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Best Cities to Start a Home-Based Business

Best Cities to Start a Home-Based BusinessThe economic environment of a large federal country such as the United States means that each separate state has its own regulations and laws concerning various aspects from housing to running a business. This means that some states and cities are more favorable to small companies which do not have a large starting capital to count on.

When it comes to home-based businesses, there are two key issues to consider when deeming a city business friendly or not: the ease for registering a business and the average cost of living (including home insurance). A beginner entrepreneur’s chances of succeeding in their business idea depend greatly on these issues.

Most potential home-based business owners are also interested in growing their business beyond this initial status. Thus, another aspect that makes various cities business friendly is the tax incentives or development opportunities they offer to small business owners.

Taking into consideration all these aspects, these are the best cities in the USA to start a home-based business and hope for its sustainable growth:

1. Oklahoma City, Oklahoma
This city has three key claims as one of the most business-friendly cities in the US:
⦁ In 2013 NerdWallet named it as the best city to start a business
⦁ In 2015 Forbes included it in the list of the most affordable cities to live in
⦁ Various publications name it as the best place to live for young graduates and for starting a business

These three credentials recommend Oklahoma City as a great development hub for small and home-based businesses, with an affordable cost of living and lots of business growth and networking opportunities among your peers.

Another feature making Oklahoma City a great place to start a home-based business is the fact that the paperwork for registering a business is very simple and can be filed in just one day.

2. Boulder, Colorado
Colorado is already preparing to steal the name of “Silicon Valley” and make it their own. The American Electronics Association reported recently that Boulder features the highest concentration of software engineers per capita in all of the United States.

This city is a place for tech-inclined entrepreneurs. Both the University of Colorado at Boulder and various other research labs are powerful hubs for attracting talent and significant funds. There are plenty of opportunities to supply your services as an independent contractor and grow a successful home-based business.

3. Boise, Idaho
Voted the best city to live in after applying a complex scorecard including cost of living, weather, income and amenities, Boise is the place for small business owners who want to enjoy a perfect balance between their work and personal life. Featuring one of the lowest home insurance rates in the US (around $516 in 2014), Boise also offers a supplementary incentive to entrepreneurs: members of the Boise Metro Chamber of Commerce enjoy various discounts for local sports and entertainment events.

4. Nashville, Tennessee
Nashville is more than the heart and soul of country music. It is also a fast-growing business hub powered by low home prices and low taxes. These two aspects combined mean that businesses have a potential market of customers with sufficient spare money to satisfy their needs and indulge in hobbies.

As an added bonus, Nashville Area Chamber of Commerce members benefit from lower processing fees for credit cards.

5. Minneapolis, Minnesota
Minneapolis features the fourth largest concentration of small businesses in the United States. This says a lot for would-be entrepreneurs, and is justified by the fact that the state of Minnesota has the 15th lowest business tax rate in the US. Also, Minneapolis attracts potential business owners by offering them various financing programs.

Thus, Minneapolis is the right place for you if you want to start and grow a small business in the middle of a powerful business hub with lots of potential partners and customers.

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