When it comes to starting a small- to medium-sized business, location is very important. However, some entrepreneurs fail to take this variable into account when they set up shop.
Based on a number of different factors, such as taxes and client opportunity, some states are much more business-friendly than others, according to a report from CNNMoney.
The news source says that Arizona is currently the most popular location for startups in the country, at a rate of 520 businesses per 100,000 adults. Much of this growth is the result of economic hardship in neighboring California.
Meanwhile, Texas was recognized as being another great place for startups, with a rate of 440 businesses per 100,000 adults, the report said. This success can be attributed to a tax-friendly environment, which means many small business owners can keep more of their hard-earned cash in the pockets.
No matter where an entrepreneur decides to set up shop, chances are they will require liability insurance. With this coverage, a company can be protected should they encounter an accident, loss of business or other damaging event later on down the road.