The small business world can be competitive no matter where you go, but it’s a good idea to know where the most chance of success lies. Read on for a list of the best places to launch your very own small business this year, and why that place makes the list.
1. Austin, TX
For starters, Texas has no personal or corporate income tax. Moreover, Austin’s population, employment rate, and small business growth have all risen significantly over the past year. With UT Austin right nearby, the city also provides an innovative group of students entering the city’s workforce every year.
2. Oklahoma City, OK
With 52 certified “business incubators” to guide start-up businesses, the possibilities for assistance are bountiful in Oklahoma City. Moreover, OKC’s cost of living is very affordable, and the place offers countless opportunities in the industries of oil and gas.
3. Charlotte, NC
Having increased by nearly 20% in population over the past five years, Charlotte provides a healthy environment for emerging small businesses. The state also offers many funds and grants to aspiring entrepreneurs, and has one of the country’s lowest business tax rates.
4. Denver, CO
If you’re a young entrepreneur seeking to start a fun and lively business, look no further than Denver. The city’s vibe is youthful, and you’re likely to find many kindred spirits. Moreover, the state even offers tax credit for small businesses that create more than 20 new jobs and pay that is above average.
5. New York, NY
You might think that the Big Apple is one of the most difficult places in which to start a business due to the competition. However, the fact that the city is so expansive just means more opportunities for innovation. The ratio of small businesses to residents is also much higher than that of most cities—at nearly 28 small businesses for every 1,000 residents! The main downside is that the city’s cost of living—not to mention real estate—is incredibly high. It all depends on what kind of business you’re looking to start—is it a restaurant? You might have better luck in New York than an oil company would.
Biz2Credit.com recently compiled a list of the Best Small Business Cities in America. Here is a link to that research: