It doesn’t matter if you are looking to open a new business or relocate. You need to choose a city that is ideal for both entrepreneurs and business owners. Virginia is an example of such a place.
There are many factors you should consider when researching different places to call home. James Nay can help you make the right choice. Reach out here.
Rentals in Virginia
Virginia’s average rent is around $1,254. With the population of Virginia being slightly over 8.5 million people, the rent is only slightly higher in some places. For example, a two-bedroom house’s rent is about $64 higher than the national average.
What’s more, Virginia itself is a great place to live because there are many options of neighborhoods to choose from and plenty of opportunities.
There are many different places in Virginia to locate your business, so you’re not limited to one location. You can decide which neighborhood best suits your needs and put your business there.
Affordability in Virginia
Virginia’s affordability is one of the reasons it is such an attractive place to start your own business. Virginia’s cost of living is lower than the average in the United States, at less than 100%. It is therefore one of the more affordable places to live.
The median house price in Virginia is $357,000. Furthermore, Virginia currently has more than 20,000 homes on the market. If you’re having trouble coming up with a down payment, assistance may be available for homebuyers in the form of mortgage credit certificates, VA loans, the Energy Efficient Mortgage program, or the Homeownership Voucher Program.
That said, recent reports show that Virginia as a whole is short on available rentals. As a result, you might have a hard time finding a place to live.
Community
A supportive community can make all the difference in the success of a business. Does Virginia have a supportive community? At present, the housing shortage might make the community less engaging.
As an entrepreneur looking to make your mark, these are all very important things to consider as you plan to start your own company or relocate.
Quality of Life
Virginia’s quality of life is one reason Virginia is such a great place for a business. The city boasts a great school system and a high graduation rate. There are many recreational opportunities for all ages.
These factors make Virginia an ideal place to start a business. Startups will find Virginia to have many parks and events, such as:
Patriotic Festival
SevenVenues
Dr. Pepper Park routinely hosts events throughout the year, from popular musicians and bands to tours and more.
Education
You will find several colleges and universities throughout Virginia. This ensures that your small business will have access to bright and eager young talents.
Some of the schools in Virginia include the University of Virginia, University of Richmond, George Mason University, and more.
Image courtesy of Pexels
Business Quick-Start Checklist
What do you need to start a business in Virginia?
Company Name
Business Plan
Legal Structure
Funding
Licenses and Permits
Wrap Up
Lastly, you should consider forming an LLC when you are choosing a business entity. An LLC will give you advantages that are not available to other entities, such as less paperwork and greater flexibility, less liability, and much more.
Every state has its own laws regarding LLCs. So make sure to follow them as you create an operating agreement in Virginia.
Author Vanessa Holwell | Hiring Squad