Top 3 States to Expand Your Small Business To
The US is often thought of as the “land of opportunity” and this could be partly due to the fact that in most states it’s relatively easy to get a business up and running, and see success fairly quickly!
Best States to Start or Expand a Business
While there are many options out there (at least 50…), with each state’s differing tax laws and regulations for the many industries, some may be better-suited for your particular business than others.
Texas has one of the most business-friendly economic climates around. Proof of this is its constantly lower rate of unemployment compared to the national average. It not only has Dallas and Houston – two large economic centers – it also has many smaller cities spread all around, making it very easy for a small business to grow without moving into another state.
Major companies headquartered in Texas
- American Airlines
- Dr. Pepper Snapple
The tax rates in Texas compared to other states are relatively low, including no individual income tax(!), making up for it with higher property and sales taxes in certain areas. Even being a large and populated state, the regulations are fairly relaxed and welcoming for new business.
Many startups seem to be gathering here, which creates a supportive community of people experiencing the same stresses that young and small businesses go through. You can find a good supply of potential employees here just like Texas
Major companies headquartered in Georgia
- Home Depot
Georgia has friendly business taxes and pretty friendly regulations, along with the tolerable standard of living costs.
This state is not only full of nice people and good workers, it’s ranked in the top 10 in the nation for business survival rates. Check out the famous business centers in Asheville and Durham-Chapel Hill-Winston.
Major companies headquartered in North Carolina
- Bank of America
- Duke Energy
Taxes are reasonable, the state is ranked fourth best overall, and 11th for corporate.
When you’re ready to make the step to expand your small business, either to another location in your state, or beyond, WCM is here to be your partner in success. Contact us today to ask any questions you have about the lending process.
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