Which is the Best State to Start Your Small Business?
by Bella Scotton
Starting a Small business is no easy task but it can be a rewarding one, if you take all the right steps. The first thing you are going to learn is the term, location, location, location – which most everyone knows. Even with the world of the internet being a viable resource for small businesses, location still plays a very important role in the success of the new business entity.
Location Begins With Choosing the Right State
If you are setting out on a serious new business adventure then you may have to be flexible enough that you are prepared to move to a State that is going to offer you the best start up business opportunity. This means you need to do your research to determine what this is. Keep in mind it is also going to depend on what kind of industry you are entering into.
There are three key factors to keep in mind.
The Business Environment:
You want to be in a location where business is thriving even if it means that you are going to be up against some competition. Keeping in mind that competition is good for business.
There is no doubt that you are going to have to rely on specific resources for your type of business. You want to be able to easily access these so you can keep your business costs down.
The Cost of Running a Business:
Here is where you are going to not only have to do some research but also do some cost comparisons. There is no point in starting a business if most of your money has to go back into its operation.
With these three factors being used as the metric the following are the three top States that have scored well for starting a small business.
- North Dakota
Success Stories for New Start Up Businesses
When looking at resources for a State that you are considering starting your business in, one of these is the small business development resources. North Dakota has such an organization and clearly lists a very impressive selection of business owners that they have helped get their business off the ground. They have done this by providing them with a lot of the resources that every business needs to get it kick started.
Just to give you some examples of some successful starts ups for Utah all you need to do is take a look at the success rate of the Small Business Development Centers for Utah. You will soon see a list of small businesses that fall into several different industries. This is encouraging because it shows you that there is diversity in the types of businesses that are reaching levels of success.
Like any economy Oklahoma has its ups and downs, but the small businesses here are very astute at riding out the storms. One of the biggest factors that they contribute to their small business success even in rocky times is the low cost of living.
Even if these three States are not to your liking there are plenty of other States for you to consider. It is a big step that you are taking, and you have a lot of things that need to be considered. Not only do you have to put some thought into the business venture viability, but also is the State you are choosing going to meet all of your personal living needs?
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