Rich in history and creativity, Memphis in Tennessee, stands as a cultural beacon. As the birthplace of blues and a pivotal player in civil rights history, the city combines Southern charm with an energetic spirit. Its culture is a dynamic blend of music, food, and community, deeply rooted in tradition yet open to constant evolution and new ideas. Memphis embraces diversity and celebrates its heritage while fostering a thriving, forward-thinking environment.

Is Memphis Culturally Diverse?

Yes, Memphis is a thriving hub of cultural diversity. With a rich mix of African American heritage, immigrant communities, and artistic innovation, Memphis fosters an environment where everyone can feel at home. The city’s cultural scene reflects this diversity, from the entertainment district on Beale Street to festivals celebrating global traditions.

Memphis Culture Today

Memphis continues to evolve as a vibrant, modern city while honoring its roots. Newcomers and locals alike contribute to an ever-changing cultural landscape. Whether you’re looking for soul music, authentic southern soul food, or community-centered events, Memphis offers a little bit of everything.

Main Cultural Activities in Memphis

Music

Music is as ingrained in Memphis culture as just about anything else. Blues is part of the fiber of Memphis, and yet rock ’n’ roll, country, jazz, and just about every other form of music also beats through the city’s lifeblood. Whether you’re a fan of Elvis, B.B. King, or even Justin Timberlake, you’ll be interested to know that some of the biggest names in music history spent time in Memphis, were born in Memphis, or recorded influential albums in Memphis.

Walking down the street, you’ll always feel the music. Just about every bar, club, restaurant and other nighttime destination has some kind of live music going on. From local musicians to traveling acts, there’s no shortage of musical activities to take in.

Amazing Food

Memphis is one of the great food scenes in the country. Yes, it is best known for its Memphis-style barbecue, but there’s so much more to discover. As the melting point of the North and the South, you’ll find everything from fried chicken and waffles to Chicago-style pizza. Each restaurant has its unique take on varying styles, and while the city might not be as big as Los Angeles or New York, you’ll find nearly just as many food opportunities. Many of these food destinations came from people’s love of working with food and their backgrounds. It is this personal background and connection with food that makes Memphis what it is.

Major Events

Memphis puts on events unlike anywhere else. When the city wants to put on a party or a major cultural event, it’s truly special. It’s also a fantastic way to highlight what makes the city so amazing. 

Some of these major events are:

1. Riverbeat Music Festival: This lively festival brings together local and national music acts for unforgettable performances by the Mississippi River. It’s the perfect spot to enjoy live music and the iconic Memphis vibe.
   
2. Crosstown Concourse Events: From art exhibitions to film screenings and community discussions, Crosstown Concourse serves as a hub for cultural engagement. The events here offer a modern take on Memphis’s artistic and creative spirit.
   
3. Cooper-Young Festival: This annual neighborhood festival celebrates art, music, and food, attracting thousands of visitors to one of Memphis’s most eclectic and historic districts.
   
4. River Arts Fest: Immerse yourself in the creativity of Memphis at this juried fine arts festival. With live performances, artist demonstrations, and a vibrant atmosphere, it’s a must-visit for art lovers.

Of course, if you’re looking for an event that centers more on food than a blanket cultural event, you’ll want to make sure you’re in town for the World Championship Barbecue Cooking Contest. You also might want to take the long walk home after it, because you’ll be so stuffed with all the delicious mouth-watering BBQ served up here.

Literature: Take a Look; It’s in a Book

You don’t need to watch Reading Rainbow to know the importance of opening a book. Here, you’ll find some of the world’s greatest works of make-believe and fantasy, of truth-telling and documentation. Memphis is home to several important novelists, and you can often visit to take in some of the locations that helped shape these important visions.

Shelby Foote, for example, is one of the most important Civil War historians of the time. If you are a Civil War buff, chances are you’ve read something by Shelby. And you don’t need to be a bookworm to have heard of the name John Grisham. Some of the best-selling novels over the past several decades have been penned by Mr. Grisham. There’s a reason why so many of his books focus on Memphis and the surrounding areas: because he hails from the region. So if you’re looking for literature featuring Memphis, make sure to check out the latest John Grisham.

Memphis also celebrates contemporary voices like Tara M. Stringfellow, whose critically acclaimed works, including Memphis: A Novel, dive deep into the cultural fabric of the city, weaving personal and collective narratives that reflect its soul. Her storytelling adds a modern perspective to the city’s literary heritage, making her a must-read for anyone interested in Memphis’s evolving identity.

If you’re looking for a spot to find Tara M. Stringfellow’s books, the latest John Grisham, or to read up on Shelby Foote, Memphis offers a variety of local bookstores and public libraries.
Some standout bookstores include:

• Novel: A modern bookstore and community space offering a carefully curated selection of books along with a charming café.
  
• Burke’s Books: One of the oldest independent bookstores in Memphis, Burke’s is a treasure trove for readers seeking everything from rare finds to contemporary bestsellers.
  
• The Book Juggler: A quirky spot for book lovers, specializing in used books and unique collections perfect for all tastes.

Memphis also has a number of public libraries. These destinations bring not only books but also a variety of social programs to residents. Some of the notable branches include:

• Poplar-White Station Library: A favorite for those in East Memphis looking for a quiet reading spot.
  
• Cossitt Library: Located near the Mississippi River, this historic library offers programs and a cozy space for readers to immerse themselves in their favorite genres.
  
• North Branch Public Library: Serving the northern part of the city, this branch is a community hub with activities and a wide range of reading materials.

With over a dozen library branches and numerous independent bookstores across the city, Memphis provides countless opportunities for readers of all ages to connect with the written word and explore its rich literary heritage.

Get Outside and Experience Memphis

Memphis is all about getting people outside to enjoy life. From the Delta Fair to music festivals, there is something going on outside just about every single weekend of the year.

• Shelby Farms Park: A sprawling green space offering biking, horseback riding, and paddleboarding.
  
• Overton Park: Home to trails, art galleries, and a golf course.
  
• Big River Crossing: Perfect for walking or biking with stunning views of the Mississippi River.
  
• Memphis River Parks: This revitalized riverfront area features scenic trails, public art, playgrounds, and picnic spots. It’s a great place to relax or take part in seasonal events along the iconic Mississippi River.
  
• The Greenline: A 10.65-mile-long urban trail connecting Midtown to Shelby Farms Park, offering a serene path for cyclists, joggers, and walkers.

There’s a Cultural Event Perfect for You in Memphis

The beauty of Memphis culture is that it’s always changing. The makeup of the city now will be different 10 years down the road. While Memphis will always pull from its music, food, and civil rights heritage, there are new faces, new ways of life, and new ideas constantly flooding in.
So if you’re looking for a destination to call home that will both surprise you and keep you on your toes, there is no other place in the country like Memphis.

Memphis hosts events that bring the community together and showcase its diverse heritage:

• Riverbeat Music Festival: A lively festival by the Mississippi River that celebrates local and national music talent.
  
• Overton Park Shell Free Concerts: Enjoy open-air concerts at the historic venue where Elvis first performed.
  
• Art & Soul Festivals in Memphis:
  • Cooper-Young Festival: A neighborhood celebration of art, food, and music that attracts thousands of visitors to this eclectic historic district.
    
  • River Arts Fest: A juried fine arts festival featuring live performances, artist demonstrations, and a vibrant atmosphere.
    
  • Crosstown Concourse Events: From rotating art exhibitions to film screenings and cultural discussions, Crosstown Concourse offers a modern spin on Memphis’s creative spirit.

Memphis is more than a city; it’s an experience. From its historical significance to its modern creativity, Memphis culture invites everyone to be part of its story. With so many activities and attractions, Memphis is truly a place where music, food, and people come together to create something extraordinary.

You may also be interested in: Why Do Black People Wear Braids? History & Culture

The post What’s the Culture Like in Memphis, Tennessee? appeared first on We Are Memphis.

Is Memphis a Good Real Estate Market?
Absolutely. Memphis stands out as a top-tier real estate market for investors, thanks to its affordability and potential for high cash flow. With median home prices around $85,900 and values projected to grow, the Memphis real estate investment opportunities are unmatched. The city’s strong job market, fueled by major employers like FedEx, AutoZone, and International Paper, ensures a steady demand for single-family rental properties and multi-family units alike.

Buying a Home in Memphis

Guide to Buying in Memphis
Purchasing Memphis homes offers several advantages for buyers of all experience levels:

• Affordability: Memphis is one of the most affordable markets in the U.S., making it ideal for first-time buyers and seasoned investors. Lower home prices mean buyers can achieve a better return on investment with less initial capital.
• Emerging Neighborhoods: Areas like the Edge District and projects like One Beale showcase the city’s growth, offering excellent opportunities for both living and investment.
• Cost of Living: Memphis has one of the lowest costs of living in the country, with no state income tax and affordable housing costs. This makes owning a single-family home in Memphis even more appealing.

Are Home Prices Dropping in Memphis?
While some areas have seen minor fluctuations, home sales remain strong, and overall, Memphis Tennessee real estate market trends indicate continued stability and growth.

Selling a Home in Memphis

Guide to Selling in Memphis
Selling a property in Memphis is a lucrative opportunity due to the market’s high demand and limited supply. Here’s why:

• High Demand: Memphis’s job market and affordable lifestyle create consistent demand for single-family and rental properties.
• Market Support: Partnering with a reliable realtor can enhance the sale process by ensuring your property is well-maintained and marketed effectively.
• Competitive Pricing: Strong home sales trends make it easier to attract buyers willing to pay top dollar for properties in Memphis.

Investing in Memphis Real Estate

Why Invest in Memphis?
Investing in Memphis real estate provides some of the highest potential for cash flow and long-term wealth generation.

• Rental Market Strength: Memphis has a high percentage of renters, making it a prime location for investment property owners seeking reliable tenants.
• Economic Growth: With $16 billion in development projects underway, the city’s economy and infrastructure are expanding, boosting demand for housing.
• Support Services: Partnering with a reputable property management company can ensure a seamless investment experience, from tenant placement to maintenance.

Memphis Real Estate Trends

• Tennessee Home Prices: While prices across Tennessee have seen minor adjustments, home prices in Memphis remain steady, reinforcing the city’s reputation as a stable and lucrative market.
• Hottest Market in Tennessee? While Nashville currently leads in volume, Memphis offers better affordability and higher return on investment, making it a strong contender for investors.
• Cash Flow Opportunities: Memphis is renowned for its cash flow potential, with rental yields that often exceed the national average, providing consistent income for investors.

Why Choose Memphis for Real Estate?

Memphis offers a dynamic mix of affordability, growth, and community appeal. With its strong rental demand, affordable home prices, and thriving neighborhoods, the Memphis Tennessee real estate market is ideal for those seeking high returns and long-term value. Whether you’re exploring investment property, looking to buy a home, or planning to sell, Memphis is the city where opportunities abound.

Is Memphis Up and Coming?
Yes, Memphis is evolving rapidly, with developments like One Beale and the Edge District transforming the cityscape. These projects are attracting both residents and investors, making Memphis real estate investment a smart choice.

You might also be interested in: Memphis Property Tax Rate | Calculate Property Taxes

The post Memphis Real Estate: A Comprehensive Overview appeared first on We Are Memphis.

