Boston has seen major developments in the recent past. The total amount of money that exchanges hands in the city has doubled within a short period of time, thanks to the increase in the number of economic activities within the city. The total GDP of England is highly boosted by the economic growth of Boston. This article looks at the factors that has led to the growth of the Boston city economy.
The real estate industry
The increase in the population of Boston has seen the number of present housing become scarce to accommodate the swelling population. The administrators of the city have made it possible for apartment builders to build apartments for rent in Boston to compliment the old housing facilities.
The growth of this profitable industry has seen more and more investors come in to participate. This has, eventually, increased the number of people doing business in the real estate. Most of the investors put their money in construction of Apartments for rent in Boston as this seems to be on high demand.
Availability of more financial institutions
The good business environment in Boston city has seen the number of financial institutions such as banks and SACCOs increase tremendously. This has enabled even the small business individuals within the city to improve their business by borrowing loans from these financial institutions.
Business friendly laws
The laws enacted to guard the interests of business activities in the city of Boston are so friendly that everyone can easily and quickly start business. The tax system is friendly, enabling people to pay in accordance to what they earn. This has gone a long way to enable the business people to contribute to the growth of the economy of the city.
The security in the city of Boston has been enhanced when you compare it to other cities. This has enabled many people to feel secure setting up their businesses within the city knowing that their investment is safe. The government has done a lot to provide both uniformed and plain clothe police officers to ensure that there is order within the city. The security within Boston apartments has been enhanced to ensure that all those who live and do business within the city feels safe.