Montana can be a great place to start a business, in fact it has the highest startup rate per capita in the country. It is a business friendly state with no sales taxes and low rates for business taxes so you can find plenty of entrepreneurs here running their own small businesses. While the good far outweighs the bad when it comes to opening a business her, Montana is far from perfect. Let’s look at doing business in Montana: the good and the bad.
There are a lot of good perks to setting up a business in Montana. If you love wide open spaces with incredible scenery along with all the hiking and fishing you can handle then Montana is the place for you. Not only that Montana has affordable housing and commercial space, making far easier to compete with urban areas that cost significantly more.
Having an affordable cost of living means that wages are also affordable for the average small business owner. If you are running any kind of retail business then you also don’t have to worry about the burden of collecting or paying sales taxes. There aren’t a lot of regulatory hoops that you will have to jump through so getting your business set up is easier than you think.
Montana has a population of less than a million people and they are far away from major markets so supply chain can be a problem. You will pay more in shipping for supplies that you need for business. If you have equipment that needs servicing, then chances are good there won’t be someone local to do the repairs and you will have to wait for a service tech to fly in. Business travel can be expensive and you’re at least 2 flights away from almost anywhere. Montana also has fewer college graduates than some other states making skilled labor a bigger challenge.
The Final Verdict
Overall the good outweighs any of the drawbacks of setting up a business in Montana. Most of the obstacles can be easily overcome and while the cost of travel and transportation may be higher it is offset by lower real estate prices, labor and taxes.
The sheer beauty of Montana and the low cost of land makes it one of the best places in the country to have a thriving tourism or adventure type of business. Overall you won’t regret your decision to do business in Montana.