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April 10, 2018

NOLA Top Ten Least Expensive for Startups

New Orleans is one of the top ten least expensive places for a company to start up in America.

The financial website HowMuch.net gathered the 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:

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.