Las Vegas is a Great Place to Start a Business: Your Chances of Potential Economic Prosperity
February 26, 2014
Those who don't live anywhere near Nevada may not realize that Las Vegas is a great place to start a business. While you may just think of Las Vegas as all glitz, glamor, and large corporations, it doesn't get reported enough about how start-ups opening in downtown are thriving exponentially due to various positive economic developments.
Everyone knows by now of the recent investment of funds in the Downtown area from Zappos CEO Tony Hsieh. He also helped establish the Vegas Tech Fund as a place for start-ups to gain some seed investment money and help build downtown Vegas into a thriving business hub.
There are a few top reasons why you should locate your start-up in Vegas. Once everyone knows about them, it could turn downtown Vegas into a new business mecca.
Inexpensive Real Estate
Within the last year, Forbes says that downtown Vegas real estate is going for quite cheap. It's a good time right now to get your dibs in on this property and buy it at these low prices while still available. Even if it's noted that parts of downtown may need some upkeep, it's expected this region will be thriving in another few years. Because cost of living here is also cheaper than the national average, it makes it even easier for your employees to live in the area. This includes rent if you plan to lease a building for your start-up.
There really isn't any other state that can compare in tax savings than Las Vegas. Consider you have no business or personal income tax to worry about, nor any franchise or gift taxes. It's a utopia for someone who's wanted to start a business, yet balked due to tax fears in their respective state. Once downtown Vegas becomes a thriving business metropolis, you'll be able to pull in maximum profit without having to worry about giving so much of it away to Uncle Sam.
Consistently Sunny Weather
Most people like sunny weather, and it's going to create a psychologically good feeling in not only your employees but also the customers. While we'd recommend some sunscreen during the summers, the weather in Vegas is fairly consistent most of the year, other than a few offbeat exceptions. This can help you immensely on insurance costs, because the chances of natural disasters are quite small compared to hurricane country.
The Las Vegas Redevelopment Agency reminds how fast permitting and licensing aid is in the downtown area. This alone can help speed things up for you when you want to open doors as soon as possible. And with new construction and building rehabilitation services available, you can get your location set up quickly without needing to spend a fortune on construction costs or refurbishment.
If you're starting a tech company, especially, you'll be in good company based on the emergence of so many tech firms opening here. In fact, it's been noted that it could turn into a new Silicon Valley very soon and potentially rival the famous one in Southern California.
Here at Crowd Siren, we can show you even more business potential if you open your business in our home city of downtown Las Vegas. We're an online media and branding company that can guide you through the steps of getting your business noticed through a combination of social media and traditional markets.
Contact us so we can start working with you in getting your start-up going. If you choose Las Vegas, we look forward to being your neighbors.