Are you thinking of finally giving in to your entrepreneurial instincts and starting a company? If so, you will want to know about the latest and most important trends surrounding startup companies. Check out some of the most important trends below.
New York State of Mind for Start-ups
Geography matters when it comes to starting a company. Some states are more amenable to new business than are others– for instance, New York and California, alone, are home to 35% of the nation’s new start-up funding applications.
Why are these two states disproportionately attracting entrepreneurs? It has to do with their legal structures. New York, often thought of as the commercial capital of the United States, is an obvious landing spot for entrepreneurial start-ups, after all. The rise in start-up applications can be attributed to New York’s Governor, Andrew Cuomo. Cuomo has issued a program called Start-up New York in which business start-ups get a 100% tax break for their first ten years of operations. As a result, there has been a large rise in the fashion, food, retail and maker market, ultimately resulting in a robust state economy.
So, while you can start a successful company in any state, keep in mind that geography can be important.
Which Industries Dominate the Startup Sector?
The United States makes up 58.9% of start-up funding applications in the world. Industries such as healthcare, entertainment, and Internet web services are making the biggest splashes this year. If your business is just starting up in one of these industries, you’ve picked the perfect time take a chance. No matter if you are in the development stage, revenue stage, idea stage, or you are ready for sales, funding is available to help you grow.
The World of Technology
Technology is playing a vital role in the development of startup companies. Nowadays, every successful startup has a strong website (or at least a Facebook profile) as they introduce their company to the public. The rise of technology has opened up a whole new world for small businesses. Any business owner trying to advertise can easily do so with the Internet. An easily accessible website and a strong social media marketing plan can get any business noticed, regardless of industry and location. Keep this in mind as you get started– you will need a tech presence from the get-go.
Where to Turn to for Start-Up Funding
There are many different options to look into when you need funding, but there is only one that will work for small businesses. Invoice factoring for start-ups is a method of alternative finance that turns your account receivables into capital that you can use for your business expenses. You will never be left with debt, but will be left with the funds to advance your brand and stand out among the competition. Factor Finders can be the cash flow solution you’ve been looking for to bring your business venture to life.