Open a New Business in Las Vegas
When you’re ready to go into business for yourself, choosing the location matters. This goes beyond finding a place with the right foot traffic or the perfect office for your needs. You also have to consider the actual city for your business.
Las Vegas offers a great place to start a business for many reasons. In fact, it’s such a great place for your business Zappos chose the downtown area for their office. Here are five of the top reasons you should start your business in Las Vegas.
The city has received a ton of revitalization over the past years. When Zappos moved in, CEO Tony Hsieh and CatalystCreativ committed $350 million to revitalize the downtown area. This included money assigned to real estate, small business development, tech startups, education and real estate.
The goal of the revitalization is to help create a more community-focused city with the ability to inspire and empower business owners. The city has already become an ideal spot for young entrepreneurs due to the revitalization, but there are more reasons why you should choose Las Vegas for your business.
As the owner of a startup, you will likely put in 80 to 100 hours every week. This means you’ll be up at strange hours and you may not get much sleep. Las Vegas is a 24-hour city with a 24-hour culture and mindset. It’s a round-the-clock city with many people working during every hour of every day. If you’re working on a proposal or a project into the early morning hours, you won’t be alone in Las Vegas.
The Business Community is Intentional
With so many flocking to Las Vegas to open their businesses, you won’t be alone in your endeavor. You’ll have the ability to start a business in an intentional community filled with others with similar values. Plenty of collaboration opportunities will be right in front of you with someone to bounce ideas off and others to help implement your vision.
With the intentional business community of Las Vegas, you will have resources at your fingertips you cannot get in every city. This will help to make problems seem easier to solve and provide you with the ability to grow at the pace you’re comfortable with.
It’s an Affordable City
While Las Vegas seems expensive because when you go there for vacation, it can be, it’s not so expensive for business owners. If you avoid setting up your business on the strip, you can get reasonable rates for real estate in Las Vegas. The downtown area is rather inexpensive and it’s growing with new businesses opening every month.
In addition, Las Vegas is actually a pretty affordable place to live. It’s a place you can call home and your employees can call home without breaking the bank.
In fact, Las Vegas actually stands out from cities like San Francisco and Boston because it has a much lower cost of living. The city hovers around the average for the country, which is very attractive for young professionals. The more affordable real estate and cost of living will also make it easier to convince top talent to leave Silicon Valley, New York City and other big cities to come and work for your business.
Plenty of Tax Breaks
Businesses should always be on the lookout for tax breaks. If you want to maximize your tax breaks, Las Vegas is the place for you. Not only is there no business income tax, but the state of Nevada also doesn’t have a personal income tax. You will also avoid paying a gift tax or a franchise tax.
The city is actually one of the most friendly when it comes to taxes because the state is very friendly to businesses when it comes to taxes. This will save you money right from the beginning and all the way through the years you’re in business in Las Vegas.
These five reasons should be enough to convince anybody to open their business in Las Vegas. Of course, the city also provides more than 300 days of sunshine a year, has plenty of fun attractions, offers some of the best restaurants in the world and provides all types of other great benefits for business owners and residents.
If you’re considering opening a new business, consider Las Vegas as the city for your startup.