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California remains an attractive destination for entrepreneurs

| Sep 18, 2020 | Uncategorized |

For decades, California has been the home or future home of some of the sharpest minds and ambitious people eager to exploit creative ideas with every intent to launch a successful business. The presence of so many successful small businesses in California proves how attractive the state is for entrepreneurs.

Historically, California has been an ideal place to start a business. In doing so, entrepreneurs face many challenges in forming their companies and getting things started.  Ultimately, success can be reached by combining knowledge, ideas, market understanding, the ability to handle risk and a dash of the right timing.

For decades, California has been the home or future home of some of the sharpest minds and ambitious people eager to exploit creative ideas with every intent to launch a successful business. The presence of so many successful small businesses in California proves how attractive the state is for entrepreneurs.

Historically, California has been an ideal place to start a business. In doing so, entrepreneurs face many challenges in forming their companies and getting things started. Ultimately, success can be reached by combining knowledge, ideas, market understanding, the ability to handle risk and a dash of the right timing.

Deep talent pool, networking chances, investor opportunities

Do not let the current global health crisis deter you from starting a business in California. History is on your side as many successful businesses launched during economic downturns.

So then why does California appeal to many entrepreneurs? Here are a few reasons:

  • A normally robust economy filled with various industries that include construction, professional services, finance, real estate, agriculture, manufacturing, retail, healthcare and technology.
  • The state with the most residents, providing plenty of business opportunities within our diverse regions.
  • A near endless talent pool of accomplished, well-educated people who have some of the same entrepreneurial thoughts as you.
  • Because many wealthy people live in the state, your business can tap into them as potential investors and capital sources.
  • And since there are more high earners in the state, this group will spend more money supporting your business than the typical consumer.
  • The networking opportunities are nearly endless with state and national conferences and trade shows that attract like-minded ambitious people.
  • And do not forget the temperate weather all year round.

But, many challenging exist. For example, the cost of doing business in the state includes having to navigate through numerous complex rules. California has some of the highest taxes in the country for both individuals and companies. Regulatory issues can seem overwhelming at times. California also has very pro-employee laws which have to be strictly followed.

Having your company in California can be financially rewarding, but you must have great counseling to deal with the many obstacles which exist. Having one law firm instead of multiple firms to assist you can be extremely advantageous. Lobb & Plewe, LLP has the necessary practice groups to move you and your company towards success.