You can have it good, for cheap, if you decide to start a franchise in Arkansas! In 2014, Arkansas was found to be the most affordable state to live in.
Where to Begin
If you want to live in Arkansas, consider one of the following locations:
Little Rock: The capital city, this is also the largest and most populated place in the state, clocking in with close to 200,000 residents.
Fort Smith Metropolitan Area: Although this area technically includes two counties in Oklahoma, it is a thriving corner of Arkansas and boasts 85,000 people in the city of Fort Smith alone.
Fayettville-Springdale-Rogers Metropolitan Area: Located in Northwest Arkansas, this is one of the fastest growing metro areas and has doubled in population between 1990 and 2010.
Let’s Talk Taxes
Arkansas has a corporation franchise tax, which might set you back a few hundred dollars, depending on what kind of franchise you open. In addition, the state also has a graduated corporate income tax, which varies based on net income. Arkansas also has a personal income tax, which swings from 1 to 7 percent based on income.
Adding up Arkansas
There are 241,455 small businesses in Arkansas, which make up 96.8 percent of all employers in the state.
Self-employment in Arkansas has improved over the last decade, and minority self-employment has seen the most growth.
Arkansas has six national park sites, 2.5 million acres of national forests and 50 state parks, truly earning its name as “The Natural State.”