Your Detailed Review of Choosing Your Business Site Accurately in the Us #infographic

Your Detailed Review of Choosing Your Business Site Accurately in the Us #infographic

It's easy to get an idea of new companies but running a company is tough. Starting a new company is sometimes difficult. The delay in putting your name on the line and making an investment in your company is causing millions. As per the U.S. Office of Labor Statistics, 20 per cent of small businesses close within one year, and only 50 per cent survive, and only for five years. According to U.S. Today survey, some of the best and worst places in the U.S. are running small business based on state policy, infrastructure, tax rates, operating costs, overall GDP and more.


5 Best places to start a business:

PUERTO RICO:
This area of the United States has very low corporate income tax rates of 4 per cent. It even has a 0 per cent dividend income tax so the firm does not have to pass the profits and dividends from the stocks to shareholders. Nobody likes to pay extra taxes and you could have paid too much when it comes to land if you don't want to face exemptions. But in Puerto Rico, there is 90 per cent exemption from real estate tax.

TEXAS: 
This position ranks No.1 in terms of the development potential and the current economic climate that usually reflects the job market, the stock market or the availability of credit. The companies are exempt from corporate taxes, and there are no legal entities to pay. Texas is great for small business growth, because it has the highest rates of success for companies.

UTAH:-
UTAHUtah is known as the best states for reducing business costs, with a high percentage of approved small business loans. The entrepreneurs have the advantage of starting their small businesses and growing them. This place also has low corporate taxes, so that there is no more pressure on the companies to pay tax.

WYOMING: 
WYOMING is free of corporate and state income tax which means that State income tax is levied on the taxable income of individuals, businesses, other properties and trusts at a fixed or graduated rate n. Income tax imposed at four per cent. This State ranks number 4 for the number of new entrepreneurs in the country.

COLORADO: 
This state is best suited for low start-up costs; creating new small business is a bonus point for people. It also has low in income tax rates. People in Colorado have better access to micro-credit programs that offer benefits to turning their hard work into self-independence and confidence for families and individuals, and they have a strong base for building their future.

5 WORST PLACES A BUSINESS To RUN:

HAWAII: 4 percent taxes are paid directly at the time of the production of the products, rather than at the time of sales, known as the excise tax on corporations. Companies are extremely expensive and that is why people cannot afford to start new businesses. Hawaii does not have the facilities.

WISCONSIN:
Only 0.19 per cent of adults per month turn into entrepreneurs. Limited access to equity and capital financing and the corporate tax rate is as high as 7.9 percent and the company needs to pay 7.9 percent of its income to shareholders.

WEST VIRGINIA:
In West Virginia there is a high unemployment rate, and people are unemployed, contributing to depression and poor ways of earning. Funding has reduced access so the opportunities for people are less. Because of less financial aid and no loan system, there is a small number of start-up companies.

RHODE ISLAND:
Corporations must pay 7 per cent of their income as taxes, which is no less. There is also a low rate of economic growth, so that the quantity of goods and services produced per head does not increase or so. It has poor infrastructure, the roads, homes, bridges etc. are poorly maintained.

LOUISIANA:
GDP growth has declined since 2017, and it has very few venture capital transactions. Poor infrastructure makes this one of the worst locations for startups in the industry.

Despite all the obstacles that business owners face, some states make it simpler for small business owners to operate and prosper. Provides money to people using micro-credits that are quicker and easier for everyone to use. There are also states with higher tax rates and restrictions that make life difficult for small businesses.

Your Detailed Review of Choosing Your Business Site Accurately in the Us #infographic

infographic by: oppbusinessloans.com

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