Raleigh Downtown

Why Raleigh, NC Is a Great Place to Start a Business

The following is a guest post by Brittany Fisher of Financiallywell.info

If you’re looking for the right place to start a new business, Raleigh is an excellent option. The capital of North Carolina has grown exponentially in the past 20 years, almost doubling in size as it attracts new residents. VR Business Brokers of the Triangle shares a few reasons a move to Raleigh is worth considering.

It’s Affordable

Moving to North Carolina is a great way to save money. Raleigh’s housing costs are a little above the national median and the availability of housing is generally high. Apartments are frequently available and relatively affordable, with a two-bedroom costing an average of $1,397 monthly. If you buy, expect a median price of under $380K. Additionally, healthcare costs are considerably lower than national averages, which can save you money on personal care, as well as employee benefits. 

A Great Business Community

Raleigh and Wake County are very business-friendly, which is why roughly 2,500 startups are currently operating in or near Raleigh. The city has long been a haven for technological innovation, which is one reason why companies like IBM and Cisco have established a large presence here. If you’re trying to start a new business, you’ll find a friendly community and low business taxes, making for a welcoming market to get your business up and running, including the following:

  • N.C. Entrepreneurship Clinic
  • HQ Raleigh Community
  • e51 Networking
  • Raleigh Chamber of Commerce

Quality of Life

If you’re looking for a perfect blend of culture, action, food, and southern hospitality, Raleigh has it covered. The city is home to the NHL’s Carolina Hurricanes and you’ll also enjoy the best in college sports by following the N.C. State Wolfpack, members of the Atlantic Coast Conference. As the state capital, Raleigh also offers plenty of cultural activities, including the North Carolina Museum of History, the North Carolina Opera, and the Contemporary Art Museum of Raleigh.

You’ll also find great options for foodies, as Raleigh has been named one of the best 50 food cities in the U.S. by Zagat. Chefs like Ashley Christensen, Steven Devereaux Greene, and Scott Crawford have taken Raleigh beyond Southern staples and brought food from all walks of life here!

Activity options include:

  • PNC Arena
  • Carl Schenck Memorial Forest
  • Ann and Jim Goodnight Museum Park
  • North Carolina Museum of Art

Education

Here’s a great reason to start a business in Raleigh: access to some of the brightest local talent after graduation. Raleigh is home to North Carolina State University, and in nearby Durham and Chapel Hill, you’ll find the other two universities of the Research Triangle: Duke University and the University of North Carolina’s flagship campus. Colleges include:

  • Shaw University
  • Meredith College
  • N.C. State University
  • Duke University
  • North Carolina Central University
  • University of North Carolina-Chapel Hill
  • William Peace University
  • Skema Business School
  • Wake Technical Community College

Resources

Getting a business license isn’t required in North Carolina, but you do need to ensure that you’re complying with local and city regulations. Contacting the North Carolina Department of Commerce can help with compliance, and you’ll need to reach out to the Wake County Register of Deeds to register your business name. This checklist can make sure you’re ready to go with your business!

Starting in the Triangle

If you’re looking to attract top talent at a reasonable rate, Raleigh offers a fantastic mix of opportunity and quality of life for you and your team. It’s a great time to make a move! Looking to buy a business in Raleigh? Schedule a consultation with VR Business Brokers to get started!