With a cost of doing business that’s 2.1% below the national average and a lack of personal and corporate income taxes, Washington has some serious cost benefits for its businesses and residents.
Home to huge powerhouses like Microsoft, Costco, Starbucks, and Amazon, Washington is also small-business friendly. It’s ranked seventh in the Small Business & Entrepreneurship Council’s 2018 Small Business Policy Index, indicating a positive business environment.
The state’s workforce is one reason for its business success. With over 90% of residents holding high-school diplomas and over 34% holding bachelor’s degrees, Washington’s workers are educated and skilled.
Washington is called the Evergreen State for a good reason. The breathtaking natural landscapes are a major attraction, improving the quality of life for Washingtonians and bringing in tourists who boost local businesses. Tourism is the state’s fourth-largest industry and contributes $1.8 billion to public funds each year.
FranNet’s local experts know Washington and the ins and outs of opening a business there. They’re ready to help you choose a business that will thrive in the Evergreen State.