The Garden State is the eighth largest economy in the US. It’s also one of the most densely populated and diverse areas in the country. It has a strong transportation system, that facilitates the moving of people and goods around the world. Moreover, it boasts itself with some of the most qualified and skilled workforces countrywide. These are but a few of the big-picture facts, that may inspire you to move to New Jersey and start your own business. To support the revival of Main Street areas of small cities, various business strategies are implemented. If you have a good idea, moving to one of them is certainly one way of bringing it to fruition. So, what are some of the best NJ places for entrepreneurs? Stay with us, and find out what’s the pick of your pro movers NJ, based on their intimate knowledge of the region.
Top NJ places for entrepreneurs – Business environment overview
Every aspiring entrepreneur must have a good idea and an effective business plan. Besides, a thorough understanding of the environmental factors is a must. Failure to evaluate these is deemed to create many issues, regardless of how brilliant the idea or how detailed the business plan is. With its favorable business climate, NJ attracts many progressive entrepreneurs to relocate from elsewhere. But before we proceed with listing the top NJ places to start a business, let’s draw a quick picture of its general business setting, that your commercial movers have observed. Here’s a brief mention of few prominent business facts, that apply to the state, and may help you decide to pack up your office, or household:
- NJ is considered the world’s Diner Capital, as it hosts the most diners than any other region in the world.
- Currently, the largest employer by many people is RWJBarnabas Health. NJ accommodates 17 Fortune 500 companies on its modest in size territory.
- The only state that has all its counties ranked as metropolitan areas. As more than 90% of residents live in urban areas, NJ has the highest urban population in the US.
- Recently, smaller cities in the state are trending as top NJ places for entrepreneurs. Even in the early stages, startups are encouraged and can get support from venture capital investors.
- Tech and life sciences startups can enjoy many incentives, such as apply for free rent support and obtain refundable tax credits through angel investor programs.
- The Garden State has the thickest concentration of railroads and highways in the US. It also has the densest concentration of shopping malls in the world.
With this in mind, let’s showcase 7 of the best NJ places for startups, and see why is it so.
1. Paterson, Passaic County
The seat of Passaic county is also the 3rd most populous city in the state. So, why is it on our movers’ list of top NJ places for startups? Some portions of the ‘Silk City’ are part of the Urban Enterprise Zone, set up in 1994 and expiring in 2025. This means that if you launch a business in Paterson, you’ll be able to enjoy certain tax and regulatory relief. As your Passaic county movers would confirm, moving to Paterson for the purposes of opening a business is a thing. And the fact that they’re more than 2000 companies within the city will validate this claim. In the vibrant small-business scene of Paterson, the top 3 business types are supermarkets, restaurants, and offices of physicians. The history of the city offers great commercial opportunities, too.
2. Parsippany, Morris County
Next on our list of best NJ places to start a new venture is the township of Parsippany. Like many other small cities in the state, here as well you’ll find numerous incentives to set up your small business. The most populous municipality in Morris County gets constant recognition as one of the best places to live in the US. Withal, moving to Parsippany is a good choice, if you’re looking for a good work-family balance. The residents here are organized in a friendly and caring community, which surely renders the place a positive atmosphere. Our expert team of movers Parsippany NJ will help you relocate your home or office here with ease. There are about 1000 individual businesses in Parsippany, and the top 3 categories are Computer System Design, Programming Services, and Law Offices.
3. East Hanover, Morris County – often mentioned as one of the best NJ places for entrepreneurs
Albeit is one of the smallest communities in NJ, East Hanover has plenty to offer. The residents enjoy a safe and friendly environment, as well as beautiful scenery. The township hosts about 1500 businesses, among which are cookie manufacturer Nabisco and big pharma Novartis. All of them report great annual revenues, which attests that East Hanover is among the prime NJ places for business inception.
4. Secaucus, Hudson County
In case you want to start or even level up your retail business, look no further than the town of Secaucus. Its population is noting steady growth in recent years, and many young professionals move here. Howbeit, to strike gold it’s important to choose the right type of business for the market you indeed to sell on. Secaucus is a literal mecca for outlet and retail shoppers. There are several large retail areas scattered throughout the town, as well as many outlet shops and factory retail outlets. While Paterson for instance looks promising for new ventures distributing or selling groceries, make no mistake that Secaucus is among the prime NJ places to launch a business in retail.
5. Ridgewood, Bergen County
This small village and a bedroom community of NYC is in fact one of the most auspicious NJ places to start a business. Restaurants, diners, and grocery store startups will easily work their way up in this commuter town, which’s one of NJ’s highest-income communities too.
6. Morristown, Morris County
The town is a seat of Morris County and is referred to as ‘the military capital of the American Revolution’. Thus, it’s one of the best NJ places for startups, such as a tour agency, for example. The local economy is diverse, and Morristown is a seat of a few big companies, including Honeywell. Morristown Medical Center is the largest employer in town, with 5500 employees.
7. Eatontown, Monmouth County
Wellness, fitness, and health are a thing in the borough of Eatontown. Celebrity chef Bobby Flay has successfully run a restaurant here until Eatontown’s Monmouth Mall was closed for reconstruction. With 12500 residents, the town is home to 1600 businesses, all of which report excellent annual revenues.
Conclusion about the top NJ places for entrepreneurs
In conclusion, this was our list of NJ places for starting a business, which we believe offer optimal conditions. No doubt the Garden State is quite prolific in this regard. So, if you plan to start a business, NJ is sure to welcome you. Our final thought would be, think big in terms of your business, but think small in regards to the location. There are many small NJ places for entrepreneurs to find excellent prospects and enjoy the supportive business atmosphere. And whichever you choose, we are always at your disposal, to make your relocation a pleasant experience. Good luck.