Entrepreneurs interested in filing an LLC should consider starting their company in a state that is catering to small businesses.
Several states are offering startups incentives to open in their region in an attempt to boost the local economy. This is a great opportunity for entrepreneurs. Nolan Bushnell of Inc. magazine notes that the size and scope of incentives have greatly increased in several states, including Georgia, Michigan and North Carolina.
Area Development magazine awarded Georgia a Silver Shovel award for the state's efforts to attract new business opportunities. The state of Georgia reports that it has 700,000 incorporated businesses and 95 percent of them are small, employing fewer than 50 people. Companies in Georgia that have 50 or fewer employees are eligible to receive $250 per certified Work Ready hire – up to $1,250 – to offset hiring and training costs.
North Carolina offers several grants for technology startups. The North Carolina Green Business Fund awards money to small businesses that encourage the development of green technologies. The One North Carolina SBIR/STTR Phase I Matching Funds Program awards matching funds to technology firms that have earned a Small Business Innovation Research Program or Small Business Technology Transfer Program Phase I award.
These states and many more offer similar incentives, making it worthwhile for entrepreneurs to research which states cater to their sector.
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- North Carolina’s Biz Boost Program provides guidance
- Corporate tax incentives in North Carolina give entrepreneurs good reason to incorporate
- Medical device supplier receives award, significant funding
- North Carolina lawmakers push for small business tax cuts
