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The Best States for Business

Should you really go west, young man (or woman)? Several news sources claim that they have found the best states for business development by constructing clever point value ranking systems. We analyzed them and figured out the top five states that are truly the best of the best to start a new business in.

  1. Virginia. Virginia is possibly the number one state on so many lists because it's right next to the nation's capitol. Virginia is also ranked highly because it has several pro-business laws. One drawback to consider is that the cost of living in several areas is high.
  2. Utah. Ding dong! Have you heard about the new city that is taking the world by storm? It’s Salt Lake City and it has a huge workforce ready to work for you, as long as you replace the coffee machine with a soda fountain. In a CNN Money graphic, Salt Lake City emerged as one of the best cities to start a business in the entire world. Utah's businesses-friendly laws for large and new businesses and its business tax laws were ranked in the top 10.
  3. Texas. It’s a big state with a lot of big deal cities. Namely, Austin which is bizjournal's #1 place to start a small business. Austin has seen 1.5% growth in the number of small businesses. That is an amazing amount of growth considering no other city broke .6%. If you’re thinking of starting a business that has anything to do with music, definitely start there. Texas is great for franchises with a tax spend of .5 - 1% for businesses earning over 300k. Another interesting factor, CNBC ranked it #1 for infrastructure and transportation. So, go look around Texas and enjoy the smooth ride on the road to your new business.
  4. North Carolina. This state isn’t just nice to small businesses, they have several institutes devoted to fostering new businesses. The Raleigh Business & Technology Center offers several services to small business owners from equipment to a 10 month program that provides essential courses on running a successful business. There are also a slew of tax breaks and incentives for starting businesses. Raleigh and Charlotte both ranked in the top 10 places to start a business. The regulatory environment is also good. How good? The state ranked #1 on Forbes list.
  5. ColoradoCNN included Colorado in a story last year about businesses in beautiful places all over the world. So, is Colorado paradise? Possibly. It’s home to the#1 city to live in the country and ranks within the top 5 states on several lists as best to start a business in. There’s a flat tax for business of 4.6%. If you're looking to start a completely new type of business it's perfect because it ranks second in innovation and has a large pool of talented workers you can poach for your new venture.

Sue Funke is a comedic writer with a background in e-commerce. She studied writing at Hofstra University and writes for several online publications. You can see her performances on YouTube or learn more about her online store at http://FunkeIndustries.tumblr.com

How Much Do You Have to Spend?

Whether you’re purchasing a whopper from Burger King or joining the Burger King franchise system, the old mantra holds true: there’s no such thing as a free lunch. When you first get started running a franchise you need to pay a fee to allow you to enter into that franchise. These fees are the largest fees that you will normally pay a franchisor and typically range between $5,000 and $1,000,000 depending on the franchise. The franchisor charges this fee as a way to recoup the costs of expanding the franchise and to continue to grow. From a franchisee perspective, this is a major outlay and can take a long time to make back, but is a necessary step. Aspiring business owners must understand how much capital is available to them so they can ascertain how much they can afford. The cash you have at your disposal is known as liquidity, and there are numerous ways to increase your liquidity above the balance in your bank account. As a result, many people don’t realize how much capital they actually can use for investments, like launching a franchise branch. We’ll run through some of those methods below.

Frozen Yogurt Franchises Are Freezing Over America

Yes, all of the aforementioned stores offer frozen yogurt. And most of the products they offer are kosher, fat-and gluten-free, all-natural, and filled with probiotics found in “regular” yogurt that support immune health. Speaking of Pinkberry: Where does the equally colorful, both in name and storefront, Red Mango get off throwing around allegations of copycatism?

Learn How to Grow Your Business from the Experts

Did you know that only about 50% of small businesses are able to last three years or longer? Do you want to be one of the businesses that is to succeed, profit, and grow?