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While the shift to ecommerce has been rapid especially in the recent past, there is still a need for brick-and-mortar presence. Finding the ideal city to launch or relocate your business is one of the most important decisions you have to make. Before you buy a home and relocate your life and business, there are several factors you need to consider.
One of the most suitable places to relocate to is Salem, the capital of Oregon. Aside from plenty to see and do, some of its best qualities include no sales tax and a low cost of living. Most of these qualities are what make it the ideal place to live and run a successful business.
The Sadle Home Selling Team offers several reasons why Salem is the perfect place to relocate your business.
Salem offers plenty of inexpensive living options. Affordable living spaces allow employees to live on low wages. This makes labor reasonably affordable which creates more “runway for the business owners. Rental apartments are readily available and affordable.
Homes are also reasonably priced with a median price of around $256,576, which is lower than the neighboring city of Portland. Homebuyers in Salem also have access to down payment assistance. It can be in the form of a VA loan, mortgage credit certificate, homeownership program and Energy Efficient Mortgage program.
Community support through the Chamber of Commerce plays an important part in growing a business. Salem has a very supportive community comprising of business owners, customers, local leaders, and mentors/advisors. The role of this community cannot be underestimated. It motivates new entrepreneurs to begin and press on in the face of adversity.
High Quality of life
You want to launch your start-up in a city where you can have a good quality of life. In addition to affordable living and good schools, TripAdvisor points out there are plenty of factors that make Salem ideal for living and operating a business. These include a rich history carried in its landmarks and museums, beautiful gardens and the fact that it’s the second-largest city in Oregon.
Education translates to achievement. Highly educated people can achieve more in the labor market. The percentage of people with a bachelor’s degree or higher in Salem is above 28%. This is a combination of graduates from the city’s several higher education institutions and highly educated employees from neighboring states seeking opportunities in the growing technology-focused, creative, and manufacturing companies.
This highly skilled talented labor pool makes the chances of finding qualified employees for your business very high.
Business Quick-Start Checklist
Starting a business in Salem is easy. In addition to a license and permit, you will need to name your business, choose a registered agent, get an Employer Identification Number (EIN), and file formation documents. The easiest business structure you can form is a Limited Liability Company (LLC). It involves less paperwork and has several advantages including flexibility and limited liability. A formation service can help you make quick work of this task.
In addition to a formation service, consider other online tools that can help you with your launch. You can use builders like Wix or Squarespace to build a new website. And Adobe’s free logo maker online offers a simple and elegant method for creating a stunning, well-designed logo that perfectly fits your business.
Thriving start-up community
From innovative apparel stores to tech companies, Salem has in recent years become a breeding ground for start-ups. The City of Salem explains that this growth can be attributed in part to the resources and incentives offered to budding entrepreneurs by the city. The resources include training and development programs aimed at encouraging new businesses to set up their operations.
Lower Operating Costs
Compared to the neighboring cities of Portland, San Francisco, and Seattle, the costs of starting a business in Salem are significantly lower. The price of office space and labor are also low. The state’s lower than average energy and healthcare costs also contribute to lowering the overhead expenses.
The low costs of operating a business in Salem allow you to re-invest more profit back into your business.
If you’re looking to relocate to Salem, connect with an expert agent through The Sadle Home Selling Team. (503) 828-9551.