New Orleans Rapidly Becoming a Hub for Start ups

New business ventures in biotechnology, consumer goods, franchise restaurants, and education are sprouting up all over Louisiana which has intensified the battle for New Orleans office space. While this may come as a surprise to many, Louisiana has made a commitment to opening their doors to new investments in a variety of business ventures.

The road back

Many people remember the images of a post-Katrina New Orleans. However since that time, New Orleans has seen a population increase of more than 30 percent over the rest of the United States. While some will always associate New Orleans with Bourbon Street, Mardi Gras and Katrina, small business investors are taking a great interest in New Orleans and its new wave of startups.

Investors are plentiful

Start-up incubators like the Idea Village and Launch Pad have played a significant role in helping grow small businesses in New Orleans. Oftentimes, small business owners face significant challenges when they need to grow. Too often, they find that obtaining financing after they have exhausted their personal savings is far more challenging than they thought. These funding sources help bridge that gap: they help business owners grow from a very small start-up business to a small, successful business ready to seek financing from other sources.

The current climate in New Orleans is also attracting others who are interested in making investments. While Katrina devastated many public facilities, including schools, private companies are now working with the city of New Orleans to help develop new schools, teaching technologies, and classroom materials.

Built to last

Business zones such as Silicon Valley often go through peaks and valleys. When this occurs, all businesses in these zones have swings up or down depending on the economic climate. These types of swings can have a devastating impact on the local economy causing a loss of jobs, tax receipts and empty real estate. The advantage of the business zones developing in New Orleans is their diversity. This type of diversity means that no single industry suffering a setback will have a devastating impact on the community.

Continuing a tradition

Smoothie King, Popeye’s, Louisiana Kitchen, Ruth Chris Steakhouse, PJ’s Coffee, WOW Cafe and Wingery all got their start in South Louisiana.  These companies started and thrived in this environment and new businesses are continuing this great tradition of entrepreneurship. With the growth currently going on in New Orleans, new investors, new businesses and more entrepreneurs are likely to be attracted to this area.

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