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Are you thinking of starting your new business and you don’t know which are the ‘’hottest start-up US states’’ in 2020? Let’s have a look at TRUiC website and find out all the details about how and where you can start your business.
As investors we are always scouting top opportunities around the world for the startup scene. Although analysts have split opinions on which states are the best in the US right now, I think that what we’ve learned from TRUiC so far is quite helpful. At SnatchBot we love working with startups and set them up for low cost efficiency to make them more competitive. Now if you are in the early phases, here is what I propose you do:
Select your State to Begin
Do you want to start fresh? Did you graduate from university and you prefer to start your business? Here, you will find the best possible US states to grow your business idea.
Considering several different factors such as the estimated population growth, the new business opportunities, the graduation rate from the local universities and the government funding are recommended for you the best possible States to start your business journey.
Get a pen & paper and make notes
According to the United States Census Bureau, the highest estimated population growth will be in the States of Florida, California, Michigan, New York, Illinois, Texas, North Carolina, Ohio, Pennsylvania and Georgia. Likewise, the rest of the US states will notice an increase in their population too.
Hottest start-up scenes by ‘’field’’
If you are looking to create or expand your tech business best States recommendations are North and South Carolina, Florida, Tennessee and California. If you are in the music industry and you dream your own place in it, you should seriously consider going to Tennessee State. Nashville the capital, it’s the hottest music start-up hotspot.
Are you a Harvard or MIT graduate? Then probably you stay in Massachusetts. The rate of entrepreneurship in this State is high.
Do you dream to become the next famous entrepreneur in history? Such as the founders of Amazon, Google, Facebook and Apple who have some of their offices and operations in Washington, then you probably want to be nearby. Likewise, if you want to deal with logistics or manufacturing then Washington seems a good choice.
Are you a fintech and media talent? Then you might want to visit and build your business in Oregon and Connecticut.
Do you support the healthcare industry? Then Wisconsin and Tennessee are your States.
Are you thinking of launching your start-up in the food base industry? Then Oregon is highly recommended. But wait. When it’s about the food you can start your business everywhere!
How will you fund your Business? You may want to know the early-stage funding States!
The country of California enables young people to start their start-up company and provides them with funding deals. The State of Nevada approaches new businesses and helps with low taxes and incentives for the new entrepreneurs. Massachusetts state is considered as the top tier University State. The state provides funding deals to help the graduates become entrepreneurs. Also, the state of Ohio provides funding resources for new businesses. And of course, Texas, with the population growth and the growth rate of new businesses, provide funding benefits for the newbies. Finally, the state of Arizona is considered a friendly start-up state with low regulations and low-cost profile. You may also want to have a look here for new government funding opportunities.
Start your Business and Spend Reasonable
You may have decided in which State you want to land and grow your business, but what about the expenditures? Some States are expensive with high rents and lavish lifestyles and some others, maybe not that famous, are reasonable and promise you a fresh and a fair cost of living. According to US government websites and Missouri Economic Research and Information Center, in 2019 the 5 most expensive states to live and start your business are Hawaii Island, District of Columbia, California, New York and Oregon. Based on the average annual cost of living the 5 lowest costs of living States are Mississipi, Oklahoma, Arkansas, New Mexico and Missouri.
Start your business in… 50 States
If you have a fantastic business idea and you wish to implement it, don’t hesitate. Get on board and start building your business plan. If you need guidance, TRUiC will show you the methods and will provide you with all the important information needed to start your own business. In the website, you can choose any of the States you want to grow and follow the simple steps provided by TRUiC. You will find additional information and sources about how to grow from zero and become ready to start your dream!
Take Away
Being in the US means that you have plenty of choices. You can pick among 50 States and establish your own business from the ground. The US market embraces start-ups and creates a friendly environment for entrepreneurs.
