There’s a reason that certain major cities are the sites of so much innovation, but then there are the downsides like steep rent prices and intense levels of competition that accompany such popularity. Are you looking for an advantageous location for your new business to set down roots this year? There are a host of cities in the U.S. that have favorable conditions for starting a new business that you may not have even considered yet.
Once you find a fitting site for your business, you’ll want to research local and state laws regarding liability coverage to make sure that you have adequate protection before you even open your doors. The right business insurance policy will safeguard your assets, staff, and future. Happy hunting!
Minneapolis is a city of over 400,000 known for its Midwestern niceness and stunning natural areas. There are a couple perks for entrepreneurs who venture to the Twin Cities area. The city’s Economic Development team wants businesses to set up shop in Minneapolis and grow over time, so owners will have access to handy support resources throughout the process.
As Entrepreneur reports, Minneapolis recently had the 15th lowest business-tax rate in the nation and a bustling labor force of over 1.5 million people, which provides ample conditions for those looking to launch their brand.
Atlanta earned a solid A rating in the 2016 Thumbtack Small Business Friendliness Survey. Compare that to San Francisco’s dismal F rating, and you can see this Southern city of around 450,000 people deserves a second look when you’re considering where to headquarter your business. According to the same survey, how did Atlanta businesspeople fare against other U.S. cities?
-26 percent higher chance of finding licensing regulations easy
-19 percent fewer businesses claiming their tax rate is too high
-25 percent higher chance of finding health and safety rules friendly
-Only 4 percent of owners consider their tax regulations very unfriendly
You might ask yourself, “What’s even in Iowa?” As it turns out, affordable operating costs and plenty of booming business potential. Des Moines is the capital of the state, with a population slightly over 200,000 people and a metro area with three times that figure.
Des Moines earned a spot in the top half of CNBC’s 2016 Top 20 Metro Areas to Start a Business in America list, partly because the cost to conduct business in this area is 17 percent lower than the national average. With home prices nestled well below the national average—just $169,550—it’s a sure bet that this area will continue to attract families and workers in the years to come. CNBC lists some of the top-performing industries in the area as insurance, publishing, financial services, and distribution and logistics.
Maximize the chances of success for your business by choosing a location with the right mix of features for your industry. No matter whether you head north, south, east, or west, protect everything you’ve worked for by comparing business insurance quotesthrough CoverHound today.