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5 reasons why Berlin is the ideal city for millennial entrepreneurs

Berlin is without a doubt one of the coolest cities in the world. From its booming tech and startup scene to its vibrant nightlife, there’s much to be praised about the German capital, which was recently awarded the title of best city in the world for millennials in a study from Nestpick.

Millennials, born between 1981 and 1996, are one of the most diverse generations in the history of the world. They’re digitally and technologically skilled, well-travelled, keen on new experiences, and entrepreneurial – and here are five reasons why they should be taking these skills and entrepreneurial spirit to Berlin right now.

1. The startup scene

Berlin, or “Silicon Allee”, is Europe’s answer to Silicon Valley – while its startup scene is still relatively young and small when compared to those in the US and London, it is growing fast. Investment capital in Berlin more than doubled between 2016 and 2017, and today a startup is formed in the city every 20 minutes – and this crazy fast expansion shows no signs of stopping anytime soon.

With Brexit approaching, Berlin is starting to become even more attractive. Many entrepreneurs from around the world believe it could soon replace London as the main business and startup centre in Europe, as more skilled tech professionals consider leaving the UK, closely followed by companies looking to remain in the EU’s free market.

2. The low cost of living

Berlin offers surprisingly affordable housing, food, drinks and activities – especially compared to other tech hubs like London and San Francisco, where finding somewhere to live is next to impossible if you’re not a multi-millionaire. The average rent for a one-bedroom flat in Berlin’s city centre is around 795€/£704, compared to 1,800€/£1,600 in London, while the cost of monthly transport is 110% higher in London than in Berlin.

Low office rent, plenty of co-working spaces, and plenty of loan and funding programmes from the German government also help make Berlin one of the most attractive cities for young, broke entrepreneurs.

3. The culture, leisure, and partying

There’s a reason why Berlin scored a 10 out of 10 in the “nightlife” category of Nestpick’s ranking – the German capital’s party scene is second to none. From hip gay bars to world-leading techno nightclubs and underground, speakeasy-style pubs, you’ll never spend a boring night out – especially when German beer is involved.

But it’s not all about partying! Berlin’s cultural activities leave nothing to be desired either. History museums, music venues and art galleries compete with open-air cinemas, trendy restaurants and flea markets for the attention of cultured Berliners.

4. The diversity, equality, and openness

Part of what makes Berlin so cool is how vibrantly diverse and open-minded its people are. Germany has long been a country of immigration, and with around 500,000 foreigners in the city, the capital’s cultural diversity is second to none – trendy neighbourhoods like Kreuzberg (where else?), Neukölln and Wedding are some of the most multicultural in the city.

What’s more, Berlin is one of the most LGBT-friendly cities in the world – scoring a 9.7/10 in Nestpick’s study – and it’s also the most gender-equal startup hub in Europe.

5. The travel opportunities

Need a break from Berlin? No problem! Berlin is, quite literally, the centre of Europe. Germany is bordered by nine other countries (France, Belgium, Luxembourg, the Netherlands, Denmark, Poland, the Czech Republic, Austria and Switzerland, in case you were wondering) and many of Europe’s coolest cities are only a short flight away.

 

Want to learn more about the opportunities in Berlin for millennials? Get in touch with the Talent team!

 

By Stuart Day