Best Cities to Start a Business in South Carolina
With a state tax burden of only 8.4% and a low cost of living, South Carolina guarantees an entrepreneur an affordable environment in which to start and maintain a business.
The tax incentives for businesses in the state are some of the most favorable in the U.S.: no state income tax, no property tax, and credits awarded to businesses that create jobs. Such factors are significant in shaping South Carolina’s business-friendly environment.
Owing to its long stretch of beautiful shoreline and picturesque beaches, coastal cities like Myrtle Beach profit from vital tourist sectors. Watersports like skiing and parasailing are big business in Myrtle Beach as the 14 million odd visitors to the city during the warm months provide a steady stream of dependable revenue. Seafood restaurants, guesthouses, and specialty boutiques also benefit from the influx of cash. Tourism-related business is a low-risk, high-reward endeavor, resulting in Myrtle Beach’s businesses-per-capita rate blooming to four times the national average.
Only cities with over 50,000 inhabitants are reported in the results. Some data had to be interpolated to the county level and extrapolated to all the cities in the county. We concentrated on the following metrics to obtain our ranking: Cost of living, Best state for business, Unemployment, Kauffman index, and Universities.
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