Businesses depend on many different influences for success. There are only so many things that you can control when it comes to the business market. However, the location of your business is among the things you can control when you are starting your business or when you need a fresh start.
If you are looking for a state to relocate your business, look no further than states out west. Nevada is one of these states that provide great circumstances for businesses to grow. When you think of Nevada, you probably think about desert and Las Vegas; however, Nevada is so much more than just sand and slot machines. In general, Nevada has a lower cost of living compared to other states. This means that not only will your business be cheap, but so will your gas, groceries, and rent. Another reason why Nevada is a land of opportunity for business is that their tax policies tend to be less harsh and there is no personal or business income tax.
Just east of Nevada is another state that has a favorable environment for businesses. Utah is known for industry and for that reason, it openly welcomes small businesses every day. As a result, Utah has a strong economy, and you can have confidence in a steady projected growth. This is equally beneficial to small businesses and consumers alike because when the economy is good then customers have more money to spend at your business. Financial support can make a big difference in the long-term survival of your business, and this is something that placing your roots in Utah can do for you. Additionally, Utah’s taxes are favorable to businesses.
When you think about tourism in America, one of the places you think about is probably Florida. Its warm weather year-round makes it advantageous for vacation, but also for businesses. Similar to the previous states, Florida’s tax policies are set up in such a way to give more money to the people with a smaller tax percentage. Florida is also a popular option for people who are looking for jobs, meaning that your business will have little trouble finding potential employees who are hardworking and ready to work. In terms of incorporating your business, Florida provides many benefits for businesses who become an LLC in their state.
Down south, the state of Texas is rising in the ranks of ideal homes for businesses to thrive. Like Nevada, Texas has a lower cost of living. This is attractive to employees, employers, and potential customers. Additionally, your employees may be attracted to the waterfront cities of Texas. For example, Houston is a common option for startup tech companies. Since Texas is also one of the largest states, there is plenty of real estate for your factories or for your offices. There is also the added benefit of tax breaks that will favor your business. As a result of where Texas is in relation to the rest of the United States, it becomes a central location to work with clients in the east and the west.
In Idaho, there are many more businesses that can be successful than just the farmers that most people think about. In fact, Idaho is becoming an ideal location for entrepreneurs from many kinds of markets. Like other states mentioned earlier, Idaho has a welcoming atmosphere for small businesses, which encourages economic growth and healthy competition. This can also be evident in the business tax benefits and credits that are specifically for small businesses. Additionally, Idaho is more of an up-and-coming location, which allows you to get your hands on a good chance before it becomes oversaturated with other businesses and entrepreneurs. As for you employees, they can enjoy temperate weather and a good quality of life in most cities you could start your business in.
Even though Rhode Island is significantly smaller than the other states mentioned earlier, it is a worthy competitor for locations that businesses should consider. As of late, many businesses choose to have their headquarters in Rhode Island. In Rhode Island, you are in a central location for the Northeast, including when you can interact with other businesses in New York City, which is just a couple hours away. Rhode Island is also an epicenter for innovative ideas coming from entrepreneurs. Additionally, Rhode Island is known for their sales tax exemptions and small business incentives. These can invite more consumers to your business and to help you to get your business’s feet on the ground.
Washington state is home to many large corporations, but it should also be on your list for potential places to relocate your business. This is largely due to the fact that Washington, like the other states, wants businesses to be able to grow in their state, so they try to formulate their tax policies in a way that allows businesses to benefit. Washington state has a high survival rate for startups as a result. Another benefit for growing your business in Washington is the access to the international ports of entry, which can help your business grow not only in the states, but all around the world.
In the Midwest, Indiana has also become a great option for businesses to grow and for them to be able to expand. To be more specific, Indiana is a welcoming place for businesses and customers alike. Unlike the other locations that are home to businesses specializing in the same market, Indiana is home to many different types of businesses. Comparatively, Indiana has a low cost of living and access to a diverse workforce. This makes Indiana a diamond in the rough when it comes to startup business locations. Like Florida, you will also have access to a strong workforce to support your small business for a long time.
Uprooting your business and moving to a new state can seem like a risky move. However, when you do your research about the tax benefits and low cost of living that many states offer, you can be secure in your decision to move.
Read this next: How to Reduce Your Overall Business Budget