New Hampshire is a state that is not only small in size; its economic growth is also coming along at a small and slow pace. This is partly due to the state's small market. This is part of the reason why many business venture capitalists and investors have often skipped New Hampshire when considering the ideal location for their new startup.
If that's not enough, the state also has a higher cost of living when compared to most other states, even neighboring ones in the New England region. The cost of living cancels the high per capita income in the state.
However, there are a few reasons to maintain a positive outlook. Many of the businesses that have called New Hampshire home have found great satisfaction because of the low taxes on businesses. The state corporate tax is high (8.5%) but you won't have to pay sales and personal income taxes. This makes the state one of the lowest in terms of tax burden for businesses.
The per capita income in New Hampshire is also above-average. This means that residents and your target market have a high buying power. The competitive labor market is also something worth noting given that the unemployment rate is at 2.7%. You need to make good salary offer and benefits to potential employees to attract them to join your business. For business insurance related info please refer to our more in depth article.
At the request of our visitors we've included the below local insurance contacts for most cities in New Hampshire. While New Hampshire technically doesn't require drivers to have auto insurance, the state does hold you financially responsible for any accidents caused. The best way to protect yourself financially in the state of New Hampshire is to purchase an affordable car insurance policy. Insurance companies will provide you multiple quotes at various rates, depending on which types of coverage you wish to purchase. You should never take the first quote if you're looking for a cheap policy. The best way to find low cost coverage is to compare rates offered by various insurance carriers. For additional information on traffic laws or driving schools please navigate to your respective state using the map. And for manufactured home insurance, please refer to the respective article.
New Hampshire is located at the New England region of the United States. Its northern border is the Quebec province of Canada. In terms of land area, the state is the fifth smallest in the country, while also the 10th least populated in the U.S. Its largest and most populous city is Manchester, while Concord is its capital.
With only 18 miles of seacoast, New Hampshire's is also the shortest coastal state in the U.S. Despite its small size, this state packs plenty of outdoor attractions. The best thing is many of them are free.
Beautiful lake beaches and ocean are the biggest tourism draws of the state. Excellent for kayaking, sailing, and various fun-filled theme water parks. Many of its theme parks also feature exciting rides to the scenic mountain tops.
The state used to be a hub for shoemaking, textile, and woodwork industry. While these industries have declined over the years, the state switched its focus on high-tech industry and production of electrical equipment.
Create an LLC in Arizona - More here
© State & Local 1995-2023