NEW ORLEANS — New Orleans is one of the top ten least expensive places for a company to start up in America.
HowMuch.net gathered data from SmartAsset, which studied 80 cities and calculated the average costs for starting a new company, including filing fees, office space, utilities, legal and accounting fees, and, most significantly, payroll. To make a fair comparison between cities, SmartAsset assumed a company would need a 1,000-square foot office space and have five full-time employees. HowMuch.net then calculated each of these metrics as a percentage of the overall startup cost and turned them into slices on a pie chart:
The company figured that the average cost for starting a company in New Orleans is $242,000, coming in 9th place. Louisville, Kentucky follows New Orleans closely at $243K.
On the other side of the leger, San Jose, San Francisco and Washington D.C. are the three most expensive cities for startups.
You can read the entire analysis here.
– by Alexa Harrison, associate news editor
