Relocating Your Internet Business?

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DSCF0151With the economy in such a bad state here in NJ and our new Governor eliminating all funding from the district where I teach, growing NanasCorner into an Internet-based business looks very tempting. Having an Internet-based business does have its advantages:  very low overhead, at least mine would – I can do it from home, no more commuting stress and expense (my small raise last year was wiped out by the increase in gas as it was for many other commuters), and I could make my own schedule – time for exercising, volunteering, etc. It also means I could move to any town in any state that I chose but I’d want to be near my children and grandchildren. But, unfortunately they don’t all agree on where they’d like to live.  After this terrible snowy winter, some have been dreaming of moving to the warm coast of California, yet others want to move  to even a colder weather climate such as upstsate New York where they can enjoy more winter activities. (I think the Olympics distorted their thinking!)

Our son, who has a successful Internet-based business, is torn between both climates. Why consider California? His sister-in-law moved out there six months ago and is loving it. Erik and his wife visited her for Thanksgiving and fell in love with southern California life.  But, then again, they like the winter activities too, so New York would provide opportunities to enjoy the winter, spend time at the shore, and be close to their friends.  Since he does have an Internet-based business, it would be very important for him to check out the cost of running a business in each state, such as the cost of business insurance in California compared to business insurance in New York, income tax rates in each state, etc.

For comparisons, I suggested he first look into each state’s business insurance policy and other regulations and compare them to New Jersey’s. He can start with sba.gov to start. The website is run by the Small Business Administration. I didn’t know this until I looked into it, there is actually Internet business insurance!  Before any of us decide if we want to move, there is a lot to research…especially if you have your own business…

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