Memphis is a city unlike any other. It has city amenities and opportunity, but with a hometown feel, making it the perfect place for up-and-coming talent to find community, build a network, and get involved. With an easily accessible region and rich higher education institutions within Memphis proper, this city is bustling with eager students and thought leaders ready to contribute.

Creating a business begins with an idea. Running a successful business depends on location. Without the right location, your business may never take off and receive the kind of exposure it deserves. It may never connect with the right audience, and you may not find the right employees to help make it happen.

You need a city that offers you a top tier of workers and yet doesn’t cost a fortune to move into. You need a city with a thriving population and yet a location where your business will stand out. You need a city like Memphis.

Memphis has positioned itself as one of the premier professional environments in the region — and in the entire country. With a young and growing workforce, you have access to every line of professional you need to help get your company off the ground, from trade professionals such as licensed electricians to young college graduates who are excited to move forward into the professional world.

Like any other city, Memphis has policies and programs in place for entrepreneurs and achievers. Unlike any other city, Memphis is committed to seeing that success become a reality and constantly makes improvements to ensure a more opportunistic environment. Don’t believe us? Here’s the proof.

Talent

Young professionals see cities like Memphis as a great place to plug and play, and that’s why Forbes recently ranked Memphis at No. 4 on its “Happiest City to Work in Right Now” list. The millennial scene in Memphis is vibrant and fun, with organizations like Choose901, Undercurrent and New Memphis Institute that are committed to connecting people and building relationships.

Our Memphis workforce is young and growing—more than 1,700 millennials moved to the city in 2015, putting workers’ median age at just 35 years old. The Greater Memphis Chamber offers grants and incentives to find, hire and train local employees, while a strong educational community of colleges, universities and technical training schools provide quality opportunities for professional training and development in everything from service industries to tech.

Cost of business & living

Tennessee has no property tax or state income tax on wages and has the second-lowest local and state tax burden per capita. Additionally, Memphis’ economic development partners offer tax incentives to businesses relocating to or expanding in the region.

Aside from a business-friendly tax environment, the cost of living in Memphis is consistently at least 12% lower than the national average. This means that, in addition to your money going farther in Memphis, top talent can move here, make money, and still have the income to live the life they want. That’s why Realtor.com ranked Memphis third on their list of where millennials are most likely to buy homes.

Infrastructure

Strong infrastructure is a vital component of business success, and Memphis is one of the nation’s premier supply chain hubs. Whether you require runways, railways, riverways or roadways, you’ll be able to make your mark in Memphis.

Entrepreneurial environment

With giants like FedEx and AutoZone headquartered here and direct access to water, air, and rail, Memphis is widely known as a leader in global commerce and logistics. But what you may not know is that those Fortune 500 companies and other corporate giants in Memphis continue to give back and foster a highly networked B2B community of incubators, accelerators, and start-up support programs. Epicenter is the hub of the Greater Memphis entrepreneurship movement, Bioworks is the Mid-South’s go-to organization for creating companies, jobs, and investment in bioscience and sustainability, Leadership Memphis prepares and mobilizes leaders to work together – the list goes on and on for opportunity in Memphis. In fact, Inc. ranked Memphis at the top of their opportunity index for entrepreneurs in the Nov. 2017 print issue, and Blacktech Week ranked Memphis the best metropolitan area for black-owned companies in 2017.

Memphis is also an ideal place for creatives: the local non-profit arts industry in Memphis drives $197.3 million in annual spending and supports the equivalent of more than 6,100 jobs; Memphis was designated as a ‘Maker City’ by Etsy. For individuals seeking a supportive, entrepreneurial environment, now is the time and Memphis is the place.

Diversity and inclusivity

A conversation about entrepreneurship wouldn’t be complete without mention of WMBEs (Women and Minority-owned Businesses and Entrepreneurs), and no city is more aware of that than Memphis. While there’s still a long way to go to achieve a level playing field, Memphis supports programs and initiatives that work towards creating a more inclusive business environment.

Memphis-based programs like the Supplier Diversity Collaborative are designed to help Memphis small businesses succeed. Through these programs, the heads of minority- and women-owned businesses learn to increase sales via corporate connections and community development, then leverage this success to engage with private-sector companies. The collaborative guides companies through the MWBE certification process, after which they are listed in the MWBE catalog—a database that makes it easier for corporations to find and buy from MWBEs.

Similarly, the MMBC Continuum is an economic accelerator that helps qualifying minority- and women-owned businesses form partnerships with major corporations. With additional support from the Chamber and City Government, Memphis has ambitious goals of increasing the number of – and, more importantly, scaling – MWBEs by hundreds on an annual basis.

To address gaps in the workforce that ensure individuals are growing and scaling alongside businesses, the Memphis business community approaches workforce development as a team. The approach is four-fold: Memphis Works connects businesses and potential workers; the Workforce Investment Network provides the training, skill development and education that prospective employees need to become part of the local workforce; the Greater Memphis Alliance for a Competitive Workforce focuses on long-term workforce development by identifying skill gaps and creating targeted training and education; and the Mid-South Quality Productivity Center partners with Southwest Tennessee Community College to offer consulting and training services to business owners.

By tackling entrepreneurial disparity head-on, Memphis is actively creating pipelines to success for issues that cities across the nation struggle with.

Accelerating

Memphis is home to Start Co., a startup incubator that provides new businesses with the capital, guidance, and discipline to find the investors and facilities they need. Via three different accelerators focused on B2B, ed tech, and women-led startups, Start Co. has graduated 55 startups, with a 75% follow-on funding rate and $18 million raised in investments.

ServiceMaster, the national home services company based in Memphis, is getting in on the startup action as well. In June 2017, ServiceMaster opened the doors to Ground Floor, an Innovation Center in downtown Memphis that consolidated its offices to a single headquarters in a former mall and also created a collaborative workspace.

“Innovation often isn’t this clean, nice bolt of inspiration,” noted ServiceMaster CIO Jamie Smith. “Innovation’s more about having the grit to see that idea through into the world. I really can’t think of a place better than Memphis, the city that had the audacity to create something as disruptive as rock ‘n’ roll and to challenge the monopoly of the postal service.”

Memphis serves as a hub for innovation in highly lucrative fields, giving large corporations opportunities to plug into talent while giving back.

Entrepreneurs looking to help entrepreneurs

Memphis is a different animal from other cities. If you look at larger destinations like New York or Chicago, you need to be both great and lucky to survive. One of the reasons we love conducting business in Memphis is because you don’t need to be lucky. You just need to have a good idea and a strong work ethic. Everything else falls into place.

The city’s strong entrepreneurship community is always on the lookout to help prop up new businesses. Members of this community understand the struggles of starting a new business, and yet they also share the excitement of getting hands in the dirt and building a company from the ground up.

In Memphis, there are always other professionals out there you can bond with. Here, it’s more than professional networking. Yes, you have the ability to forge strong relationships with these other business leaders, but often it’s more than just a professional relationship that is created. There is a drive to assist wherever possible. Because business owners understand what it takes for their own company to thrive, they need others to thrive as well.

Thriving businesses bring in more workers and help to grow the community. So if you’re interested in such a business presence, Memphis is the place for you.

Memphis continues to shape the world

Memphis is known for its music and its food. Yet the city has so much more to offer than just entertainment and a satisfied stomach. It wants to reshape the way small businesses work. That is why the city is set up to assist people who own small businesses — the individuals who are looking to create startups fueled by long nights, coffee and passion. While every business starts with a great idea, many need help along the way to turn the idea into a reality. This is where the city of Memphis comes in.

It all begins with a location

No matter how great an idea is, a business will not thrive if it isn’t in the right location. Without the support of the local community, the budding idea will die before it ever has a chance to take off. Memphis wants to give entrepreneurs everything they need to cultivate the idea and turn it from a dream into a reality. That is why the city has become one of the premier destinations for small businesses in the entire country.

The city is already a great location for individuals looking to not only create a local business, but a regional company. With its position along the Mississippi, Memphis can be quickly reached from cities like Atlanta, Chicago and Cleveland. This makes it easier for a company to grow and thrive. Yet beyond just the geographical location of the city, Memphis itself offers more to local businesses and startups than most other cities in the country.

Resources needed to thrive

Memphis has the thriving talent pool of a large city yet offers the lower costs of a smaller community. Additionally, the state of Tennessee doesn’t have state income tax and has a low property tax rate, making it an affordable option compared to most competing states. When a business starts up, the more money it can save, the more money it can pump back into itself. Because of a number of city- and state-based grants for startups and new businesses, it is easier to get a company off the ground in Memphis than almost anywhere else.

Help Is All Around You

Any business owner will tell you there’s so much work that goes into running a business. The term “small” business isn’t exactly fair to you. While you might be smaller than the large corporations, it doesn’t represent the sheer amount of work that goes into it.

Thankfully, the city of Memphis is behind you and can offer a number of ways to help you out. You can check out the Greater Memphis Chamber to pick up information on opening a small business. Here you’ll find valuable resources to connect you with data on local laws and requirements. It can also help connect you with the right outlets for avoiding potential pitfalls.

There is the Business Development Center as well, which is run by the City of Memphis. It provides you with counseling and guidance in starting up a business. One of the best ways to run a successful company is to know someone who has run both a success and a failure as they will tell you want you should and shouldn’t do. Not everyone has that kind of access, but at the Business Development Center, you do.

You also have the Tennessee District Office and U.S. Small Business Administration located in Memphis. The SBA can help you on a state and federal level for opening a business, including connecting you with small business loans and other development assistance.

There is plenty of help around Memphis. These are just a handful of the available organizations.

Finding Your Mentor

The varying business associations around Memphis are great resources for educating you on running a business. However, there’s still nothing like having a mentor from a successful company giving you tips and insights. Memphis Score can help you with this.

The Memphis Score Organization is an outlet for small business owners looking to better educate themselves and prepare themselves for success. Through the website you can find a mentor who is willing to take you under their wing and show you the ropes.

You can also take in a workshop put on by Score, or you can even read up on the latest Memphis business news and information through the Memphis Score blog. The blog itself is a helpful tool providing you with information that is not only timely and fresh, but specific to you as an entrepreneur.

See What’s Working

One of the best ways to know how to run a business, or at the very least get a better understanding of what is working, is to get out there and take in local small businesses. Stop by and look at what generates customers. Note ideas you like or things you don’t like. You can then implement some of these ideas into your own business. One of the best times to do this is during Small Business Saturday, which is a shopping day put on at different times of the year and is designed to highlight local small businesses.

Bring your ideas

Solo practices, family enterprises, maker businesses and startups are the lifeblood of the Memphis business community, while a low cost of living and moderate home prices make the area attractive to a robust workforce. Small businesses thrive in Memphis, and we welcome you to join our network of doers, dreamers, makers, and believers.

To learn more about how Memphis supports entrepreneurs, check out our partner websites:

• Memphis Works
• MMBC Continuum Memphis
• Greater Memphis Chamber
• Start Co.
• ServiceMaster
• Made By Project

The post Your Guide to Becoming a Entrepreneur in Memphis! appeared first on We Are Memphis.

