The Nation's Youngest Entrepreneurs Live in Salt Lake City
Entrepreneurs may spend years gaining experience and resources as they wait for the right time to finally take the leap and start a company. As it turns out, entrepreneurial hopefuls might be able to achieve their aim of founding a business years sooner—if they live in the right place.
A new study from LendingTree reveals which 10 major cities in the U.S. have the youngest business founders. Using anonymized data from business owners seeking funding through the LendingTree small business marketplace, the study compared ages of business founders on their companies’ dates of origination in the 50 largest U.S. cities.
The youngest business founders in the country can be found in Salt Lake City, Utah. Entrepreneurs here achieve their dreams of starting a business at just 37.8 years old. The area known as “Silicon Slopes” encompasses the Salt Lake City metropolitan area and nearby cities; it is home to billion-dollar tech companies such as Overstock.com, PluralSight and Qualtrics. These big players have helped established a steady, growing economy in Salt Lake City and throughout Utah. The area also has an established (and growing) pool of qualified talent. Combined with the relatively low cost of living, and entrepreneurs in Utah have few obstacles—and plenty of opportunities.
Read the full study here.