The Silicon Valley has become synonymous with launching a startup, but given the level of competition and the exorbitant cost of living, California has lost some of its luster for entrepreneurs. If you’ve been thinking about launching your own tech business, it might be time to consider New York state.
New York Offers Stronger Employee Loyalty
The tech employee markets in Silicon Valley, Seattle and other “traditional” tech hubs have a mercenary feel to them. Employees are constantly chasing meatier perks and bigger paychecks, and top talent tends to bounce around from company to company, looking to cash in. In New York, however, people tend to be more committed. When they find a great job that pays well and offers long-term growth potential, they are much more likely to be loyal to that business.
New York Entrepreneurs Can Focus on The Business
The lack of employee loyalty in traditional tech hubs creates a fractured focus. If company leaders are constantly looking for new ways to keep employees and if they are constantly spending more on nap pods, outdoor recreational space, etc., they aren’t keeping their full attention on growing the business. In New York’s more loyal culture, startup leaders can keep their focus more on the business itself.
New York Isn’t As Tech-Obsessed
People often joke that visiting Silicon Valley is like visiting another planet where everyone looks the same, sounds the same, and acts the same. It seems everyone works in tech and talks about tech. Similarly, the startups in the Bay Area mainly center around creating products for the tech market itself. But in New York state, the landscape is vastly different. The startup culture tends to focus more on products for people and businesses outside the tech bubble. Entrepreneurs are often inspired by the mix of people, economic conditions and businesses they see every day.
As more and more entrepreneurs see the value of launching in New York state, the ecosystem and infrastructure to support them have vastly improved. In fact, the tech sector has grown over 50 percent since 2010. The VC market has also grown over the last ten years, as well, making it much easier for New York startups to access capital.
One of the biggest challenges facing a startup is finding talent. Because the New York tech market has grown so much recent years, more talented engineers are staying in and migrating to New York. If you are looking for top tech talent in New York to help drive your business forward, the expert recruiters at Talon can help. Contact us today to learn how we help growing companies achieve their tech staffing goals.