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So often, entrepreneurs limit their business potential by not considering where they’ll do business. And by this I don’t mean which side of town is best for your startup …I’m talking about which state is best.
There are 50 glorious states in the U.S. each with their own culture, perks and advantages that could mean serious business for your business. You don’t have to settle for your home state…
Unless of course your home state is one of the five mentioned in this post.
1. Austin, TX
Arguably the epicenter of art and culture in the US, Austin, Texas is known for its vibrant, foot-stomping, yee-haw music scene and award-winning BBQ joints. Because of its diversity of culture, art, food and music, it’s one of the few markets that is able to support a full range of kinds of startups.
Austin also ranks high when it comes to start-up funding, coming fourth in early-stage deals. Consumer products companies like Yeti Coolers and jeweler Kendra Scott have Austin to thank for blowing up.
2. Salt Lake City, UT
While known for its stunning views and ski slopes, Salt Lake City is more than a pretty face—it’s becoming a booming start-up scene. Matter of fact, a recent Forbes article ranked it as No. 1 in the nation for entrepreneurs. This is due in part to its highly educated population, its diversified economy, and its good cost-of-living to income ratio.
On a superficial level, Salt Lake City is situated in what’s known as a Goldilocks zone meaning it’s never too hot, never too cold, has low humidity and four seasons. Excuse me while I pack my bags.
3. Boise, ID
If you’re looking for cheaper rent and a less saturated entrepreneurial marketplace, Boise is the city for you. It’s not only one of the safest cities in the world, Boise’s combination of affordability and do-it-yourself spirit make it the perfect place for creatives, entrepreneurs and startups. The tech scene here is growing fast as well, with many Silicone Valley transplants now calling it home.
4. Las Vegas, NV
Despite what you may think, Sin City has more to offer than its casinos and nightclubs. It’s actually considered the best state in the nation for business formation. That’s due in large part to its unbeatable tax advantages which include: NO state tax, NO corporate income tax and NO personal income tax. The tax perks, asset and lawsuit protection, and enhanced privacy laws is why big tech companies like Tesla, Microsoft and Apple relocated to the desert state.
It also has a burgeoning arts scene, award-winning shows, breathtaking hiking trails and low-cost of living. If you can stand the heat, Las Vegas is a great place to launch your enterprise.
5. Charleston, SC
This charming, coastal southern town, known for its globally renowned food scene and rich history, has quickly become one of the top places for entrepreneurs. This is due to a growing tech-startup scene and new packaged-goods brands taking advantage of the city’s passion for food. Like Boise, this is a great place for people who want less competition in the entrepreneurial marketplace. But at the rate this town is growing, that won’t be the case for long.
You don’t have to limit your business to your zip code. There’s a great, big world out there full of opportunity and untapped potential just waiting for your creative input. Go and get it!
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