Location is extremely important for businesses. If you are running a restaurant or a fast-food chain, you would want to be located in the part of the city where there is strong foot traffic.
Your location would also depend on your target market. If you are offering services that will benefit students, you would want to be near schools and universities.
While all states may have a city or two that are friendly to businesses, not all states have a strong business environment. You also have to consider the regulatory state of the state that you want to build your business in.
Some states have stricter regulatory rules when it comes to large businesses. There are also states that offer support and incentive packages to business owners that are interested in launching a business.
The Journal Record reported that doing business in multiple states may also present legal and regulatory problems for business owners. The best course of action is to carefully study the laws of each state where you want to operate in. If not, you can also hire a legal expert to do so on your behalf.
According to a report by Business Insider, some states attract more business owners more than the others. Taking into account the number of businesses created from 2013 and 2015 and the average number of secured patents per 1 million residents, U.S. News & World Report analyzed and made a list of states with the strongest business environment.
The top state with the strongest business environment is California, according to the study. With Silicon Valley, the state has long been considered the technology hub of the United States.
The list of states with the strongest business environment also includes Massachusetts, Idaho, Colorado, Utah, Florida, Nevada, Delaware, Washington, Arizona, New Hampshire, New Jersey, Minnesota, Oregon and Vermont.
Jobs & Hire previously reported that Portland in Oregon is considering giving jobs to panhandlers.