Choose a large city in one make sure that you are comparing

Reference no: EM133632262

Business Regulations

As you think about setting up a business, think about what it will take to join the market economy. While the United States has fewer regulations than many countries, there are still rules and laws that govern businesses. For this activity, you will compare the regulations required to start a business in three different states.

Some types of business will have very little regulation, while others will require licenses, regular inspections, etc. Each state also has a slightly different process for registering a business, not to mention the tax rate that businesses will pay. You can find information about the cost of starting a business in each state on the Small Business Association website: www.sba.gov.

You should also consider costs like rent. Choose a similar location in all three states, so if you choose a large city in one make sure that you are comparing rent in a large city in the other state, for instance. You should also include the price of gas, which is a common business expense.

City and state of each (Miami, FL, Los Angeles, CA, NYC, NY)
License or fees to start business
Sales tax rate
Minimum wage
Business rent (choose the same size space to compare in all three markets)
Cost of any necessary inspections, permits, special licenses, etc.
Average cost of gasoline per gallon
Cost of one item required for your business

Reference no: EM133632262

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