Nashville Ranks High In A Ranking For Business Start Up In The U.S.

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Nashville Ranks High In A Ranking For Business Start Up In The U.S.

By Chris Cannon. CREATED Jul 9, 2014
by Chris Cannon

NASHVILLE, Tenn. – A national ranking named Nashville as the fifth best city in the nation to start a new business.

The survey was released by Nerd Wallet Finance, which looked at several factors when determining where cities placed on the ranking.

Available funding, human capital, the local economy, business-friendliness, and affordability were all analyzed by the organization.

Oklahoma City came was in the top spot, while Memphis ranked at number ten. Nashville fell right in the middle of the list.

“About six years ago, we made a concerted effort as a city to become attractive to the start-up community,” said Michael Burcham from the Nashville Entrepreneur Center.

The EC has played a big role in changing the climate of business start-ups in the Nashville.

“That's our job, to help you get the resources you need to turn that idea into a real business,” according to Burcham.

The people behind WoodGoods are currently working out of The EC, developing their products, web site and business plan.

“We're here every day, working on our business, talking to customers, speaking to investors, making refinements,” said founder Andy Chick.

The company will soon offer customers the ability to build and buy custom hardwood products on-line.

They have been working out of The EC for the eight weeks. WoodGoods is part of a JumpStart Foundry project that allows them to use space at the facility for 14 weeks.

“Its' rewarding, it's a lot of hard work, but watch it grow and see it get some early attention, that's been a really exciting part of it,” Chick said.

Chick and his colleagues are working on WoodGoods’ business plan, which they will present to a group of business investors in August.

Nashville may rank at number five this year, but the people behind The EC are working to move Music City up in that ranking.

“We have a very focused effort, through a large group of us that want Nashville to be the best city in America to start a business, not just a top five,” Burcham said.

The Nashville Business Incubation Center at Tennessee State University also plays a big role in getting businesses started in the city.

They have 40 start-ups running at their facility at any given time. Businesses can work with the center for up to 5 years. The NBIC also offers $25,000 low interest loans to start-up companies.

Email: ccannon@newschannel5.com
Chris Cannon

Chris Cannon

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Chris Cannon is an Emmy awarding winning reporter who joined the NewsChannel 5 HD team in May of 2004.