Every entrepreneur should ask themselves whether they are starting their business in the right area. It could be a disaster for your company if you create a startup in the wrong place. If you are relocating to New Jersey just to start a new company, you are right where you belong! New Jersey is a place of opportunities for startups and your chance to grow really increases there. In this guide, we are going to introduce to you some of the best NJ cities for startups. There are quite a few places that offer great conditions for a new business so you will have many nice choices. In addition to this, we are also going to mention why it is important to choose a city in NJ. There are just too many nice chances for new entrepreneurs to skip mentioning them.
Main benefits of starting a business in NJ
Before we discuss certain NJ cities for startups, we should discuss why NJ is a great area to start a business by itself.
Grow NJ program
Starting a new business in a new territory and trying to choose between NJ cities for startups can be a really daunting task. In addition, your budget will probably shrink once state to state movers NJ move you to your destination. Don’t worry about it, the NJ state has a really good program aimed at helping start-up companies develop and stabilize. The main purpose of Grow NJ program is to help the state of NJ become competitive in the global race. You may wonder how the program works.
First of all, you can gain a lot from tax credits and stimulation for creating jobs. So, startups are allowed tax credits that can go from $500 per job up to $5.000 per job, annually. Secondly, you can also apply for a bonus credit that goes from a minimal $250 to a maximum of $3.000 per job, on yearly basis. No matter where in NJ you decide to start your business, this is a really great opportunity to do it and grow while doing so.
Tax Exemption Program and discounts on sales
There are other advantages you will be able to use if you relocate to NJ with Gibraltar Van Lines. There is this thing called the STX program or sometimes the Tax Exemption program. Any start-up in New Jersey can apply and try to enter the Tax Exemption program. The only condition is that it buys different kinds of machines, tools, equipment, or furniture used to make the project. This program will give a great boost to any company that is just starting a new business or a project. Obviously, it’s a pretty complicated task to design and plan out your future office. So, first things first you should put up all the equipment for the project to be accepted into this program.
Limited Liability is available in all NJ cities for startups
You can get a lot of benefits if you open a startup in New Jersey. A big benefit you receive after you register a new business is something called limited liability. That basically means limited liability protection where companies that claim it can sue the LLC without suing the investors. Another important fact about opening a startup in NJ is that if you register an S Corporation in New Jersey, you are free from paying any income tax.
One of the best NJ cities for startups is South Orange Village Township
It’s a quiet, very warm community located less than 20 miles from New York City, perfect for movers North Bergen NJ to relocate you to. So, this makes it one of the perfect NJ cities for startups. This town contains a lot of historical influences and a lot of capital to invest in. If you put yourself well on the market, you might benefit a lot. So, if you’re an architect, designer, or something in that industry, you will love it in this town. Streets are lit with working gas lamps, houses are from the Victorian era and it can all be a great asset if you want to open a coffee shop or a restaurant. However, the most important factor is that the township is fully connected to important parts around NJ and major airports and highways are less than half an hour away.
Montclair is an excellent choice among NJ cities for startups. It has a lot of young people living in it and contributing to its economy. The city is really close to New York City, just next to the First Watchung Mountain. Inside the city, there is a rapidly developing art community with a lot of art galleries and museums to show it. Montclair is one of the best NJ cities for startups if you are an artist who wants to start their own thing.
There are many different shops, bigger and smaller companies, institutions, restaurants, and a very active nightlife. You’ll have no trouble setting up a startup in this place. Another important detail that should be mentioned is that it is home to the second biggest university in the state of NJ. That’s a huge bonus if you are coming here with a family. Another reason Montclair is one of the most suitable NJ cities for startups is its effort to be one of the most efficient cities in renewable energy implementation.
Another great option is Bloomfield
Out of all NJ cities for startups on the list, it hosts the biggest number of active business communities. Its inhabitants are mostly businessmen and women who own their businesses downtown. Schools in this city are all highly rated, making it a suitable place for having a family.
Newark remains among the best NJ cities for startups
If moving companies Verona NJ relocate you to Newark, you will be making a smart decision as a young entrepreneur. Newark is known to be the most populated city in New Jersey. It is the base of air, shipping, and rail so it’s perfect for a person who wants to start a business from scratch. Many international corporations are based in Newark, now already a business hub within NJ and wider.