When it comes to starting your business, location matters. Depending on the type of venture you're entering into, where you decide to establish your company may impact its success.
Some locations are more conducive to a successful small business climate. In fact, a CNN Money article recently reported on how the state of Kentucky has been implementing improvements to create a better atmosphere for small business owners.
The article details data from a survey conducted by the Kauffman Foundation and Thumbtack.com that rated Kentucky as the ninth-best state for ease of starting a business. Over the past year, Kentucky had implemented initiatives to help small businesses succeed, leading the state to become the most improved on the list.
In addition to Kentucky's improvements to the small business climate, the Thumbtack Small Business Friendliness Survey, which incorporated data from more than 12,000 small business owners, found that the states that received the highest friendliness ratings were Louisiana, Texas, Idaho, Virginia and Utah.
Notably, the survey found that when small business owners had an awareness of government training programs, they believed government to be friendly to small businesses. Those who did not, found government to be less friendly. As we have mentioned previously, the Small Business Administration (SBA) features resources on how to start a business, secure funding, and much more.
Location is an important consideration when starting a business, and it's worth noting that the decision about where to incorporate is important as well. When thinking about the jurisdiction that will be the legal home of your company, some places may offer advantages over others. For example, 50 percent of all publicly traded U.S. companies are incorporated in Delaware for the benefits it brings.
Incorporating your business is an important step and an online incorporation services company can help answer any questions you have about the process, and where you should incorporate your business.