Business View Magazine | December 2019

27 BUSINESS VIEW MAGAZINE DECEMBER 2019 S tarting a new business can be both a very exciting and stressful process. The key to having a successful small business is finding ways to mitigate risk. Studies show that over 80 percent of small business failures are caused by cash flow problems. This is why having a budget is one of the main things you need to focus on. If you are looking for a way to save money and give yourself the best shot at being a successful business owner, choosing the right state to set up shop in is vital. Rather than rushing through this important decision, take some time to weigh all of your options before making a selection. The following are some of the most affordable states to start your new business venture in. The Great State of Texas When people hear the state of Texas mentioned, they immediately think about things like large cattle ranches and downhome people. However, in the past decade, Texas has developed into one of the biggest small business communities in the country. The government of Texas revels in the fact that they pass laws and regulations designed to help foster free-market opportunities. If you set up your new business in Texas, you will not have to worry about paying corporate or income tax on your new venture. This state has the second-highest number of small businesses in the country, which means there are a lot of networking opportunities for new entrepreneurs. Once you have found and invested in a commercial building in Texas, your next goal needs to be finding the best price on energy. Be sure to check out the Texas Electricity Plans site to find out more about the rates in the area. With the information from this website, you should have no problem getting the best price on the electricity you need in your new commercial building. Florida is a Great Place For Entrepreneurs Did you realize there are over 2.5 million small Most Affordable States to Start Your Small Business