“Business opportunities are like buses, there’s always another one coming.” – Richard Branson.
Following your decision to immigrate, the first factor to consider is building your business. Supported by a strong economy and skilled workforce, there are a myriad of locations that host the perfect environment for your enterprise. Based on tax burdens, patent creation, and business creation, we have picked five incredible locations to look at.
This state is the top choice for your capital venture. Comprising a population of over 6 million, Massachusetts hosts a patent creation of 1 165.9 per million individuals and has one of the lowest tax burdens in the country at 9.7%. This state is also an ideal choice to live in with the second highest level of healthcare and education.
As one of the most popular states in the nation, California has everything to offer including access to Silicon Valley’s technology, Hollywood, and Napa Valley’s vineyards that produce some of the most exquisite wines. This state also hosts the second-highest amount of venture capital investments and produces patents of 1 163.5 per million individuals from a population of over 39 million that is continually growing. With a tax burden of 10.3% and business creation rate of 3.5%, California hosts your dream location to start your next business venture.
If you’re seeking the ultimate location to begin your enterprise, look no further than Idaho. Sitting at the highest business creation rate in the country, at 4.1%, this state also hosts a low tax burden of 8.9%. From a population of almost 2 million, we see patent creation of 483.8 per million individuals showing incredible opportunity for investors to start up their businesses. Idaho is ranked 3rd overall in the country for their economy when it comes to business environment, employment, and growth.
The state of Washington holds the highest overall ranking in the country. With the third-highest patent creation rate at 1 058.0 per million individuals and 3.5% business creation rate, the state has a population of over 7 million and GDP of $613 billion, making it a great choice for a sturdy business venture. The state is responsible for growing 70% of the country’s apples, and a massive driver for milk and potato production.
With a population of almost 6 million, Colorado has a patent creation of 605.9 per million individuals with the fourth highest amount of venture capital investments in the country. With the second highest economy ranking in the nation, this state performs exceptionally with its business environment and employment rates. Colorado also holds one of the lowest tax burdens in the nation at 9.0%.