest in Chicago. This means that applicants need to be prepared to take the application process very seriously.

First Associates, LTD
First Associates is a very popular staffing company in Chicago. It boasts the most easy-to-use website of the various employment agencies on this list. Through the web portal, employees can do everything from job-hunt to access useful employee resources. First Associates is highly regarded in the banking, financial, legal, and accounting industries. Despite this, they also help many people find work in other industries.

A Personnel Commitment
A Personnel Commitment is one of a few successful ’boutique’ personnel firms in Chicago. They have a very good track-record in executive recruitment and mid-level staffing. Employers looking to fill an executive position will find that the screening process here is much more personalized than at other staffing agencies. Instead of relying on an institutionalized screening process, A Personnel Commitment looks at the unique qualities of each applicant.

The Larko Group
The Larko Group is a trusted supplier of workforce solutions to over 200 employers in the Chicago area. The Group has been working closely with employers to meet their needs for decades. They have developed a reputation for giving each of their employment partners a personalized experience that focuses on each clients unique needs. The Largo Group even sends an employment specialist to the office of each client to get a better understanding of what the client needs.

The Chicago Hire Company
The Chicago Hire Company spends a lot of time working with employers to figure out exactly what they’re looking for in an employee. The focus here is on building long-term relationships with their clients. As a result, they are noted for having a great deal of success in matching employers with a qualified workforce.

The Internet has created a lot of opportunities for young entrepreneurs to get their ideas out to the world. Before the Internet, the idea of a 16 year old kid successfully marketing a product to worldwide audience was completely unrealistic. The entrepreneurs listed here have found a way to utilize the power of the Internet to build impressive empires before their 18th birthday.

Jason O’Neill
When he was 12 years old, Jason O’Neill from California, invented a very simple pencil accessory that turned out to be very popular with younger kids: Pencil Bugs. Pencil Bugs are essentially little heads attached coils of wire that can be wrapped around the end of a pencil. While the idea itself may not be complex, O’Neill made them very popular at local craft fairs by giving each Pencil Bug a name and birth certificate. He built an entire mythology up around his invention and they quickly became very popular. In fact, he did so well with his idea that he was named 2007 Entrepreneur of the Year.

Ashley Qualls
Ms. Qualls, from Michigan, began her entrepreneurial career at the tender age of 14 by starting a website called WhateverLife.com. The site was originally centered around layouts for MySpace and HTML tutorials for boys and girls in her age group. While it was nothing but a hobby at first, the website soon developed into a complete sensation. It was recently reported that Ms. Qualls turned down an offer to sell her website for $1.5 million. While her net worth is not currently known, she makes enough from the site to employ her own mother and pay in cash for a $250,000 home in the suburbs.

Garrett Yazzie
Garrett Yazzie’s life is something of a Cinderella story. He was born on a Navajo Indian Reservation in Arizona to a very poor family with very little means. He grew up in a small trailer without running water, electricity, or heat. The small amount of heat that his family could muster from time to time came from burning wood and coal in a furnace. This led to many respiratory problems with a younger sister of his.

When he was 13, Garrett’s life completely turned around. His teacher mentioned a state science fair and asked if anyone was interested in participating. Garret was the only person who showed an interest, and it would turn out to be a very important decision in his life. The project he created for the fair was a solar-powered heater that he made out of used aluminum cans and an old car engine he found in a junkyard. The heater was a national success, and it earned him loads of accolades. He has since gone into a special preparatory school and has been given a free ride to the college of his choice.

Anshul Samar
Anshul Samar is the CEO of Elementeo, which is an educational gaming company located in Silicon Valley. He started up his business when he was only 14 years old, and it has developed into one of the most popular educational gaming companies in the country. The flagship product of Samar’s business is called Elementeo. The game is a card-based board game that mixes fantasy and chemistry in a way that makes learning about chemicals fun for kids. He operates the business out of his home with very little overhead operating costs. By conservative estimates, Samar has sold over 50,000 units of his game all over the world. With each game costing roughly $25, that is an amazing amount of revenue.

Maryanne Barrott
Maryanne’s business started much like many other businesses on this list. She originally just wanted to do a simple summer project with her mother. The project was to start making her own body care products out of special ingredients. What it has turned into for her is an amazingly popular line of body care products that are sold mostly online. Maryanne, from Idaho, didn’t get this successful with nothing more than a good product, though. She thoroughly planned the roll-out of her product by creating a business plan that was so well-conceived that it won her the Business Plan of the Year award from the Young Entrepreneurs of America.

Rockville, MD
Rockville is a small suburb of Maryland that has a population of a little over 50,000 people. While it may not be the biggest place in the world, its location is what makes it such a hotbed of startup activity. Its proximity to a number of major national laboratories makes Rockville specifically a hub of the biotech industry, and it means that there are a lot of funding sources available for the right type of startup.

San Francisco, CA
San Francisco, California, is known mostly for its art and culture, but it also has a bustling economic scene in these tough times. The real benefit of operating out of San Francisco is the convergence of academia and business. There are a lot of established universities out here, as well as a lot of giants in the technology industry.

Franklin, TN
Franklin, Tennessee, is a small town about the size of Rockville, but is more of an entity of its own. There is a major biotechnology push in Franklin, with the university putting up state-of-the-art facilities to push development in that sector. More than half of the people living in Franklin have at least a four-year college education, and the technology industry here is on the rise.

Bellevue, WA
Close to the home of such giants as Microsoft, Bellevue, situated in Washington, is one of the hottest spots of activity in the technology sector in the country. Bellevue’s residents hold more patents than any other city in the country, and there are a lot of tax incentives for small startups, especially in the technology sector. Being so close to many of the larger, older technology firms gives startups the ability to utilize a wealth of industry information that is more readily found in this area than in other areas.

Cambridge, MA
Cambridge will be recognizable to most people as the home to both MIT and Harvard, two of the most prestigious universities in the world. As a town of roughly 100,000 people, Cambridge maintains a very low-key persona that carries an air of growth. The town has a reputation to uphold as one of the hotbeds of advancement in the country, and the incentives for small business development here are ample.

Irvine, CA
Irvine, California, has a number of things going for it that make it very attractive for startups. It is right outside of Los Angeles, so it is mostly populated by technology and entertainment-based startups, but there are many different businesses here. One of the most attractive aspects of the city is that it gives entertainment and technology startups access to Los Angeles without actually having to be located in the city itself.

Bend, OR
Bend, Oregon, has experienced a growth rate of 50 percent over the past decade, and it doesn’t show any signs of slowing down. The town itself used to be centered around logging, but has since become very involved with the technology, aviation, and biotech industries.

Santa Monica, CA
Santa Monica, California, has become very popular for film startups over the past decade. The proximity to Los Angeles is the big draw here, with business owners getting all the benefits of Los Angeles without the stifling taxes that come with living in the city. Digital media production companies find that they are able to compete with larger film companies while operating out of Santa Monica.

Boca Raton, FL
Looking to shirk its reputation as nothing but a paved old folks home, Boca Raton, Florida, is very welcoming of startups, especially in the technology industry. There are a lot of smaller companies that work here that have been started by employees of IBM, which has operated out of Boca Raton since the 1970s.

Boulder, CO
Boulder, Colorado, has become something of an icon of the technology startup community. As the university has advanced its technology base over the past ten years, more and more businesses have been developing here from the resulting boom in startup grant funding. There are a number of national research labs maintained in Boulder, and these labs bring in a swathe of talent from around the globe– making Boulder a hotbed of activity in the technology industry.