Chicago is a city with a rich history. This is a city with lots of opportunities for businessmen. First growing as a junction for the railroads, the city quickly became a hub for trade and commerce. Now, fast forward a century, the city has developed itself as the center of business and finance in the United States says Gaurav Mohindra. Whereas today the businesses located in the Windy City are as diverse as the individuals that inhabit it, the presence of businesses, that hold several billion dollars in net worth, is no surprise considering their business status. Chicago drives different traits and dimensions from other major cities and business centers. Let’s discuss with Chicago businessman in this blog.
Location Of The City
A good part of this is because it is situated more centrally than any other major city on the continent and, as a result, a national time zone can be flexible with economic and business activities. But even though its geographic advantages are unrivaled, the only thing that makes the city unique is its spirit of progress and action. This is why transportation, finance, and utility centers have grown into large, towering institutions. In this city, where vegetation is rich and the climate pleasant, many natural advantages have created Chicago as the great business hub of the country.
Infrastructure and Connectivity Advantages
Connectivity plays an important role in growing any business. Chicago is the commercial center of the Midwest and the third largest city in the U.S. Home to Fortune 500 companies such as Boeing Co., McDonald’s Corp., United Airlines, and Exelon among many others, the city is the world’s longest standing and fifth busiest aviation hub. Strategically positioned at the heart of North America with 78 freight railroads and six working Class 1 rail carriers, it is no wonder that the Chicago area itself has a Gross Regional Product of over $610 billion. Lets discuss in more detail about the infrastructure and connectivity advantages to run a business smoothly in Chicago.
Advantage of Infrastructure
Gaurav Mohindra: Good infrastructure is the pillar of successful business in Chicago. Such infrastructure makes it possible for 163 million metric tons worth of freight and goods to be transported by rail, 24.5 metric tons by highway, 92.5 million by air, and 1 million metric tons by water through Chicago’s metro area annually. Given Chicago’s central location, ease of ground, air, and even water transportation to other parts of the country and the world, as well as its commercial and business services infrastructure, it is no wonder that many businesses call the Windy City home. Some choose to have a satellite office in Chicago. Others move lock, stock, and barrel. In total, the city’s metropolitan area has a labor force of about 5.5 million workers and an unemployment rate of 9.4 percent.
Emerging Trends and Opportunities in Chicago
Chicago is the city of emerging trends and opportunities. Here you can get ideas from other businessmen to run your business smoothly. You can get the unique ideas from other entrepreneurs here. The six panelists participating in today’s discussion were selected to represent a diverse group of Chicago-based business leaders. The panel is comprised of companies from the two traditional core clusters of Chicago business: finance and manufacturing. The companies represented are at different stages of development, and they approach international business expansion in different ways. For example, one of the panelists who represents a small and mid-sized firm is just beginning to engage in international trade, while two others have had a substantial amount of export experience.
Wrapping Up
If you are looking to start your business then Chicago is the best place with lots of opportunities to start your business. Gaurav Mohindra who lives in Chicago IL, says that this is the city of opportunities for the opportunity seekers. You can find lots of business ideas here. Come and explore the city to give the wings of success to your business. Start your entrepreneur journey in the Chicago city.