From one business to another, Hoboken is indeed a great place to start a business in. With a population of about 50 thousand and just over a square mile, it is one of the most densely populated cities in New Jersey. The closeness to other boroughs, and most notably Manhattan, makes it a popular city to live in. But what about businesses? The Gibraltar Van Lines team is here to tell you the top 5 reasons why Hoboken is popular among NJ business owners.
Some information about Hoboken
Hoboken, also known as the “the mile-square city,” is not only an excellent place for business but it’s a great place to live in as well. In recent years it’s become even more attractive, especially to young people and families. The main reasons for this are:
- Affordable real estate – especially ent prices if compared to those in NYC
- Its proximity to just about everything, especially New York City and Manhattan)
- It’s clean, which is no surprise given the size of the city
- Great schools make it perfect for families with children
1. Median household income
The first reason why Hoboken is popular among business owners in New Jersey is the median household income. The median household income in Hoboken is around $150k, and it is more than double than the national average. Higher median income per household, of course, means higher purchasing power. This is one of the reasons why Hoboken is popular among NJ business owners, especially those in the field of retail or service industry. Because of this, it’s no wonder why Hoboken has the highest rate of restaurants per capita. The household income is even higher compared to the Hudson county median, which is about $7ok. So, the best investment you might make when moving to Hoboken is on Hudson county movers that can help you relocate to start a business. It will be much easier this way.
2. Average age
Another reason Hoboken is popular among NJ business owners is the average age of residents. The average age of Hoboken residents is around 30 years. This means there are a lot of millennials there looking for a job. Being one the most educated generation, millennials are indeed always best equipped for the job, no matter what industry we are talking about. You might not know that Hoboken has been named the #1 suburb and the second most favorite city to live in for young professionals.
People are moving here and starting their businesses from all over the country. If you are also a young professional looking to move here, you will fit in no time. Before you start packing your bags, consider hiring movers first. While you concentrate on starting a business, moving companies in Hoboken can take care of the stressful part of moving. You can focus without stress.
3. Everything is within walking distance
You don’t need a car in Hoboken because everything is within walking distance. Additionally, if you still don’t like walking, Hoboken has its own free community shuttle bus service called The Hop, covering almost all of Hoboken. And if you are moving your business and don’t drive, the best option is to hire office movers in NJ to help you settle and start your business as soon as possible. It’s even within walking distance from Manhattan and New Jersey city, which allows you to bring more customers, making it a popular business location for NJ business owners.
Even though it’s a generally small city, Hoboken has its distinct vibes depending on which area you live in. Uptown Hoboken is definitely for you if you are looking for a more quiet neighborhood. If you want to relocate your family there, it is the best neighborhood. However, since we are talking business here, downtown Hoboken is where the action is. Downtown has a different feel and is better for business because there is a lot more activity. Washington Street in downtown Hoboken has many cafes, bars, and restaurants. This drives the foot traffic making it popular among NJ business owners. Additionally, the foot traffic makes it suitable for opening a retail store, for which you will surely have competition.
4. NJ business owners love Hoboken’s one-stop-shop
It’s easy to set up a business with all the regulations information being in one place. Hoboken’s official website is regularly updated with new information you need to run your business. This is a precious service because we all know that information is gold. The less time you spend on trying to find things out, the more you have to get your business up and running.
You can find all the resources you need to start or relocate a business online. For example, if you are looking to open a food establishment, there is a guide that helps you do precisely that. No matter the type of business you plan on operating, you can find a relevant guide. The guides are there to help business owners to start and run their businesses. It has information from construction and building permits you might need to obtain business licenses according to the type of business you plan on opening.
#1 reason why Hoboken is popular among NJ business owners
The main reason why Hoboken is popular among NJ business owners is the business community. Hoboken overall has a great tight community, making it a great place to live in. Likewise, it has a great business community.
Having the right people by your side is crucial if you want to make it as an entrepreneurHoboken government and its partners did a study in July 2020 that aimed at creating recommendations and strategies for developing an innovation ecosystem that could help businesses thrive. In addition to that, there are many business societies you can join and network in.
And there you go, 5 reasons why Hoboken is popular among NJ business owners. Hopefully, this article helped you in deciding if Hoboken is the right city for your business.