Nestled below the San Gabriel Mountains, Pasadena is a thriving and attractive city which offers an excellent quality of life to residents. Downtown Los Angeles is just a stone’s throw away, but with its scenic vistas, rich architectural heritage and bustling stores, Pasadena offers a quieter haven.
Unsurprisingly this has made the city a magnet for small businesses which are looking for a base from which to offer their services. If you are tempted by the vibrancy of Pasadena, you’ll be in great company as it is home to many major players in the world of finance, healthcare, engineering and academia. Set up here and you’ll be working alongside ACCO Engineering Systems, OpenX and the Bank of America, as well as leading education providers such as the ArtCenter College of Design and the Carnegie Institute of Science Observations.
A hub for all types of industry
Taking the first steps towards launching your own business can feel like a risk, but being in such great company should provide a degree of reassurance about the potential for success here. Moreover, the City of Pasadena is just as committed as you are to driving forward new areas of commerce and it provides practical help through a suite of business services.
Pasadena supports small businesses
COVID-19 has had a significant impact on the ability of small businesses to sustain themselves and, in response, the county of Los Angeles launched the Small Business Stabilization Loan Program. Alongside the larger county program, the city also established its own support network with the Pasadena Community Foundation. This not-for-profit scheme was created to oversee a fund set up to support small businesses.
Aimed at keeping local companies afloat during the crisis, it offered grants of up to $10,000 to make up for the decline in revenue which many independent traders experienced. The focus was specifically on maintaining small businesses which brought diversity to the city and were not part of a larger chain of stores. When it was time to make a claim, companies which made a point of hiring local people were sent to the front of the queue.
Set up by the city’s Department of Finance, a second scheme to support local companies is the Buy Local initiative. It works with the city’s various departments, encouraging them to give local companies priority when it comes to obtaining services or goods through a contract.
Living standards here are exceptional
From reliable travel options to good city management and excellent schools, Pasadena offers you the opportunity to pursue a business idea in great surroundings. Travel is also effortless and has been enhanced recently with the Metro Gold Line, making it even easier to reach South California, Greater Los Angeles and destinations further afield. That means both you and your employees will benefit from a good standard of living in a safe city, a factor which could become critical to your success.
Make charitable giving a part of your business ethos
A high turnover allows you to give something back and improve the lives of people in your community. Businessman Patrick James of Trico is the owner of the First Brands Group, a globally renowned manufacturer and supplier of automotive parts, based in Cleveland, Ohio. In his blog, he touches upon the importance of private charitable donations for hospitals and shelters but also some universities and colleges. His company has contributed $25,000 to the Good Neighbor Settlement House in Cleveland, helping people in the community served by First Brands Group enjoy a more secure future. This type of philanthropic work is a great way to support worthy causes, but it can also increase your presence and engagement levels with local people.
Your business has access to a highly educated workforce
When people come to study at one of the city’s research institutes or colleges, many of them choose to stay on and make Pasadena their home. This means your future employees will be drawn from a pool of well-educated, highly motivated people. Indeed, 85.5% of over 25-year-olds who live in Pasadena graduated from high school and 45.6% earned a bachelor’s degree or a higher qualification. From a workforce which is made up of around 100,000 people, 60% are engaged in professional, technical, clerical, sales and managerial roles. A further 20% work in industry or manufacturing and 15% are in the service industry.
A vibrant and scenic destination
New businesses always require a huge deal of investment, not just financially but in terms of time and effort. If you’re ready to take the plunge and are tempted by what Pasadena has to offer, take a look at the city’s Economic Development Department website. Here you can browse a wealth of free resources, read business profiles and learn more about upcoming events to find out what to expect once you’re here. With a skilled workforce, growing economy and dedicated business services, there is no doubt that Pasadena has business appeal.