Since its founding, Boston has been a pivotal city for almost all things American, ranging from economics to overall culture. With a bevy of prestigious universities, innovative tech companies, and medical facilities, it’s no secret that Boston is an attractive place for many businesses to thrive. But what makes Boston such a hotbed for ideas and industry? After picking up our practice from California and bringing it into the heart of Boston, we decided to ask some of the local businesses in the area, ranging from large companies to local shops, just exactly what is this winning formula.
1. From an economic perspective, what makes the Greater Boston Area a lucrative market for businesses?
Joanne Chang | Flour Bakery – 131 Clarendon St., Boston, MA 02116
“We have an ever changing and growing population of young consumers with all of the colleges and universities in the area.”
Va
nessa DiMauro | Leader Networks – 92 Richmond Road, Belmont, MA 02478
“Boston is a very innovative and collaborative town to do business in. Due to its relatively intimate size, there are strong relationships that fuel the local business scene. Also, because of the strength and sheer number of our universities, there is no shortage of youthful innovation. From startups to staff, Boston offers a Millennial marketplace.”
Greg
Raiz | Raizlabs – 50 Milk Street, 19th Floor, Boston, MA 02109
“For a technology company like ours, Boston is nowhere near as expensive in terms of rent for our company and cost of living for our employees than a place like Silicon Valley. Despite this, there are just as many smart and talented people in this city. The access to capital in terms of venture and private equity is easier in Boston compared to most major cities, as most VC and PE firms are located (or have major offices) in Boston.”
Olive
r Mak @bdgastore | Bodega – 6 Clearway Street, Boston, MA 02115
“The extensive higher education network brings a huge population of the brightest minds to Boston and also insulates the local economy.”
Jeff
Avallon @IdeaPaint | IdeaPaint – 40 Broad Street, Boston, MA 02109
“For starters, we are a city that is dedicated to innovation and the startup community. From the mayor’s office to the greatest colleges in the world, to a thriving venture capital eco-system that is NOT just tech focused, Boston has established itself as a powerful city to start your business.”
2. What are some of the best perks of working in the Greater Boston Area?
Joanne Chang | Flour Bakery – 131 Clarendon St., Boston, MA 02116
“Small city makes it easy to get around, great food scene.”
Vanessa DiMauro | Leader Networks – 92 Richmond Road, Belmont, MA 02478
“Boston offers the utmost of intellectual cool and funky areas to explore and set up shop. Each neighborhood has its own, unique culture and focus area. For example, the newly developed waterfront area is a great mix of offices, food and entertainment; Cambridge is home to some of the top pharma firms in the world; Longwood area in Boston equals medicine, and the outskirts such as Burlington and Waltham attract a wide variety of high tech, robotics as well as traditional firms as well.”
Greg Raiz | Raizlabs – 50 Milk Street, 19th Floor, Boston, MA 02109
“Winning sports teams, of course! Boston is a small city in terms of physical footprint, making just about everything very accessible via public transport, walking, or biking. It’s also a very young city because of all the colleges and universities here in town, and this provides for a great vibe — there’s always something to do.”
Oliver Mak @bdgastore | Bodega – 6 Clearway Street, Boston, MA 02115
“Access to nature in a walkable city which has recently turned its eye towards tech and innovation.”
Jeff Avallon @IdeaPaint | IdeaPaint – 40 Broad Street, Boston, MA 02109
“It all starts with a strong community, and I think Boston has that in spades. We all tend to help one another in the startup world, so for me, that has been an incredible experience. Also, we have access to the ocean, the mountains, spectacular seasons…and RECORD BREAKING SNOW! How can you not love it? It’s also a walking city and rapidly becoming a biking city. You can get to 3-4 different neighborhoods if you start in the middle of the public garden. And, the Charles River is one of the coolest places to ride/run/hang out any time of year.”
3. What is an essential piece of advice before moving a business into the Greater Boston Area?
Joanne Chang | Flour Bakery – 131 Clarendon St., Boston, MA 02116
“Understand how challenging parking in Boston is.”
Vanessa DiMauro | Leader Networks – 92 Richmond Road, Belmont, MA 02478
“Before choosing an office location, a firm would be well served to drive the commute from the CEO’s house to potential office locations during rush hour as actual driving time can vary widely and no one wants to surprise their executive with a lengthy trip into the office.”
Oliver Mak @bdgastore | Bodega – 6 Clearway Street, Boston, MA 02115
“Get some good boots and a heavy jacket.”
Jeff Avallon @IdeaPaint | IdeaPaint – 40 Broad Street, Boston, MA 02109
“I think reaching out to the community in your space/sector to get insights about what to expect and to connect with the people who can help get your company into a greater conversation is key. Boston is very welcoming and especially in the startup community- the more great ideas we can launch from here, the better.”
4. What is one drawback of doing business in the Greater Boston Area?
Joanne Chang | Flour Bakery – 131 Clarendon St., Boston, MA 02116
“If you drive in Boston it’s hard to get around because of traffic and parking.”
Vanessa DiMauro | Leader Networks – 92 Richmond Road, Belmont, MA 02478
“In a single word, winter.”
Greg Raiz | Raizlabs – 50 Milk Street, 19th Floor, Boston, MA 02109
“Some claim that Boston has a brain drain. There are so many top colleges and universities in the Greater Boston Area that it would be impossible for all of the students to stay in the city after graduation. Some leave, and some stay. Boston still is one of the most intelligent cities in the world.”
Oliver Mak @bdgastore | Bodega – 6 Clearway Street, Boston, MA 02115
“Entertainment licensing and nightlife is still lagging behind what it could be. There is incredible potential, but the city has to get behind it.”
Jeff Avallon @IdeaPaint | IdeaPaint – 40 Broad Street, Boston, MA 02109
“The competition for getting the best talent is pretty fierce here. We have a new wave of students graduating from some of the best programs in the world and everyone wants to grab them. We also have companies growing at rapid speeds so the need to get MORE talent fast, is just as challenging.”
5. What makes the business environment in the Greater Boston Area unique?
Joanne Chang | Flour Bakery – 131 Clarendon St., Boston, MA 02116
“It’s essentially a small city – easy to network and get to know people!”
Vanessa DiMauro | Leader Networks – 92 Richmond Road, Belmont, MA 02478
“Welcoming, friendly and network driven, the Greater Boston area is especially connected compared to many other regions. We develop strong trust bonds among our business leadership and remain collaborate and connected throughout our careers. If a firm were to move to the Boston area, take time to participate in local networking events, attend meetups and leverage professional clubs and associations to make the most of the move.”
Greg Raiz | Raizlabs – 50 Milk Street, 19th Floor, Boston, MA 02109
“Boston tends to have a very cutting-edge and innovative economy at its core. In terms of people, Boston is one of the most intelligent and educated cities in the world.”
Oliver Mak @bdgastore | Bodega – 6 Clearway Street, Boston, MA 02115
“The vibrant student economy.”
Jeff Avallon @IdeaPaint | IdeaPaint – 40 Broad Street, Boston, MA 02109
“It’s a very diverse community. You get so many different flavors of business here. At any given time you can go over to Mass Challenge/HarvardILab/MIT Entreprenur Center and see 100’s of business ideas that are so different. We are not just a tech destination….it’s so much more than that.”