Yes, there is no shortage of reasons why Memphis is a great place to live. But what about affordability? With the cost of living skyrocketing is bigger cities like New York, San Francisco, and Atlanta, and popular cities like Nashville experiencing their own cost of living crisis, now more than ever is the time to think about how to stretch your dollar.

The cost of living in Memphis is roughly 21% lower than the national average. That number gets even more impressive when you start comparing it against other cities. Like Atlanta – 41.4% more expensive than Memphis. Or Nashville – 33.4% more expensive than Memphis. We’ve even ranked above cities like Chicago, D.C., Philadelphia and more.

Because the Memphis cost of living is so much lower than the rest of the country, you can make the most of your money. By living in Memphis, you can spend your money on experiences you wouldn’t otherwise be able to afford. Or maybe being a homeowner is something you’ve always wanted but couldn’t dream of doing in a bigger city – that dream can become a reality in Memphis.

Less Commuting, More Living

How’s that rush hour traffic treating you?

Memphians spend only 21.7 minutes on a one-way commute compared to the national average of 26.4 minutes. But compared to other cities, we’re living the dream: head-to-head with Chicago, Atlanta, and Dallas, Memphians save 40 hours annually just through shorter commutes. Poor New Yorkers: they spend a soul-crushing 80 extra hours annually getting to and from work.
Woof. We’ll pass. There’s got to be a better way. And there is—we’re out here living it.

Exceptional Entrepreneurial Spirit

Sure, anyone can start a business. But, in Memphis, we build empires. Our city’s grit and grind attitude isn’t just responsible for bringing new ideas to life, but it also takes entrepreneurship to new heights.

Don’t just take our word for it. As our city distinguishes itself as an exceptional place to launch a business, the world’s taken notice.

From top-tier organizations, like Afrotech, highlighting Memphis as one of the Top Markets for Black Entrepreneurs to national media outlets celebrating our locals’ innovative concepts, Memphians aren’t just front and center on the world’s stage—they’re setting trends, making change, and blazing trails.

A Leading Tourist Destination

Looking for a place to live that your family will want to visit all the time? Look no further, moving to Memphis is right for you. Memphis is one of the world’s leading tourist destinations, with more than 12 million people visiting each year to explore over 60 different attractions – and the list keeps growing every day. An award-winning zoo, international festivals and competitions, professional sports teams anchored by NBA giants, and much more.

A Spirit of Generosity

More and more, people are prioritizing philanthropic efforts in their jobs and personal life. It’s not enough to do well and climb the ladder anymore, people – especially young professionals – want to know they’re making a difference and giving back. This is part of what makes Memphis a great place to live. In The Chronicle of Philanthropy Memphis is ranked the most giving city in America. People and organizations alike are giving their time, money, and energy to philanthropic causes, and it’s part of what’s driving an exceptional quality of life here in the Bluff City. Among the 50 largest regions in the U.S., Memphis is #1 in the number of non-profit organizations per 10,000 population. That means if you’re in the business of helping others, Memphis is the place for you.

A Thriving Place for the Arts

One of the greatest culture amenities big cities have is their arts scene, but moving to Memphis doesn’t mean you have to sacrifice that. Unbeknownst to many, Memphis is actually a hidden gem for the arts, offering a variety of cultural institutions to soothe the cravings of any art-lover. In fact, Memphis has year-round access to some of the most diverse art institutions in the country. Ballet Memphis boasts one of the most diverse dancer populations in the country, Hattiloo Theatre is the only freestanding Black repertory theatre in five surrounding states – the list goes on. From museums and performing arts to local galleries and exhibits, there’s something new to see or experience everywhere you look.

Unparalleled Music History and Scene

Whether you realize it or not, Memphis changed how the world hears music, and no discussion about Memphis would be complete without noting its most legendary and iconic music scene. Some of the world’s greatest musicians of all time have called Memphis home. From Elvis Presley and B.B. King, to Three 6 Mafia, Valerie June, Justin Timberlake, and Julien Baker, moving to Memphis means joining a community rich in musical history. And while there’s no shortage of history to learn about Memphis’ music scene, there’s also no shortage of contemporary music to hear and experience either. Memphis is a mecca for musicians, and as a resident of this city, you can expect to hear some of the greatest sounds pouring out of a bar on any given night. Outdoor concerts, open mic night, intimate house concerts, free shows in the park – Memphis is a music lovers paradise.

Visit our music page for more!

A Foodie’s Paradise

What would a city be without a vibrant and thriving food scene? Whether it’s James Beard Award nominated chefs or a food truck with a cult-like following, Memphis has it all. Part of the fun of moving to Memphis is finding your favorite food spots. There’s the legacy food institutions, like the soul food famous Four Way and world-renowned Rendezvous barbecue, but there are also newer spots popping up every day with unique dining experiences and exquisite food.

A Diversity Powerhouse

In Memphis, “diversity” isn’t just a buzzword—it’s a fundamental part of who we are.

Rather than overlooking our rich Black culture and heritage, we embrace it. We celebrate the Memphis-made music that has inspired worldwide trends for generations. We savor the uniquely Memphian cuisine that makes mouths water across the globe. And we honor the Black entrepreneurship, industry, and activism that has always made Memphis thrive.

We’re also home to a proud and growing Latin(e/x/o) community. They enrich our city with exceptional creative arts contributions, advocacy programs, and entrepreneurship that expands our city with new flavors and style. We proudly amplify their unique stories through Somos Memphis, our partnership with Latino Memphis.

This is just the beginning of cultural representation in our city, which is home to immigrants from more than 20 different countries. Mix it all together with Southern hospitality and soul, and you’ve got Memphis.

We wouldn’t have it any other way.

The post Why Memphis? We’ll Tell You! appeared first on We Are Memphis.

Legendary music scene

As you may have heard, Memphis changed the way the world listened to music, and no discussion about Memphis would be complete without noting the legendary and iconic music scene. You’ve heard about the music giants, like Elvis, BB King, and Otis Redding, but what you may not have heard is that Memphis remains a hub for artists today. From Justin Timberlake to the slew of artists that perform around the city every day, Memphis has a music scene that rivals big cities coast to coast. Pop into any given bar on any given night of the week and you’re bound to hear world-class music. That’s what attracts artists from all over the world to record and perform in Memphis, like Bruno Mars, who recorded and filmed his hit “Uptown Funk” right here in Memphis. And while music may seem like something you can find in any city, it’s deeply ingrained into the culture and celebrated by the people here. If your job brings you to Memphis, you can expect a city culture that’s largely centered around music. 

A thriving place for the arts 

Much like the music scene, Memphis is home to a plethora of arts organizations. From street murals and mosaics to the high arts like ballet and theatre, Memphis has year-round access to some of the best and most diverse artists in the country. And unlike other cities, there’s not an air of pretentiousness surrounding the arts here. In Memphis, you can bring your questions and curiosity to explore the arts among likeminded individuals ready and waiting to welcome you into the fold. From museums to the performing arts to galleries and exhibits, there’s always something new to see and experience in the arts in Memphis. It’s what makes Memphis such a sought-after place for careers in the arts – here, you can make a living while pursuing your passion. 

Unparalleled food scene 

Some say it’s the food that defines cities, and we’d have to agree. In Memphis, food is more than just something you eat; it’s a bridge to different communities and cultures and a powerful storytelling tool. From nationally recognized food events, like the World Championship Barbecue Cooking Contest, to historic cultural institutions dating back to the civil rights movement, like the Four Way, Memphis food always tells a story. With James Beard Award-nominated chefs, there’s no shortage of high-end dining either. And for every restaurant that exists in Memphis, there are dozens of foodies ready to become your brunch buddy. Forget boring salads and sad sandwiches – do your networking and bond with your coworkers over some of the best food in the world.

Memphis: the home of soulful living 

Whether it’s the arts that inspire us or the food that fills us, the cultural amenities will leave you wanting to discover more as you get to know the city. But above all the history, entertainment, and cultural institutions that exist here, it’s how the people bring those things to life that makes Memphis special. Memphis is the home of soulful living, where balance between work and play thrives and put their soul into how they experience the city every day. Wondering what it’s like to bring your soul to your own passions and be inspired every day? Look no further, Memphis is the home for you. 

What do you love most about Memphis? Drop us a line on Twitter and let us know!

You may also be interested in: Memphis Jobs | Major Employers | Memphis Economy

The post Memphis culture: big city amenities with a small-town feel appeared first on We Are Memphis.

Cost of living 

Bigger cities are only getting more and more expensive, and people – especially millennials – are getting priced out. It’s hard enough trying to budget for rent, groceries, daily living expenses, but that gets especially tricky when you want to throw in the cost of entertainment or the occasional vacation. In many cities, the thought of paying bills while having enough for entertainment and still being able to save some money seems ludicrous, but in Memphis, it’s totally possible. The cost of living in Memphis is roughly 21% lower than the national average, and that number grows when you compare to popular cities. Chicago, for example, is 41% more expensive than Memphis. Median home price in Atlanta is 202% more expensive than Memphis. For a remote worker, even if you have to travel for work on occasion, living in Memphis will stretch your dollar much further than in other cities, making things like home ownership and funding your dream vacation a reality. 

Coffee shops galore 

Part of any city’s character is defined by the locally owned businesses, and Memphis is no exception. Sure, there’s a Starbucks for every part of town, but as many remote workers know, finding your go-to coffee spot and work atmosphere is imperative to getting the work done. There’s a reason Memphis coffeehouse Comeback Coffee got a nod from Food and Wine as a top coffee shop in America. Unbeknownst to many, Memphis is a coffee town, but not in the snooty way you might expect from coastal cities. Here, it’s all about connectivity and creativity. There are tons of local coffee shops with fast and free WiFi, tasty treats, and some of the best coffee around. And in Memphis, being a regular means you’ll probably be on a first name basis with the owner in no time. Coffee culture in Memphis is celebrated by many, and there are plenty of cherished spots for a remote worker to set up shop. 

Coworking Spaces 

We get it, the hum of a coffee shop is not the ideal working environment for everyone. As many remote workers will tell you, sometimes the best place to plug in and crank out some work is a coworking space. And here in Memphis, you’ve got options. There’s the uber-hip Wonder Cowork Create (Wonder CC), offering a flexible and functional coworking space that fosters a community of creative freelancers, organizations, and small businesses that are getting started. There’s also the Launch Pad, nestled in the heart of downtown Memphis with access to private rooms, conference rooms, community rooms and more. Both offer different types of memberships to suit every person or organization’s need. 

A great place for a side hustle 

Let’s face it, sometimes the 9-5 job and daily grind doesn’t fulfill all our hopes and dreams. Heck, maybe it doesn’t fulfill our financial hopes and dreams either. For many people, this is how the side hustle is born. Whether it’s woodworking masterpieces or making jewelry, Memphis is the ideal place to turn your passion or hobby into a profitable side hustle (there’s a reason Etsy named Memphis a designated “Maker City). Memphis is a city that’s full of highly connected creatives, all supporting one another and fostering a vibrant community and ready to welcome you in. 

Quality of life 

From the cost of living to the city’s rich history, Memphis is a place where young professionals can get connected and make a difference. With a leisurely pace of life and world-class cultural amenities, this river town is the jewel of the mid-south. For remote workers looking for a place to call home that will support their professional lifestyle and provide opportunities beyond, look no further: Memphis is the place for you. 

