It's cheap. The cost of living in Philadelphia is 14% below the national average, according to NerdWallet, and local tax rates are low, too — sales tax and employer contributions to the state unemployment insurance system are both 4.9%.
Tons of benefits. The city has an excellent benefit package for new businesses, including grants to offset the cost of hiring additional employees. It also offers free or low-cost training in a variety of areas that can help you build your business and improve your bottom line.
A growing population. Philadelphia just overtook Boston as the fifth largest metropolitan area in the country, with a population of more than 2.5 million people — that's a lot of potential customers for your products and services!
Great location. Philadelphia is centrally located in Pennsylvania and close to New York City and other major urban centers on the East Coast, so it's easy for small businesses to reach new markets without breaking the bank. And since Philadelphia has plenty of mass transit options that are less expensive than driving or taking taxis, it's easy for visitors to get around town without adding to your overhead costs.
With a strong business community, convenient transportation and a rich history, Philadelphia is the perfect place to start and grow your business. Here are five reasons why you should locate your business in Philadelphia:
Philadelphia has a large business community that provides valuable resources to entrepreneurs, including networking opportunities with other business owners and a wide range of financial services, including loans and credit options. The city's Chamber of Commerce offers many resources for businesses, including free or low-cost seminars and networking events.
Businesses can also take advantage of the Small Business Development Center (SBDC) at Temple University, which provides consulting help at no cost to small businesses. The SBDC has an extensive nationwide network of more than 300 offices with staff who provide assistance in key areas such as marketing, finance and operations. Transportation
Philadelphia is an ideal city for businesses because it is accessible by car, train or air. The city's three major airports make it easy to travel by air domestically or internationally. A major highway system — Interstate 95 heads north to New York City and south to Florida — makes it easy to reach any part of the country via road.