Even though some Midwest states such as Indianapolis have harder times growing businesses, companies like Salesforce have helped build up their reputation from the “sleepy manufacturing town” stereotype. Plus, innovation has only continued growing.
However, myths based on entrepreneurship in the Midwest continue to take flight. But to much avail, CEOs have started outweighing the common myths have plagued running a business in the Midwest. So go out and start your new business.
Common Myth: Midwestern Founders are Sparse in Number
Sparse founders among start ups in the Midwest are one of the most common myths that persist in Midwestern states. Most simply assume that CEOs originate from Reddit and seek out work through empty parking lots in their town’s home improvement center.
CEO of Growella in Cincinnati, Dan Green, remarks that these rumors are far from the truth. He says, “There’s a genuine symbiosis between large and small companies in the region, and that can’t be overstated for a startup.” “The community is tight-knit and genuinely cares for one another,” he continued.
CEO of Sticksnleaves, Yaw Awning, also remarks that “One incredible advantage of launching a tech company in the Indianapolis area that is rarely mentioned is that, with a phone call or an email, you can meet with practically anyone in the city.” He also stated that “the level of access you have to other entrepreneurs and leaders who’ve had success is unparalleled.”
Common Myth: There Simply Isn’t Enough Funding
The majority of successful entrepreneurs go to areas where there is plenty of funding for their startup. Even though most startups aren’t based in the Midwest, most got their first funding to start up their company such as JumpStart Inc. and Elevate Ventures. CEO of Ikove Venture Partners in Ohio stated, “We have resources here that can change the world.” “Lacking an identity as a tech startup hub does not have to be a barrier to starting and building companies.”
Plus, nearly 75 Midwest business closed out their first quarter with $441 million in funding deals, according to MoneyTree report.
Common Myth: All of the Midwest Talent Flee to the Coasts
No matter where a company is, it is only as successful as its employees. A lot of people are under the impression that the skilled employees who grew up and attended college in the Midwest move to the coasts for work. According to this belief, the pool of talented workers left in the midwest would be small, making it hard for companies to hire the employees necessary for success.
This, however, is simply untrue. In fact, there are talented, hard working people everywhere around the globe. Many of the country’s top business and computer engineering programs are at Midwestern schools, like Northwestern University and the University of Michigan. Taking this into account, anyone could see that the Midwest is ripe with talent. Additionally, existing midwestern companies pay special attention to actively preparing the next generation of business leaders.
One technique that recruiters often use is finding talented individuals at the top colleges in the area. This is especially true for the burgeoning tech industry that is growing in the Midwest. From office 365 cloud security to coding, these Midwestern tech workers can do everything that those in Silicon Valley can do. There are even nonprofit organizations that recruit seniors from the tops of their classes and place them in local host companies. This helps young people to find good jobs and companies to keep their talent local. These programs also often help these recent graduates to build their business and entrepreneurial skills even further.
In contrast to the stigma that business cannot thrive in the Midwest, it may be one of the most promising spots in America to land your next startup. Hopefully, with the help of our article, you can delve past the myths and rumors about the hardships of the Midwest to either settle your small business or start one of your very own. Good luck and happy venturing!