You might also be interested in: Memphis Jobs | Memphis TN Jobs Search

The post Remote work paradise: why remote workers should be based in Memphis appeared first on We Are Memphis.

Our city is going through a growth spurt that has matched the booming American economy, and both National and International corporations are choosing Memphis to pour their foundations and take advantage of the incredible combination of opportunities that are blossoming in Memphis.

2020 brings strong indications for a prevailing wind of growth and prosperity for our community, as an ideal business climate has been brewing by the Mississippi. According to the Memphis Chamber of Commerce, “The savviest ones (visitors to Memphis) discover a great place to do business. Low tax rates, an attractive cost of living, and affordable real estate create an ideal business climate. Success is practically guaranteed with tax incentives, infrastructure support, and a skilled workforce. Forbes magazine ranked Memphis fourth on its list of “The Happiest Cities to Work in Right Now,” and a 2015 study by WalletHub ranked our city seventh in the nation for entrepreneurs. If you’re looking for a location where your business can thrive, you just found it.

As our city is looking towards the future, the landscape is becoming more attractive for millennials that are looking for more than just a great career, but an amazing and inspiring city to call home! Millennials bring with them an incredibly varied skillset, as the cost of higher education and the saturation of many soft skill occupations have inspired the millennial job force to seek a career within non-traditional and trade-based education and work experience.

Let’s look at why Memphis is one of the best new cities in the country to do business.

Memphis: FedEx, and other Multinational Corporations Invest Billions in Infrastructure

In 2019, FedEx, one of the largest employers in Memphis, invested $1 Billion into Memphis International Airport in an effort to expand and continue to evolve its current “Super Hub” located at the airport. The project, which aims to modernize and expand not only the FedEx Super Hub, but the entire airport, further enticing business and commerce to invest in Memphis, as the infrastructure and accessibility reaches world class status. 

The total expansion of $1.6 Billion slated to be completed in 2025, brings with it a huge amount of jobs to the area in multiple sectors. When the expansion has been completed, FedEx’s Super Hub will be the second-largest air cargo facility in the world. 

Memphis has one of the lowest tax rates in the country

According to the Memphis Chamber of Commerce,” Tennessee has the second lowest state and local tax burden per capita and no income tax on wages. Combine that with some exceptional incentives from our economic development partners for relocating and expanding companies and your business is ready to grow in the Memphis region.”  No matter what industry you are looking to expand your career in, whether it is a small artisan coffee shop, or expanding your corporate Head Quarters into a new location, Memphis is a virtual tax haven for employees and boardrooms alike. One of the greatest incentives offered in Tennessee is a ZERO State income tax. More money in your pocket means that you have an opportunity to spend more on what you love, and experience Memphis and all it has to offer. On the other side of the negotiating table, Our state currently has ZERO Occupational/Payroll Taxes in the city of Memphis as well as all of Shelby County. This Tax incentive inspires business big and small to invest more in the directives that make a business successful, its workforce and infrastructure. These are only two of the Tax breaks that are attracting big business to the table. More information can be found at https://memphischamber.com/select-memphis/tax-structure/.

Millennials Require more than just a paycheck. Culture is Key.

Millennials are one of the most influential and crucial sectors of the workforce in 2020. As the 20-30 somethings take the rein and continue to shape Corporate and Small business culture into new territory, a new attitude and list of “wants and non-negotiable’s” have been ingrained into the lexicon of business culture. Millennials yearn for the exciting, enriching, and entertaining environment that will allow them to express themselves creatively, as well as indulge in a more unique and locally centered experience. We have always been a haven for the unique and soulful, embracing the individual style and cultural identity that Memphis is famous for.  As this melting pot of humanity has evolved into the roaring 2020’s, Memphis has exploded with cultural experiences, highly acclaimed musical venues and performers, world class food and restaurants, and of course the natural beauty of the surrounding the city. This area offers millennials the opportunity to find or continue an amazing career, as well as plant their roots in one of the most exciting areas of the Country. 

Overall, Memphis is Growing, and this is just the beginning.

Memphis is already in the midst of growing and evolving into one of the most desirable places in the country to call home. With a mixture of Tax incentives, Corporate migration, infrastructure expansion and an exciting cultural revolution all taking place at the same time, We live in a fertile epicenter for the future. With a thriving ecosystem of work-life balance, and all the necessary factors to continue this expansion and excitement, the future of our home will be bright, booming, and unbelievable!  

You might also be interested in: Memphis Ambassadors Program

The post Tomorrows Memphis: Why future companies are flocking to Memphis appeared first on We Are Memphis.

With countless inspirations and the dreams of living your best life inevitably leading you down the path to Beale and beyond, the next question to solve is the one of where to lay your hat. Is it time to put down your roots and purchase a home in the Birthplace of Rock and Roll, or should you survey the city without a long commitment through renting? 

Well, let’s talk about it. 

The decision of renting or buying a home comes with many items to consider: What is the cost of rent versus the cost of a mortgage? What are the trials and freedoms of owning a home compared to becoming a tenant in someone else’s? Is the current housing market in Memphis affordable? And of course, Is the long-term investment worth it? Anxiety of making huge decisions like this are always difficult, however, The city of does it’s best to make the transition of both purchasing a home and renting a property as painless as possible, especially if you plan on putting down your roots and catching the wave of growth, technology, and culture that our City is becoming known for.

Living in Memphis: To rent or to own? That is the Question!

Memphis is clearly in the midst of a cultural and commercial evolution, becoming one of the most interesting and enticing centers for career opportunity, home equity growth, and according to CNBC.COM “The 5 cities in America where you can live like royalty on a $50,000 salary .” The incentives to flock to Memphis are boundless, but, when coming down to the brass tacks of the decision to buy or rent, cost is always paramount to the decision. There are many amazing resources to help mold the decision, and to boil it down for you a bit more, here are some hints and details that we have cobbled together to help you along your journey.

But what does this really mean? “The amount of time it takes for owning a typical U.S. home to make more financial sense than renting an identical home is now 1.96 years – or a little under a year and 11 months,” according to Zillow’s Buy-Rent Breakeven Horizon. The breakeven horizon varies by region, with the shortest among major markets in Memphis, Tenn., where it takes just 1.32 years (a year and almost four months) for owning to financially beat renting.” The key take-away here, is that after a year and four months of paying your mortgage, you will have more equitable value in your home than if you were to decide to rent. If you can put down 20% as an initial down payment, your mortgage should be around $780 a month for a 30-year fixed rate mortgage, as opposed to $1,100+ a month for renting a similar property. 

Owning Versus Renting: The Challenges and Choices: 

Generally speaking, the goal of both renting and owning a home is to find a comfortable location to enjoy yourself, find some rest, and feel safe. What happens however when there is an electrical short and half of your kitchen catches fire? As a homeowner, it is time to act, look up the phone number for your homeowner’s insurance, and dole out the deductible. Your kitchen will be saved; however, your credit card might be a bit lacking for space when it comes to fill the brand-new cabinets that were just installed. 

As a tenant, depending on your landlord (and lets assume for this example, they are an outstanding and shining example of the perfect landlord), contacting them, explaining the situation, and asking for assistance leaves the cost and coordination to the property owner, saving you from breaking the bank to remove the soot from the ceiling. 

Certainly, as an owner of the home, you have the power to decorate, improve, and create the perfect home of your dreams. You could even own a Giraffe if you wanted to, without anyone dropping by and asking about the extra “headroom” in the garage, not to mention the equity of the house that will grow with each improvement you make to your home.

At the end of the day, making the choice to rent or to own a home is based around your budget, level of commitment, and dedication (or lack thereof) to the upkeep of your property. Considering the Federal Reserve recently cut interest rates, if you’ve been saving up to buy a home, the time is now!

You may also be interested in: Memphis Property Tax: Here’s how to calculate your property tax!

The post Living in Memphis: Finding a forever home, or testing the waters? appeared first on We Are Memphis.

The Memphis real estate market is undergoing a noticeable come up. Since 2014, $19 billion has been invested in planned, underway or completed projects.

Whether it’s a $1.1 billion development plan for Downtown Memphis’ Pinch District, a $3.8 million incentive to redevelop a vacant Midtown property into apartments, a $280 million modernization project for Methodist University Hospital in the Medical District, a project to transform the former American Snuff Co. Plant into a mixed-use space in Uptown or planning to use millions of dollars to improve areas like New Chicago, Memphis real estate is on the move.

Listed as one of the top cities to which millennials are moving, Memphis is home to more than 200,000 millennials, some of whom are involved in the real estate market.

Interested in learning more about what makes the Memphis market unique and how you can dive in? See what these young real estate pros had to say about the city’s boom.

Why Invest?

Brent Hooks, chief administrative officer at Allworld Project Management, said that investing can be an important wealth builder for millennials.

“There are cash flow, tax, leverage and appreciation benefits that are generated through investing in real estate,” Hooks said. “The commercial real estate market in Memphis is currently an open canvas, and due to recent activity, is picking up momentum. Other markets are more developed, which limits their level of further development. Memphis has competitive property values when compared to other markets. There are several underdeveloped pockets of transitioning areas. Major projects are on the horizon. Through the use of Memphis 3.0, the community is starting to develop a long-term vision. With major developments on the horizon such as South City, Union Row, One Beale, micro-projects will develop to connect larger developments.”

Casey Flannery, a senior associate at Cushman & Wakefield Commercial Advisors, said that opportunities and affordability make the market appealing.

“Companies are willing to relocate and add jobs to the area, in addition to (the city’s) more reasonable lease rates. For example, office rates in Atlanta are $34.00 per square foot, as opposed to our $18.00 per square foot rates,” Flannery said. “Memphis has a lot of opportunity for redevelopment and new development.”

Getting Involved

Hooks said that specificity is key in getting involved in real estate.

“The real estate industry is very competitive, and it is not a get rich quick scheme,” Hooks said. “Determine your specific strategy, and identify your risk threshold. Have a clear value-add proposition. Start small, work with experienced mentors and build a good understanding of the market. Evaluate as many properties as possible, and have a good knowledge of your calculations. Terms like CAP rate, Net Operating Income and cash flow should be well comprehended.”

Hooks also recommends connecting with organizations such as the Memphis Investors Group and the Urban Land Institute for training and resources.

Benjamin Orgel, an asset manager at Tower Ventures, said that being hands-on is important.

“It’s always good to have programs, but it’s also important to have entrepreneurial-minded people who go out and try to improve for themselves,” Orgel said. “I think (it’s about) getting your feet in the fire and surrounding yourself with the right people…people who know what they’re doing, and saying ‘How can I get involved?’ Surround yourself with people smarter than you.”

Reimagining and Rebuilding

One area of development in the city has been the adaptive reuse of old buildings. Examples include the Crosstown Concourse–a former Sears facility transformed into a space for small businesses, nonprofits and Crosstown High–as well as the Rise Apartments, which were once an old Wonder Bread factory.

Orgel, who is involved in a project to transform the former American Snuff Co. Plant into a mixed-use space, said that adaptive redevelopment sets the Memphis market apart.

