• News
  • Celebrities
  • Finance
  • Crypto
  • Travel
  • Entertainment
  • Health
  • Others

Want To Embark On A Business Adventure? Make Sure To Do It In The Right State

Despite the tumultuous past couple of years, the U.S. saw a tremendous growth in the number of new businesses. Entrepreneurs from all over the nation braved, and continue to brave exciting, as well as intimidating business ventures, but one thing they all carefully considered before taking any action is the location. In other words, even though it might be the perfect time to start a new business, a key factor that shouldn’t be overlooked is where. At the end of the day, “where” is what will determine the advantages, disadvantages, and challenges that you might have to face along the way. Reports from Bloomberg also support these facts, as their recent findings showed that, “For example, states with higher vaccination rates are more likely to drive higher economic output…”

For entrepreneurs who are considering starting their business in 2022, studying a state-by-state analysis would be a smart step in order to gauge the best entrepreneurial environments that they would want to be a part of. Factors to consider include business survival rates, cost of living, filing fees, as well as tax rates. According to Insider, “Texas took the lead spot — thanks to its low cost of living and high rate of entrepreneurship — as high-profile founders flee expensive coastal hubs for the Lone Star state. Meanwhile, Washington, DC, ranked last due to the area's high filing fees and taxes.” So let’s have a look in which states you will be most likely to see the success you want.

The Lone Star State

A great number of entrepreneurs, (especially from the west coast) are flocking to Texas to build their dream. Recently, one of the major figures in the world of economy and technology, Elon Musk basically relocated his empire to the lone star state due to its many perks. However, it’s not just the big names that are attracted to Texas; small and first-time business owners choose to settle down here mainly because of affordable living costs and business success rates. Opting to form a Texas LLC is a particularly attractive option for people who are just starting out in the world of business. This is mainly because the process is simple and inexpensive. According to Legal Zoom, “The basic total cost of forming an LLC in Texas is $300” which needless to say, is as good as it gets for a business man who’s just starting out.


More often than not, most people, including entrepreneurs, think of marijuana businesses when they think of the Centennial State, and they are not in the wrong to do so. However, what many may not know is that Colorado, or moreprecicely, its capital ( Denver) has one of the fastest growing tech industries in the United States. According to Powderkeg's 2018 tech census, other branches in this arena include artificial intelligence and machine learning, blockchain, and cryptocurrency. Colorado’s unemployment rate is also only 6.5%, which is lower than the average unemployment rate in the U.S. One the factors that plays into this low percentage is the state’s education rate per capita. The one slight disadvantage entrepreneurs might face when moving to this state however is the cost of living as it’s a bit higher than some southern states for instance. The average home value in Denver ranges between $400,00-506,000.

North Carolina And Iowa

The reason why entrepreneurs from all over the U.S. are drawn to North Carolina is because of its relaxed license policies and low taxes. “The corporate net income tax is at 3% flat, sales tax is a flat 4.25%, the personal net income tax rate is a flat 5.75%, and there's no city tax.”, reports Insider. One of the thriving business branches in this state, specifically in Charlotte, is the fintech business, mainly because of its robust banking industry.

Similarly, Iowa or the Hawkeye state is another place where people flock to to start a new life. This state has been voted as one of, if not the most affordable place to live in the U.S. And just like Colorado, its unemployment rate is low, at 5.4%. But what’s most encouraging about starting a business in this state is the fact that it has an above average business survival rate, which is currently 81.4% according to the most recent findings.


The Buckeye state is the one of the best spots for businesses that are retail -focused, as “26% of the state's jobs are in the retail market, with a total GDP impact of $130.7 billion” reports the National Retail Federation. The state has also been known for what’s described as “low-hassle and affordable business filing experience”. A business owner would have to set aside only $99 to file an article of incorporation, which is a legal requirement when a new business owner is about to launch a corporation.

So before taking any definitive steps, make sure to consider the “where” as location really does play a significant role in the formation and growth of your business.

About The Authors

Kenzo Norman

Kenzo Norman - Kenzo is a journalist-turned-marketer who is fascinated by how storytelling and targeted marketing can result in content that changes businesses. He is responsible for implementing inbound marketing strategies that help his clients raise brand awareness, generate leads, and gain new customers as an Account Executive. Jason enjoys reading on the beach, tracking down mono records, and playing guitar when he is not working.

Recent Articles

  • Crypto Accessories Every Crypto Holder Should Know About

    Crypto Accessories Every Crypto Holder Should Know About

    These days, crypto accessories and gadgets can be found everywhere. There is a vast selection of products available for purchase, ranging from cryptocurrency wallets to devices that make buying and storing NFTs easier. If you enjoy cryptocurrencies and would like to own some, trade some, and play around with it, read on. These Bitcoin accessories will quickly become some of your favorite electronic gizmos.

  • MoviesCouch Hollywood Movies Download – Down, Down The Drain

    MoviesCouch Hollywood Movies Download – Down, Down The Drain

    It looks like one site will let down film lovers who used to frequent it for movies that they can download for free. If you’re looking for MoviesCouch Hollywood movies download, prepare to be disappointed.

  • Best Lotion For Jerking Off That Won't Damage Your Skin In 2022

    Best Lotion For Jerking Off That Won't Damage Your Skin In 2022

    Many people nowadays are looking for the best lotion for jerking off that will enhance their self-pleasure moments while not harming their skin.

  • Gerard Butler Net Worth - The Real Leonidas Of Sparta

    Gerard Butler Net Worth - The Real Leonidas Of Sparta

    The Scottish actor Gerard Butler net worth is $40 million. Gerard originally majored in law, but he gradually drifted toward acting and grew to be one of Hollywood's most known faces.

  • Keanu Reeves - $380 Mill Net Worth, Career, Earnings And Lifestyle In 2022

    Keanu Reeves - $380 Mill Net Worth, Career, Earnings And Lifestyle In 2022

    A musician, actor, producer, and philanthropist, Keanu Reeves net worth is $380 million. He has acted in scores of movies throughout the years, some of which have grossed billions of dollars at the box office. He is likely best known for the John Wick and The Matrix movie series.

  • MoviezAddiction.Website – Feeding People’s Craving For Films, TV Shows

    MoviezAddiction.Website – Feeding People’s Craving For Films, TV Shows

    Addicted to movies and TV shows? Not wanting to make you become more obsessed, but have you heard about MoviezAddiction.website, a source of thousands of films and shows you can download?

  • Can You Trust Rhino Air Hockey?

    Can You Trust Rhino Air Hockey?

    Work and family take up so much of our time these days that it's surprising how little time we have left for our enjoyment and fun. But just because we're adults doesn't mean we have to make our whole lives about work. You need to play Rhino Air Hockey Table to add joy to your life, relieve stress, and connect with other people and the world around you.

  • How Much Is A Mail Order Bride? Mail Order Bride Cost Estimated

    How Much Is A Mail Order Bride? Mail Order Bride Cost Estimated

    Interested in mail order bride pricing? Our estimations of mail order bride cost will help you on your quest for a foreign soulmate. Read this to learn more!

  • Head Of AmCham Guatemala Juan Pablo Carrasco De Groote: The “Art Of The Deal” (Guatemala-style)

    Head Of AmCham Guatemala Juan Pablo Carrasco De Groote: The “Art Of The Deal” (Guatemala-style)

    For over 10 years, the head of AmCham Guatemala has been Juan Pablo Carrasco de Groote – the unchanging face of the chamber of commerce.