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Deborah can


Deborah can

Signed up August 22, 2022

What are entrepreneurs looking forward to in Washington?

What are the benefits and challenges faced by Washington business leaders during this time of rapid growth? Business News Daily reached out to a few Washington-based entrepreneurs and small business owners to learn more about their day-to-day experiences, including the benefits and challenges of business in Washington state.

Washington state has a booming tech industry.

Seattle's growing tech industry has propelled the state's economy forward, attracting new talent to Washington. This trend is great news for entrepreneurs as well as tech industry businesses, who profit from the growth of the tech business. As businesses earn more money, new startups are launched and more people are rushing into the state in search of work, entrepreneurs in other industries see their customer bases expand and their disposable incomes rise.

"We're seeing an enormous growth rate right now, due to the tech industry," said Nipul Patel, a media consultant for software companies who co-founded the network of entrepreneurs Townsquared. "It's associated with population shifts to the younger side and higher incomes, which is having a huge impact on many different ways. They earn more discretionary income. They can afford to buy more the products and services that small-sized businesses provide.

Puget Sound is well-known as the tech hub of the state. It houses campuses for large companies like Amazon, Google, Microsoft and Meta. Together, the rapidly expanding tech companies are responsible for hundreds of thousands of jobs in the state. Washington's tech industry includes over 13,000 businesses, accounting for over $103.5 billion in annual revenue and forming over 20 percent of the state's economy.


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