“If you go to some other cities, they tear down everything and build tall, steel skyscrapers,” Orgel said. “There’s nothing cooler to me than taking an historic building that’s been there for a hundred plus years, or less, and making it a wonderful place for someone to live, work or play…I think Memphis has done an amazing job with local investors here that, instead of tearing down, we take old buildings and convert them.”

(Re)Shaping the City

Flannery said that commercial investing and development in Memphis can influence how people view the city and potential opportunities.

“When there are people who are investing in the city and putting money into redevelopment, it displays the confidence that others, and citizens, have in our community,” Flannery said. “They (citizens and investors) are willing to support the city, initiatives and participate in events locally. It brings money to our city with more people living, working and spending money in the area.”

Orgel said that development can help arouse more interest in the city.

“If more millennials get involved in real estate and investing, it makes you more passionate about the city, makes you think differently about the city and it makes you want to invest more and more to improve it,” Orgel said. “The more people that are successful here, especially in real estate, improves everything in the city. Like anything in life, the more you put into it, the more you’ll get out of it.”

Hooks said that development can increase Memphis pride.

“As we move deeper into the digital age and smart cities rise, millennial involvement is needed in commercial development and investing,” Hooks said. “We can bring fresh ideas that the generations before us may not have considered. Ideas like co-working spaces will mostly increase. The accessibility spurs an entrepreneurial interest because of the cost-effectiveness. Furthermore, We can shape the future of the city for our friends and family. This would also strengthen the sense of pride among our peer group. There is no better feeling than saying, ‘Hey, my friend helped develop that site!’”

You might also be interested in: Exploring the Bustling Economy and Business Opportunities in Memphis

The post Getting Into the Memphis Real Estate Boom appeared first on We Are Memphis.

Nike

When it comes to athletic sportswear and shoes, no other company on the planet can compete with the likes of Nike. While a number of corporate Nike locations are spread around the country, Memphis is home to its largest distribution center in the world. Nike identified Memphis as an excellent location to set up shop, thanks to its mostly centralized shipping location. It can send out orders easily to reach major hubs like New York, Boston, Chicago, Detroit, Atlanta, Dallas and others within a day, and it can hit spots on the West Coast without taking too much more time (and without expediting shipments). This isn’t possible if Nike set its distribution center in New Jersey or Georgia.

When working with Nike, you have access to the in-house fitness center (which you’d better believe is state of the art), and there is an on-site child care facility to make it easier on working parents.

Medtronic

This company is the largest medical device manufacturer in the world (again, setting up its distribution facility in a centralized location in the U.S., similar to Nike). One of the best reasons to work for Medtronic is that hourly workers earn around $45,000 annually. And if you’re salaried, it’s significantly higher.

St. Jude Children’s Research Hospital

This is a location where you get more than just a paycheck. There is the satisfaction of knowing you’re helping children, even in the smallest way. Whether you’re working directly with children who are struggling with an illness or you’re washing floors, this is truly meaningful work with a number of excellent benefits, including compressed workweek options, tuition reimbursement, and, depending on your job, you may have telecommunication options.

Finding your new line of work

These are just some of the best Fortune 100 companies to work for in Memphis according to TripSavvy. Of course, you don’t need to apply to only the biggest corporations in Memphis. You should always keep in mind what your passions are and seek out a line of work that connects with you and what you want to do professionally. Thankfully, there are plenty of options here in Memphis. And you’re always welcome to set up shop and begin your own startup as well.

To see the full list, click on the link below!

Original TripSavvy article

You might also be interested in: Census 2020 Memphis Jobs: Join the Count and Make a Difference

The post Here are the best Fortune 100 companies to work for in Memphis according to TripSavvy! appeared first on We Are Memphis.

Start with the photo

Your LinkedIn photo needs to be different from what you might use on Facebook or Instagram. It needs to be professional. Avoid the blurry images you have of yourself, or anything that has you out with friends. It needs to be of just you, wearing a professional outfit. Even if you need someone to help you take a professional headshot, do so. The only time you should even consider moving away from this is if you work in a specialty career path. For example, if you’re a chef, have a picture of you in the kitchen (but always make sure it’s still a profile picture of your face). Or, if you’re a videographer, you can be holding a camera. If it’s brand- and career-related, it’s OK to have it included. But other than this, always go professional.

Creative headline

Your resume will include all the bullet points of your working history. The headline is what helps turn heads, so get creative with this. When looking for Memphis jobs, you want someone to see a bit of your personality. You’re not just a mindless drone floating around. So, showcase yourself and your personality in the headline. Here are some creative examples if you need inspiration.

Create professional blogs

LinkedIn is not the place to upload spammy content to try to sell something. It’s not a place to post YouTube videos of your vacation to the Bahamas. However, it is the perfect spot for you to craft a blog geared toward your profession. If you’re a marketer, keep a blog about marketing, using social media to expand a brand, SEO, mobile marketing and so on. You can also upload from your blog if it’s located on another website. This keeps your profile fresh, relevant and in front of employers.

Participate

LinkedIn might be for professionals, but it is still a social media platform. When looking at getting a job in Memphis, join a related group that connects you to other Memphis professionals. Maybe you connect with other kitchen operators or hotel managers. Whatever group you join, make sure to post, stay active and participate. There’s no point in joining a group if others don’t know you exist.

Set yourself apart

These are just a few ways to set yourself apart from other job seekers in the greater Memphis area. Just remember, as is the case with your paper resume, keep it up to date and comb through it for any errors. A clean, easy-to-read and concise resume will let potential employers know everything they need to know about you, which helps boost your chance at landing that all-important interview.

You might also be interested in: Memphis Business Resources for Entrepreneurs

The post How to optimize your Linkedin profile and land a job in Memphis appeared first on We Are Memphis.

What do you like?

First of all, what do you like to do? What interests you? Maybe you love to bake pastries, or perhaps you’ve always been a fan of classic books. Because, let’s face it; do you really want to open a business you have zero passion for? Sure, a vegan pizza joint might do well, but if you’re not vegan and you hate pizza, will you really be happy? Yes, the purpose of running a business is to make money, but ultimately, you want to be happy, so consider what you enjoy doing. That might be the best way to identify what business will work for you.

Know the area

Even if you haven’t run your own business before, you already know the importance of “location, location, location.” You need to know the location. If you want to open a hair salon, is there a need for it in a specific area? And what client base lives in the area? There’s probably a need for what you like to do, but you need to know where it will work within the city.

What are your skills?

What kinds of skills do you have? Area you a “people person”? Perhaps you should work in retail. Would you rather avoid interacting directly with people? Perhaps an e-commerce business will work better for you. Know your strengths, and, just as importantly, know your weaknesses.

Laying the foundation

The hardest part of any business is starting it up. The vast majority of business ideas will remain just that: ideas. There are a million reasons that can prevent someone from opening up a new enterprise. There’s the fear of the unknown, the potential for failure, not having business management experience and so on. To truly succeed, though, you need to just start. Lay the foundation for your company. The first step is the most difficult. Thankfully, when starting a business in Memphis, assistance is all around. From the Greater Memphis Chamber to non-profit organizations looking to offer advice and knowledge, you’re in the right place to start your own company. It’s up to you to get the ball rolling.

Stop thinking about it

Have you ever found that the best answers come when you stop looking for them? Oftentimes, when you attempt to force yourself into something, you develop blinders. It blocks out anything other than what is directly in front of you. Now, this kind of skill can be beneficial at certain times, but not when you’re looking for an idea. You need to be open to everything. So sometimes you just need to stop twisting your head into knots trying to come up with an idea.

Instead, go about your daily activities as you normally would. Chances are you’ll come across an idea without even trying.

Keep a notepad next to your bed

It’s always amazing where your mind goes while you’re sleeping. Because your brain is truly free to explore areas you normally don’t consider during waking consciousness, you may identify ideas that you would have never formulated during the day. The problem is that it’s very difficult to actually remember these ideas once you wake up for the day. That’s why you need to keep a notepad and pen next to your bed.

By keeping a pen on your nightstand, if you wake up after a strange, idea-inducing dream, you can scribble down what came to you and then go back to sleep. This way, when you wake up, you’ll be able to (hopefully) remember everything you were dreaming about.

Go somewhere in town you haven’t yet visited

If you’ve been living in Memphis for some time, chances are you have a routine down. Perhaps you have a handful of restaurants you regularly go to and a favorite bar. Well, switch it up a bit. One of the best ways to develop new ideas is to try something new.

Instead of visiting the park by your house, go to a park on the other side of town. While you know the steakhouse near work is good, check out the sushi joint you’ve been hearing so much about. Oftentimes, inspiration comes from little changes. It’s a tweak in your routine that causes your brain to come up with new ideas.

Think of it like a workout: When you first go to the gym and start lifting weights you’ll experience the biggest jumps in your strength and size gains. Your body is working hard at these new exercises, so you see impressive results early on. But then, after a few weeks, the results slow down. You aren’t able to increase your lifting numbers as quickly, or you might completely stall out. It’s because your muscles have plateaued. They’ve become accustomed to your normal routine. The only way to jump-start your gains is to change up how you exercise. It’s called muscle confusion. The same is true with your brain.

When you do the same thing every day, your brain starts to relax. It doesn’t work as hard. So when you change your routine and throw in a curveball, you force your brain to work harder, which may help you identify a potential business idea.

You might also be interested in: Thriving as a Startup in Memphis: Key Strategies for Success

The post How to find your perfect business idea in Memphis appeared first on We Are Memphis.

1. You’ve Developed Skills That Will Transfer To Your Own Business

By the time you’ve hit your 30s, you’ve been working for some time. In fact, you’ve probably been in your current career path for at least a decade, if not longer. The skills you’ve developed over this time will help you when opening a new business.

But what happens if your future business has nothing to do with what you’re doing right now? There’s nothing wrong with that at all. You might work in accounting now but want to move to running a restaurant. The accounting knowledge you have will help. You’ve also learned how to follow a set schedule and communicate professionally with others. All of this is will help you with your new business.

Eventually, the skills you learn will plateau. While it is always possible to learn new tricks and insights, the amount you learn with the time you put in will start to become stagnant. You’ll hit a point in time where you’re doing the same basic tasks every day, with very little in the way of new education coming in. That is one reason why you’ll be better off starting your own business in your 30s than letting your work time drag on with a job where you’re not going to increase your skills.

2. You’ve Seen The Future

You’ve been in your line of work for several years now. And, chances are, you’ve seen the future. You can see what your life will be like five or ten years down the road. Does it really look like something you want to do? If you stay with the job, you might find it difficult, if not impossible, to walk away. In a way, you’ll become stuck. In your 30s, you’re anything but stuck. So take advantage of it.

• But what if you’re on the opposite end of the spectrum?
• What if you can’t see the future?
• What if you’re trying to look five or 10 years down the road and you don’t see anything at all?

That’s even more worrisome. It means the job might not be stable, or maybe the career path won’t even exist in a decade. If you risk staying with the line of work, you may miss your best opportunity to get your feet under you with the new business.

Knowing your future and wanting to improve upon it is one thing, but if you can’t even envision what might happen five years down the road with your current job, that’s an entirely different reason why you need to start a business.

