Thinking About Moving to an Entrepreneurial Friendly State?
Some parts of America offer much better places to open a business than others. While no state intentionally tries to discourage entrepreneurs, things like high electricity bills and complex regulations and confiscatory taxes can burden startups. The best states for small business owners typically boast thriving economies, easy access to funding and comparatively simple rules.
1. New Hampshire
New England’s Granite State makes it particularly easy to complete the initial process of starting a company. Locals earn relatively high wages, so many different industries prosper there. A lack of sales and personal income taxes increases disposable income while simplifying paperwork. On the other hand, companies that own buildings must pay substantial property taxes. Residents also receive high energy bills. The largest and most business-friendly city is Manchester.
2. Texas
The second-biggest state offers comparatively low utility rates, and officials have designed many of its regulations to benefit entrepreneurs. The Lone Star state ranks among the nation’s top tourist destinations, so lodging and dining establishments frequently achieve success. The cities of Austin, Amarillo and Dallas maintain especially favorable business environments. However, expenses remain high in certain places like Grand Prairie and Plano.
3. Louisiana
The Pelican State has labor laws that make it fairly easy for entrepreneurs to hire and employ workers. Some firms profit from Louisiana’s well-known tourist attractions or convenient access to seaports. Commerce experts call Baton Rouge the most entrepreneur-friendly city. The biggest drawback of starting a company in Louisiana is that it has slightly problematic zoning laws. Low average incomes put high-end shops at a disadvantage in some cities.
4. Idaho
Although it lacks ocean access and world-famous festivals, the Gem State provides great networking opportunities for small business owners. Startups also benefit from affordable energy, local agriculture and a fairly mild winter. Analysts have ranked the state capital as the most commerce-friendly locale. Entrepreneurs in Boise appreciate the city’s comparatively low cost of doing business. Nevertheless, it proves somewhat challenging to hire employees in Idaho.
5. Utah
The Beehive State lets people open new businesses with greater ease, and it maintains relatively lax zoning rules. Small companies in Salt Lake City have excellent access to commercial lenders, investors and other sources of funding. Northern Utah also features a fairly affluent population and attracts skiing enthusiasts from warmer regions.
6. Colorado
Entrepreneurs in the Centennial State appreciate its low utility rates, wealthy residents and business-friendly regulations. Nonetheless, Colorado’s safety laws remain somewhat difficult for startups to obey. It has a moderately high cost of doing business as well. Denver, Aurora, Fort Collins and Boulder offer the most desirable places to set up new firms.
7. Georgia
People in this southeastern state can easily establish startups without facing complicated paperwork or other hassles. They benefit from nearby farms and low business expenses in major cities like Atlanta. However, Georgia doesn’t have the best entrepreneur training services. Access to startup funding remains poor in Columbus and Augusta. Residents also pay comparatively burdensome energy bills.
Conclusion
The reality is that most entrepreneurs simply can’t choose the best state and move there. Few individuals want to leave behind their families and friends to seek lower tax rates or better zoning laws. Fortunately, well-managed startups can succeed almost anywhere with the help of Intigro’s business mentoring service. Companies achieve lasting prosperity when they profit from a seasoned executive’s impartial advice. Please contact us to set up an appointment.
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