Tennessee has been described as an “early stage” state when it comes to hosting startup companies. This is exactly why it is the perfect state to launch a startup. From an affordable cost of living to a friendly business climate, Tennessee is primed to become the next startup hotbed. In fact, you don’t even need to come up with an idea.
According to this article on Outdoorsy.com, you can easily rent your RV or motorhome in Knoxville, TN to make a lucrative part-time or full-time income. In fact, Knoxville is the third-largest city in Tennessee after Nashville and Memphis. With the University of Tennessee, the Tennessee Theatre, Lakeshore Park and more, Knoxville attracts a hearty tourist and startup market. Continue reading to learn more.
If you want to look at California vs. Tennessee, that would be comparing apples to oranges. To illustrate, there is around $30 billion in venture capital invested in California compared to $200 million in Tennessee. Still, consider this: just a few years ago, it was $100 million for Tennessee–that is a huge increase within a short period of time.
Modern startups are looking for new pastures to conquer–isn’t that the premise of a startup? It would be difficult to carve your own path in California these days, especially considering the cost of living. Tennessee has a much more affordable environment allowing for people of a wide variety of budgets to carve out a niche for themselves.
Understand Tennessee Business Taxes
When launching your startup, it is important to understand the tax code of the state where you will reside. The good news is you can complete that action in one fell swoop.
The Tennessee Department of Revenue lays everything out in their handy Tennessee Business Tax Guide. Once you start reading through it, you’ll notice how relatively easy it is to acquire the right licenses and permits.
Another thing worth noting is Tennessee has a growing number of business incubators. They develop thousands of ideas every year. It’s just a matter of time before a few of them hit. The startup ecosystem in Tennessee is experiencing remarkable and palpable growth. In fact, LaunchTennessee screens around 2,000 pitches every single year to pick out ones for new businesses.
Plus, LaunchTennessee wants to attract $1 billion in venture capital. It’s all about trying to create something out of nothing. For entrepreneurs, this is a truly exciting environment where you can build something from the ground up.
Few remember the early days of startups in California as it was several decades ago. There isn’t any question that Silicon Valley led the way for the world in terms of startup and technological advancements. Entrepreneurs want to feel that buzz-y feeling once again.
It is about that time and anticipation between planting a seed and waiting for it to germinate, then blossom into something phenomenal. Tennessee is ripe and fertile. There are so many opportunities that have yet to be discovered. Now is the time to get there and be a part of it all.
It goes without saying that exciting opportunities exist in relatively-untapped markets. Tennessee is poised for growth. Will you be a part of that explosion?