3. You’ve Learned The Art Of Networking

Networking is important for any business. You’ve had to hustle and create everything yourself up to this point. From finding work to talking with other employees who also started at the ground up. You’ve developed a strong network. You can use this networking to build your new business. You can also pull from this skill as you grow your idea for the new company.

By the time you’re in your 30s, you not only know how to network, but you’ve likely met many of the major players who are up and coming in the area as well. Yes, there will always be an influx of new talent, but chances are there are other individuals who are looking to make the move into starting a new business just like you. This means you need to start pitching yourself and your idea to these like-minded individuals. Because you know what will happen if you don’t? Someone else will, and then this top-tier talent will move on without you.

While you do know the art of networking, it is important to take advantage of this art you’ve been fine-tuning and use it to your own business advantage.

4. You Have Time For Failure

It’s important to be completely honest with yourself. There’s always a chance a business will fail. There’s no shortage of reasons: It wasn’t prepared properly, it didn’t have a good location, marketing was bad, or it was ahead of its time. If you wait to start a business, you might have one shot at your business. But in your 30s, you can fail, learn from it, and come back better than ever.

Now is the Right Time to Start a New Business

There will never be a 100% perfect time to start a new business. There will always be second doubts. That’s just part of life. However, if you wait until you don’t have any doubts, you’ll never end up following your dream to start a business at all. That is exactly why now is the right time for you to start a new business in your 30s.

You might also be interested in: 5 Memphis based startups to watch

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Market Research

So you have an idea. Great. Now you just need to decide who will buy your product or service. If you’re setting up shop in Memphis, you’ll want to know the demographics you want to target and where these people are living in the city. This will help with your advertising. It will also help you determine who may or may not be interested in buying your product or visiting your restaurant.

Remember, the more research you perform early on, the easier it will be to market and reach an audience. There’s no such thing as too much data here. So really dig deep into demographics, competition and locating potential customers.

Create Your Business Plan

What is the goal of your business plan? What do you want to accomplish? You need to decide this, and then put it in writing. That way, everyone in the company knows what the business plan is.

Start Funding

This doesn’t need to be the third step in your business plan. In fact, you should start saving money as soon as you have the idea. Then, when it looks like you’re going to follow through with creating a business, look for ways to raise money. You can use Kickstarter and online money-raising methods, or you can borrow money from a bank. Ideally, avoid asking friends and family for money if you can because money between friends can ultimately cause friendships to collapse if things go south.

Location, Location, Location

Yes, one particular location may be more expensive than others. However, you need to be where your customers are. A favorable location may cost more, but it could mean that your business will grow faster.

Register Your Business

Register your business with the city, the state and the federal government. Trademark your name if you have to, and begin creating social media profiles before others can take the name from you.

Make Your Business Your Own

These are a few of the important steps you need to follow when starting a business in Memphis. It is hard work to run your own company, and it will take long hours and plenty of determination. However, you can do it. You have the willpower and the great idea. Plus, with a city like Memphis as your backdrop, you have access to a top-tier talent pool. By following these steps for starting a business in Memphis, you’ll be on the right track to achieving your dreams.

Additional Reading:

We Are Memphis

Greater Memphis Chamber

You might also be interested in: August in Memphis: The Best Things to See and Do

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Check out tax and business incentives

One reason why you might select Memphis over other destinations isn’t just because of its centralized location or less expensive properties than New York or Los Angeles. It’s because of the tax incentives. You want a location that will help you save money while boosting productivity and profits. There are a number of tax incentives available to you when you move your business to Memphis.

Through the Greater Memphis Chamber, you can search through the different incentives available to your business. This includes tax incentives, infrastructure and utility incentives, training and workforce incentives, plus financing incentives. So prior to any move, make sure to check out the Greater Memphis Chamber website for all financial opportunities available to you.

Small and minority-owned business services

Beyond the incentives open to all businesses moving into Memphis, there are added perks of owning a small business or being a minority running a business. The Tennessee Business Enterprise Resource Office (BERO) offers a number of business plan development services, which can include everything from B2B networking to assist with procurement. Before opening up shop, you should look into these services to find out if, or how, BERO can help you save money and get your business up and running faster.

Moving companies

If you’re moving equipment and goods from another city, you will need to book a moving company that is well respected and accredited. This way you know you’re working with a quality service provider who will get your company to Memphis in one piece. While the exact moving provider will vary depending on where you’re located, you need to consider BBB accredited companies and then go with the moving company that best fits your commercial and business needs. You can visit the BBB.org website for more information on accredited moving companies that can transit all of your business material from your current destination to Memphis. After all, you have all kinds of work to put in prior to the move. Having a professional take care of the moving services for you can make things that much easier (and give you one less thing to stress over).

Additional reading

We Are Memphis

Greater Memphis Chamber

Greater Memphis Chamber Incentives Page

Tennessee Business Resources

You might also be interested in: Popular Jobs in Memphis

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You will find all of that and so much more in the city of Memphis.

Setting Memphis Apart

If you were to look at the small business website of nearly every city, most of these sites will all say the same thing. You’d almost swear some websites just copied and pasted the same content from one city to the next. So with so many cities shoving each other out of the way, attempting to attract you, you need to sift through the advertising fog and uncover what really is important for your business to thrive.

First, you need access to employees who are capable of assisting with you and your development. And while you need access to a large workforce, you may not want to be bogged down with significant competition right out of the gate. After all, a small plant will not always survive when growing in the shadows of a larger tree. It needs its own ability to stretch its roots. That is what you receive in Memphis.

If you were to call Memphis home, you’d have access to big-city level workers, both in terms of quantity and in terms of quality. And yet you have the competition of a smaller town. Chances are, there is more than enough room for you to establish yourself and grow your company.

Helping Your Business Grow

The first few years of a business will make or break it. If you can make it past the give year mark, chances are you’ll be around for the long haul. Usually, the problem is finances. It’s expensive to start a new company, advertise it, network, and connect with the right people.

The city helps support all startup businesses in Memphis. Memphis Entrepreneurs have access to all kinds of loans and grants. The 800 Initiative, which went into effect last year, is designed to help promote minority business owners. However, the city isn’t only assisting minorities and female business owners. The city is open arms to all companies big and small. So, if you have an idea, Memphis wants to help you connect with your audience and grow.

Perfect For Growing Companies

If you work in e-commerce and sell products online, Memphis is in a prime distribution location. Whether you’re shipping to Atlanta or Detroit, you can get your products out faster, which means happier customers and, in return, more return clients.

The landing site for your business is one of the most important decisions you’ll make when running a business. Let Memphis be that best decision you ever make for your company.

Know Your Audience

Are you looking to start a restaurant? Perhaps you want to showcase your boutique style clothing. Whatever it is you’re interested in, you need to know your audience. This will have a major impact on where you need to open your doors within the city. Memphis has a number of districts and neighborhoods, each possessing a unique feel and demographic makeup.

You don’t want to open your clothing business in an area with little foot traffic or sell products for college students in an area predominately lived in by retired individuals. If you’ve lived in Memphis for some time you’ll have a better understanding of where people live. However, whether you’re brand new or have called the city home for years, you need to put in your research and first identify a neighborhood best for your business. From there, you can look for the right property.

After all, location is one of the most important factors in the success of any business.

Take Advantage of the Greater Memphis Chamber

This is a fantastic destination to grab information on running a small business in Memphis. You’ll discover potential tax deductions and rebates for not only opening within the city but for opening in certain neighborhoods within the city. If the location is right for your business, it has the potential to save you thousands of dollars.

The Greater Memphis Chamber also has information on other businesses, making it possible to network. As a startup, you may excel in one particular area of business. However, unless you’ve run a business before, you’ll quickly discover just how difficult it is. Every small business is in it together, so when you can network with an accountant or a business attorney, it will help your business grow and avoid some of the pitfalls of running a business.

Business Development Center

The city of Memphis is behind you every step of the way. It wants to see you not only survive but thrive. After all, when you do well, the city does well. You represent employment for other residents and help bring money into the city. Due to this, Memphis will get behind you and help your business.

One of the ways the city does this is through its Business Development Center. This is a fantastic destination you need to take in. The center offers small business training and even one-on-one counseling. You’ll discover some of the ins and outs of not only running a business but running a small business in Memphis. You’ll be pointed in certain directions if you need help within your business. The center also publishes a Business Resource Guide for you to keep on hand. So if you’re priming yourself to open a small business, stop on over at the Business Development Center. It’s the perfect spot to gain valuable information.

You might also be interested in: LLC Memphis TN: How to set up a LLC in Memphis, Tennessee

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Varying Taxes

When moving to Memphis, it is important to note that there are both county and city taxes. I’ve found that when determining taxes, many first-time home buyers will come up with one, but not the other, which is why they are surprised come tax time when they need to pay both city and county taxes.

Currently, for 2018, the Shelby County property tax for a home’s appraised value is 4.05 percent. Additionally, the city tax rate for Memphis is another 3.19 percent.

Should you move to the county but live outside of Memphis, there are reduced tax rates in neighboring cities. The tax rates for these cities are as follows:

• Arlington – 1.15 percent
• Barlett – 1.83 percent
• Collierville – 1.83 percent
• Germantown – 1.95 percent
• Lakeland – 1.25 percent
• Millington – 1.53 percent

City of Memphis Property Tax Rate Calculator

To start, you need to know what your 2018 appraised value is. If you are buying a home, you should have the property appraised. The appraised value is not always what you end up paying for it. If there is a bidding war for the home, you may end up paying more than the current value of the property. In this instance, the appraisal will show that you owe less than what you paid for it.

Once you have the appraised value, it’s easiest to start with the county property taxes. For example, if your property was appraised for $150,000, you will multiply it by 4.05 (or 150,000 x 0.0405). This comes out to $1,518.75 for the county property taxes.

Next, you need to determine your city property tax. We will use the Memphis tax rate of 3.19 (if you live right on the city line, it is important to know what side of the street the line is on. It may be the difference of nearly two percent). Using the same calculation method of $150,000 for the property value, you will multiply it by 3.19 (150,000 x 0.0319). This comes out to $1,196.25.

So someone who owns a home with an appraised property value of $150,000 and lives within the city of Memphis will end up paying $2,715 for their home.

Hopefully, this helps you out with determining your property value taxes and what to expect come tax time.

Additional reading: Memphis history facts that we bet you didn’t know!

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1. Barbecue

If you haven’t yet tried the dozens (and dozens!) of BBQ spots in Memphis, 2019 is your year to change that. Entire books have been written on Memphis BBQ and with good reason.

2. Bike Nights on Beale

On Wednesday evenings from April to September, motorcycles gather in impressive droves on Beale.

3. Black Restaurant Week

Memphis is proud to be diverse, and this week is no exception. Come enjoy a rich culinary experience at any of our dozens of local black-owned restaurants. Dates: March 3-9, 2019.

4. Crawfish Festivals

Each April, Memphis hosts our famous boiled crawfish festivals. Two of the biggest include Overton Square and Rajun Cajun. Hope to see you there!

5. Graceland

Does this really need any explanation? If you haven’t been to the home of Elvis Presley in a few years (or ever), it’s time!

6. Elvis Week

Fans from around the globe will flock to the city to celebrate the King of Rock ‘n’ Roll. Dates: August 9-17, 2019. Whether or not you’re a fan already, you’ll become one.

