Want to Start Your Own Business? New Hampshire is a great place to do it!
New Hampshire is very pro-business and has many resources to help you out, and most of them are free. The small size of our state means that you can get to the right people easily and they are New Hampshire friendly! Below is a small list of the many programs NH offers, whether you are just starting out, expanding an existing business, or moving a business to NH.
NH Economy: NH Economy supports growing the economic activity of NH. The result is an extensive site loaded with everything you need to know about having a business in NH. There is also a section specifically devoted to starting a business.
State Comparison Tool: The NH Division of Economic Development site includes a very clever state comparison tool which clearly illustrates the advantages of starting a business in NH. It shows data on taxes, insurance, labor costs, energy costs, economic indicators and high tech business standings.
One statistic nicely summarizes the significance of the lower tax rate that businesses have in New Hampshire. The overall tax burden as a percentage of income is 7.6% for NH and 9.5% for MA, 10.2 % in RI, 10.3% in VT and 11.1% in CT. The lack of an income tax in NH contributes significantly to this statistic and to the money that you can put back into your business or into your wallet.
Another great resource is the NH Small Business Development Center. The NH SBDC offers no-cost, one-on-one confidential business management advising with certified business advisors, and free e-learning courses for small business owners, including Starting a Business in NH. NH SBDC is an outreach program of the UNH Peter T. Paul College of Business and Economics, and a cooperative venture with the U.S. Small Business Administration, the State of New Hampshire (Department of Business and Economic Affairs), the University of New Hampshire, and the private sector.
Devine Millimet’s Small Business Team has created the Business Launch Initiative program to assist startups and entrepreneurs with launching their businesses free of charge. To learn more about their unique offer to new business owners and to see if you qualify for their free legal services, which include a one hour consultation to help identify and form the correct legal structure, prepare entity formation documents and agreements, and provide an overview of employment contracts and address other employment law issues, visit their website. Visitors to the site can also request a copy of “An Entrepreneur’s Guide to Starting a Business in New Hampshire,” a very useful guide for startups.
There are many other sites that also provide valuable information and assistance. They all offer plenty of online information about business planning, financing, marketing, salesmanship, cash flow and leadership. Also, many offer seminars, workshops, mentoring, and counseling.
BuzGate – The Business Utility Zone
nashuaHUB – a business startup incubator in Nashua
SCORE – Service Corps Of Retired Executives