7. Liberty Bowl

If football is your thing, you’ll want to come watch the top teams compete for the 61st annual Liberty Bowl trophy in December.

8. Memphis Fashion Week

International and local designers alike gather each April to show off their most creative and iconic fashions.

9. Memphis Zoo

We boast one of the nation’s top-ranked zoos. Come (with or without the kids!) to see the baby animals or visit any of the many state-of-the-art exhibits.

10. RiverArtsFest

Each October, hundreds of local artisans gather for an impressive weekend show in downtown Memphis. Come be inspired and entertained by the very best.

11. The National Civil Rights Museum

Come witness the history of the civil rights movement in a fully immersive and absolutely memorable way.

12. Trolley Nights

The last Friday of every month means one thing: Trolley Nights. Galleries open. Music wafts through the air. Free drinks appear on South Main.

Bottom line: This list doesn’t even scratch the surface of what’s waiting for you here in Memphis. Come see for yourself!

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1. Go Where You’re Happiest

Where in town do you feel happiest? Is it taking in the beautiful outdoor art? Perhaps it’s pulling up a stool at one of the many new local breweries. Or maybe you simply enjoy the calm of walking your dog during the evening twilight.

Whatever makes you happiest and brings out your natural satisfaction is where you should begin. Sometimes, focusing on your job forces you to see only the trees and not the full forest of a possible business idea. Going where you’re satisfied and comfortable tears down the barriers you likely experience throughout the day, which makes it that much easier to spark your next business idea.

2. Go for a Run

Or, you can go lift some weights, head out to the gym, or bike your neighborhood, basically, just get your body moving. This is one of our favorite ways to spark creativity, because when you elevate your heart rate, you also pump more oxygen and nutrients to your brain. All of this is great for idea-generating.

It doesn’t matter if you’re someone who prefers to work out inside or if you like the sun on your neck while jogging through one of the many Memphis public parks, exercise can work as a personal idea generator.

3. Try Something New

What makes Memphis so great? There is more than one answer here, but for many of us, it’s that there’s always something new to try out. Whether it’s a locally owned restaurant opening up shop, a new art exhibit or just a new club to discover, there’s always something new to try.

New experiences force your brain to think differently. You may have never found yourself to be much of a dancer, but a local dance class can get you out of your comfort zone, see the world differently, and help spur on new kinds of thinking.

When you find yourself struggling with generating a new business idea, it’s likely because you’re thinking like you always do. Trying something new changes it, which means you may be able to find that new idea as well.

You’re Just an Idea Away

We love the city of Memphis. There’s always something fun and exciting going on. It’s also a great destination for business. With these three tips, you’ll discover brand-new ways for generating ideas for either your own business or a brand-new one.

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You might also be interested in: Starting a Business in Memphis: 5 Essential Steps

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Follow your passion

With companies like St. Jude Medical, FedEx and ServiceMaster leading the way, entrepreneurs are encouraged to try new things and explore the options that are open to them. In addition to the large number of major corporations that have made Memphis their home, female entrepreneurs can follow any number of career paths, including music, fashion, food and any number of other creative pursuits.

An abundance of resources

The Creative Works annual conference and Epicenter are just two of the resources that can be used to not only connect with investors, but with other entrepreneurs as well. Female entrepreneurs can also learn a number of business-oriented skills that will allow them to pursue their dreams of creating their own career.

It’s not just a man’s world anymore!

In Memphis, the focus on minority- and women-based businesses has helped to create an environment in which women are encouraged to move forward with their own business goals. Whether they are part of the artisan or creative community or wanting to make a name for themselves in the corporate world, women are beginning to take advantage of these new opportunities and are making names for themselves in bold letters.

Memphis has been a city of opportunity for many years. In the recent past, female entrepreneurship has grown by leaps and bounds. With the financial opportunities that are now available to women, they now have the resources to pursue their dreams and make them come true. Women who have the initiative and the drive can enter almost any career field they choose and become a success. All they have to do is make up their mind to succeed and follow their passion!

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The benefits of using the Greater Memphis Chamber

 

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Nationally, small businesses are the largest group to make up nearly every local chamber The Greater Memphis Chamber includes a network of nearly 2,000 businesses and 7,500 professionals. The chamber leadership is comprised of 40 experienced business professionals who are looking to help businesses grow and succeed in Memphis. As a not-for-profit organization, the purpose of the chamber is to lift the local economy and support businesses like yours.

• Customers are more likely to do business with a company that is connected to their local chamber (Shapiro Group, Inc.).
• Increase your visibility within the community by being listed in the newsletter and online membership directory. You could potentially be highlighted in the publications. The chamber may even promote your big events or grand openings.
• More networking opportunities and chances for leadership development are available through chamber contacts, programs and events.
• Have a voice in government decisions, joining with the chamber to oppose regulations, taxes, fees, costs, assessments and other harmful things that impede small business.
• Stay on top of the latest information about local business and community events through the chamber newsletters.
• Potentially get increased referrals from individuals or businesses calling the chamber to find local vendors, services and more. Most chamber members will recommend other chamber members.
• Members-only discounts and services in Memphis exist to benefit you and your business for being a partner of the community.
• Participate in chamber events where you can meet other entrepreneurs and business people.
• Increase your business-to-business advertising and reach potential clients through membership.
• Find access to a one-stop shop where you can address the challenges your business faces and find mentors or programs that can help provide solutions.

Small businesses need all the support and encouragement they can get as they grow. Longtime members form bonds and create connections that keep them involved in the chamber. Even if your Memphis business isn’t small or new, joining the Greater Memphis Chamber helps you connect to the community, the local economy and other businesses in the area. Being a community partner can make a big difference in whether you are a Memphis business or just a business located in Memphis.

Build your Memphis business by participating in the local scene and joining our local chamber today. We can’t wait to see what you do!

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Additional reading: LLC Memphis TN: How to set up a LLC in Memphis, Tennessee

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No. 1 — Dress for success

Wearing the right clothing is a vital part of making a first impression. While the Memphis area has embraced casual business attire for everyday wear, clothing for an interview should always stay conservative and professional. Perform a quick check in the mirror to see if there is anything odd that stands out. Make sure nothing is sloppy or wrinkled, and don’t forget the details such as a professional tie, briefcase or satchel. Take the time to research the business and consider an outfit that is similar to the ones worn by those who work there. The goal of the interview is to show that you are the right person for the job and the business culture.

No 2. — Maintain good eye contact

Honesty and respect are what employers are looking for in Memphis, and with such little time to gauge interviewees, appropriate eye contact can go a long way to establish that. Not holding eye contact can be from anxiety or insecurity, but it can be off-putting and convey a lack of trust and confidence. When seated, practice good posture, avoid fidgeting and keep eye contact throughout the discussion. Practice with a friend if maintaining eye contact is difficult.

No. 3 — Be knowledgeable and confident

An interviewer expects you to know about the company that you are looking to become a part of. Do your due diligence and research the company before it is time for your interview. This will show that you want to be essential to the company and that you know how to prepare. When sharing the knowledge you have learned, deliver it with confidence and only when appropriate. Do not sound cocky. Always smile and deliver a solid handshake; emit an approachable and friendly persona. An interviewer is not only looking for confidence but someone who can work well with others on the team as well as customers.

No. 4 — Follow up with a thank you

Following up with interviewers to thank them for their time and consideration is a great way to show that you are excited and desire the position. It also shows good manners. Good followup is vital in business, and a quick note or email can prove you know this. Keep it short and simple; remember that it is not a continuation of the interview, just a simple note of appreciation.

We want you to land that dream job in Memphis. By following the tips above, you can help make that amazing first impression and hopefully embark on the career you desire.

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Additional reading: Best reasons why visit Memphis!

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Premier business resource center

One of the key challenges with starting a business is having access to the tools that you need to be successful. The leadership team at Epicenter is dedicated to helping entrepreneurs gain access to support in terms of investors, mentors and customers. The top challenges facing entrepreneurs include:

• Hiring the right employees
• Finding affordable funding sources
• Marketing strategy
• Creating realistic budgets
• Casting (and communicating!) a vision
• Dealing with the unknown
• Lack of collaboration

Epicenter provides an open and creative space that encourages collaboration and communication — critical aspects of a successful startup business.

Summer of acceleration 2018

The summer of 2018 got a great deal hotter for Memphis businesses, as four intensive summer boot camps pushed entrepreneurs to their limits. The Logistics Accelerator boot camp helped organizations explore logistics and supply chains, while the Launch Delta Home Services Accelerator encouraged high-tech startups in the world of IoT to get their organizations off the ground. ZeroTo510 Medical Device Accelerator supported the needs of medical technology companies as they explored the possibilities in the Memphis area. The AgLaunch Accelerator provided more than $50,000 in startup capital and up to three months of intensive business development support.

These four summer accelerators are only a few of the exciting opportunities for organizations in the Memphis area — all available due to the hard work and dedication of the individuals at Epicenter. Learn more about how Epicenter Memphis can help entrepreneurs prepare to make a difference in the world.

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The truth of the matter is Memphis is a prized gem in the employment industry. To land a job in Memphis, TN, though, you’ll need to be on top of your game. Here’s a look at six things to do before your job interview in Memphis.

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Research the potential employer

To get a true sense of a company, you can research, read news releases and talk to friends. You may even be able to speak with a few of the company’s existing employees if you know any. The goal is to get a better understanding of what the company represents so you can align your interview answers to the employer’s values and morals. Reviewing the company’s profile on social media and on its own website is an excellent way to prepare for your job interview, but you should also check out company review sites such as Glassdoor, which offers an in-depth look at a company’s values and standards. Individual employee blogs may even be available to provide you with a glimpse at life within the company.

Pinpoint and familiarize yourself with topics worth discussing

By scrolling through the company’s social media presence on sites like Twitter, you can gain insight into the latest news, events and product topics related to your potential employer. Keep these in mind, as they’ll be worth discussing during the job interview. If applicable, you should also try to use one or more of the company’s products before the interview, and be prepared to discuss the products’ features and offer input.

Research the interview process

Try to find out who will be part of the interview process ahead of time so you can research these individuals. A simple Google or LinkedIn search will likely give you a strong starting point. The more you know about them individually, the better you’ll be asking and responding to questions. You might also consider asking the human resources contact for the company to provide you with an idea of the interview format ahead of time to help you better prepare.

Practice in front of a mirror

Always take the time before an interview to carefully think about the lasting impression you wish to leave. Make a mental list of your skills, accomplishments, creative endeavors and any volunteer work or special training you have participated in. If you are concerned about your nerves getting the best of you, jot down a few notes or bullet points to guide you through the interview. Don’t just THINK about your responses, practice them by getting in front of a mirror. Ask yourself a few anticipated questions out loud and answer them. If you have a friend available, do a mock interview with them and ask for feedback.

Dress and look professional

Plan to keep your attire basic and conservative. Most importantly, make sure whatever you wear is clean and pressed. That said, it’s not just about your clothing choices. Make sure your shoes are clean, your fingernails are manicured, and no loose hems or threads are dangling from your clothes. If you look your best, you’ll feel your best, which will boost your confidence. And confidence is key to pulling off a winning interview.

Be prepared

You don’t want to be caught short in the event that your interviewee requests a list of references. With this in mind, be sure to have copies of your references on hand, along with a few extra resumes and a notepad. This both demonstrates your sincere interest in acquiring the position and illustrates that you are prepared and organized.

With preparation and a passion for the job you’re applying for, Memphis is sure to exceed all your employment expectations.

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Glassdoor has recently compiled a list of the best cities in America for jobs, and Memphis made number 7.

Memphis, TN:

• Hot Jobs: Production Manager, Account Executive, Restaurant Manager
• Job Openings: 26,022
• Median Base Salary: $43,900
•  Ranked first in cost of living and 23rd in job satisfaction

With unemployment at a 50-year low and Memphis being the innovative city that it is, it’s no wonder that we’ve made the list.

To see the full list, check out this article from our friends at Commerical Appeal!

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You won’t find many cities around the nation that boast the startup rates you’ll find here in Memphis, TN. This is likely why Memphis has been included on CNN Money’s list of the top 10 best cities to launch a startup… twice.

In 2014, Memphis was ranked No. 10 by CNN Money. In 2015, it jumped up three spots to No. 7.

This impressive rise shows how quickly the city is becoming a hub for entrepreneurs. Whether you’re thinking about moving here or already live here and are considering starting your own business, let’s take a look at why Memphis entrepreneurship is booming.

Memphis is a leader in female-owned business growth

A lot of women are opening up businesses in Memphis. in fact, the city witnessed a 116 percent increase in female-owned businesses between 2007 and 2012. One inspiring female business owner is Neely Draughon, who founded Off the Square Catering in 2008. Draughon was an accountant in Nashville when she decided to attend pastry school and start her own company here in Memphis, and the rest is history!

Memphis was voted the best city for black entrepreneurs

What’s also fueling Memphis business growth is the uptick in black entrepreneurs opening up shop here. In 2018, Memphis was rated the best city for black-owned businesses by Black Enterprise Magazine.

Indeed, minority-owned businesses of all kinds have flourished in Memphis in recent years. Here’s a look at the numbers from between 2007 and 2012:

• Black-owned firms grew 100 percent
• Hispanic-owned businesses grew 113 percent
• Asian-owned firms grew 23 percent

As with the growth in female entrepreneurship, several factors played a role in the rise of other types of minority-owned businesses in Memphis, including the establishment of programs specifically aimed at women and other minorities.

Programs and funding are available to women and other minorities in Memphis

One of the biggest obstacles associated with starting a business is funding, and this is especially true for women and other minorities. To help, the Memphis-based nonprofit entrepreneurial organization Epicenter teamed up with Pathway Lending, a nonprofit community development financial institution, to launch the Memphis Small Business Opportunity Loan Fund.

Currently, the fund is composed of a whopping $15 million and is backed by three local lenders. Its aim is to fund business owners who may not qualify for conventional bank loans, with loans of between $5,000 and $1 million available to both existing business owners and those looking to launch a startup.

Starting a business (and a life) in Memphis

It can be tough figuring out the best place to sow your seeds. At the end of the day, you want to pick somewhere you can live, work and play. You’ll find an array of opportunities for all three here in Memphis, which is why it’s consistently listed as one of the top cities in the U.S.

If you’re committed to becoming a successful entrepreneur, then Memphis is definitely the place to be!

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In addition to its tradition of good food, blues, jazz and rock ‘n’ roll, Memphis has shaped several multimillion-dollar success stories. For instance, Restore Medical Solutions raised $4.15 million in funding, while the medical device company MRI Inventions has raised a massive $30.53 million in funding since its inception in 1998.

Needless to say, entrepreneurs around the world have taken notice of the success others are finding in Memphis. For example, Preteckt—a Canadian trucking-logistics startup that predicts vehicle breakdowns before they become major issues—relocated to Memphis after partnering with a local venture-development organization called Start Co.

If you’re looking to establish entrepreneurship success, Memphis is a city overflowing with possibilities. More importantly, it’s brimming with a network that can help you take your startup to levels you never thought possible. Here’s a closer look at some of the many reasons Memphis is booming as far as startups are concerned.

Existing strengths

Memphis is home to a plethora of thriving startups, and this is helping many aspiring entrepreneurs, incubators and accelerators move in the right direction. Given that the city is already home to several large hospitals and health-research institutions, it made sense for the Memphis Bioworks Foundation to launch ZeroTo510—a startup accelerator centered on bringing more medical device manufacturers to the city—in 2012.

A solid entrepreneurial foundation

When Leslie Smith, who previously served as president and CEO of TechTown Detroit, evaluated the city of Memphis’ approach to entrepreneurship, she found it to be missing a united strategy that was shared, repeated and recognized by all essential partners. As a result of her analysis, EPIcenter Memphis was launched. One of the biggest players in the city’s startup scene, the organization is working toward a goal of creating 1,000 new entrepreneurs and 500 new companies within the next 10 years.

Affordability

Did you know Memphis ranks among the top 10 cities with the lowest startup costs? In fact, the cost of rent for office space in San Francisco is nearly triple that of space in Memphis. Affordable office space puts money back into the pockets of entrepreneurs, allowing them to focus on other important aspects of running their businesses, such as product development and marketing. This makes Memphis very attractive to entrepreneurs who are on a tight budget.

From maximizing its existing strengths to facilitating future startup success, Memphis is building a platform that benefits everyone in the city.

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That’s what makes Memphis a viable option for entrepreneurs who are looking to start or grow their companies. Memphis even made it onto Livability.com’s list of five cities with enticing startup incentives, and a national study noted that Tennessee has the fourth highest business incentives in the country.

If you’re looking to relocate a business to Memphis, you too can take advantage of competitive City of Memphis taxes. Let’s take a look at some of the incentives you may qualify for once you open up shop.

Freeze your taxes during development

If you’re working on a project with a large capital investment, you may qualify for the Economic Development Growth Engine (EDGE) incentive, which will allow you to expand or relocate your business without worrying about taxes during the building phase.

To qualify, you must create at least 15 jobs and invest a minimum of $1 million in development. EDGE is designed for organizations that are fabricating, processing, assembling, manufacturing and distributing biomedical items, food, electronics, alternative fuels, cars and other products. However, auto dealerships, adult entertainment stores, residential houses, liquor and tobacco shops, pawn shops and payday loan businesses are not covered.

Incentives for international traders

If you trade goods with businesses overseas, you may qualify for the Foreign Trade Zone Program, which allows you to take advantage of quicker shipments for goods, lower processing fees and decreased duties. Note that thanks to this incentive, you can store, process, manipulate and integrate your international goods with your domestic goods before paying duties.

Tax-freeze for commercial real estate

Interested in making Memphis an even better place to live and work? See if you qualify for incentives associated with developing commercial real estate throughout the Central Business Improvement District and surrounding areas. Thanks to the PILOT (Payment-In-Lieu-of Tax) program, your taxes will freeze for a period of time during the pre-development stage. To be eligible, your new construction or site improvements must be at least 60 percent of the total cost of the project.

State incentives available to businesses

Other state tax incentives for which businesses in Memphis can qualify include the Jobs Tax Credit, which gives you $4,500 per job created, and the Industrial Machinery Tax Credit, which covers 1 percent to 10 percent of industrial businesses’ qualifying machine purchases. To maximize your financial standing, it’s a good idea to look further into sales and use tax exemptions and sales tax reductions for which your Memphis business may qualify.

There’s a lot to offer Memphis entrepreneurs here in Tennessee. If you’re planning to found or move a business here, now’s a great time to do so!

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One of the best cities in Tennessee to start a business is Memphis. Here’s a helpful go-to guide outlining the steps you need to take for starting a business in Memphis

Step 1

Wondering how to start a business in Memphis? Begin by coming up with business ideas that you’re passionate about. Do research to see if there is a demand for the type of company you want to start and to determine whether there are enough potential clients out there to make your business a success. Once you pinpoint which idea has the most potential, move forward to Step 2.

Step 2

A smart business plan is what a successful company is built upon. You should ask yourself what will make your product unique and how you will attract customers. Consider people you may need to hire and professionals you should connect with, then calculate the profits you need to make to break even and identify where you will get your funding.

Step 3

You will increase your credibility and be protected from personal liability by registering your business as a limited liability company (LLC). LLCs are easy to set up and manage, and they provide superior tax breaks compared to other business entities—especially in Memphis.

Step 4

If you plan to hire employees or open a business bank account, you will need to obtain a Tax ID number. Be aware of important tax laws, such as those pertaining to registering for sales tax and providing unemployment insurance on behalf of any employees you hire.

Step 5

To build your credibility and simplify accounting, it is a good idea to use a dedicated business bank account and credit card for any and all business transactions. Now that you’ve obtained a Tax ID number as detailed in Step 4, it’s time to set up your company’s accounts.

Step 6

Invest in quality accounting software to make accounting fast and easy. Downloading your bank and credit card transactions will help you track your performance and make things easier when filing annual taxes.

Step 7

You will need to obtain the required business permits and/or licenses to operate your new business. Be sure you are complying with federal, state and local government regulations.

Step 8

Purchasing business insurance is necessary to manage your risk and focus on developing your business. Consider general liability insurance and professional liability insurance. In Memphis, if you have five or more employees, you are required to have workers’ compensation insurance.

Step 9

To ensure your company is a success, you’ll want to build a convincing brand experience that will drive customer devotion. Truly think about the core values that drive your business and what your enterprise stands for, then incorporate these aspects into your marketing and day-to-day operations.

Step 10

Being active online allows you the opportunity to introduce yourself to customers and build credibility. With a web presence, you are not restricted to a customer base within the physical proximity of your shop’s location. When approached strategically, internet content marketing can be the doorway to success.

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Built for business

When you think of business and technology centers, Memphis may not be the first city that comes to mind. We are Memphis, after all, and music, blues, and BBQ are what we’ve long been known for. But Memphis is also home to some of the most cutting-edge technology-driven medical facilities in the country, including St. Jude Children’s Research Hospital and Methodist University Hospital.

Memphis isn’t a stranger to massive entrepreneurial success either. In fact, a once small company called FedEx found its start in the heart of Memphis and now brings in an estimated $45 billion in annual revenue. All Memphis entrepreneurs may not quite see that type of success themselves, but make no mistake – Memphis is built for business.

A Memphis state of mind

Memphis is where originality and soul converge to create change and as the power of Memphis is in its people, there’s no better place to shake things up. We are a city of doers, dreamers and believers. We create, we invent, we experiment. This “Memphis state of mind” is one reason why Memphis has been and continues to be the home of an impressive range successful of startups.

Money matters in Memphis

The simple truth is that startups often fail, which will likely have as much to do with money as with anything else. Just a couple of years ago, Memphis made the list of cities with the lowest startup costs, meaning entrepreneurs who set up shop in Memphis have an advantage over those in many other urban areas across the country.

A home for everyone

Memphis may not be known as a startup hub quite yet, but a rising number of people are learning that our city is diverse, innovative and invested in its people. Not only does this make Memphis a wonderful home for everyone, it provides an amazing opportunity for the next great startup.

No, Memphis isn’t Silicon Valley, but it could be the perfect headquarters for your business.

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