Connect with us

AFFILIATE MARKETING

Best Nighttime Gummies | GreenState

Published

on

An assortment of edibles products in space

Hearst Newspapers participates in various affiliate marketing programs, which means we may earn a commission when you purchase products featured in this content or purchase from vendors featured here. Our professional curators independently research and recommend products and services, with no newsroom involvement. Merchants can pay for a sponsored listing and may choose to rewrite their summary. When that happens, we label the listing as “Sponsored” and highlight it in grey to differentiate the merchant-provided content from our writing.

If you have trouble sleeping at night, then some of the compounds contained in both hemp and cannabis may be able to help you out. In case you didn’t know, both THC and CBD, as well as a variety of other cannabinoids, have the potential to help you get a better night’s sleep.

With that being said, there are literally hundreds of different nighttime or sleep gummies out there. This means that choosing the right one for your needs can be fairly difficult. There are so many options that it can make your head spin. However, this is exactly what we are here to help you with today.

We have put together a list of the top six best nighttime gummies that the market has to offer. However, before we talk about them, we want to cover the basics of cannabinoids and sleep. Let’s find out exactly how your favorite strain might be able to help you get that good night’s sleep that you’ve been (somewhat) dreaming of. 

Key Takeaways

  •       THC, CBD, CBN, and CBD, in certain doses, can all help you sleep better at night.
  •       Nighttime gummies may also contain other sleep aids like melatonin, L-theanine, GABA, and more.
  •       Always look at the brand, product reviews, cannabinoids, potency, and third-party testing when choosing such edibles.
  •       Between 20 and 50 mg of CBD should be enough to help promote good sleep.

A Quick Look at the Best Nighttime Gummies

Here’s a quick glance at the top six best nighttime gummies for sleep.

  1.     Otter Space Lunar Sleep Gummies: Best Nighttime Gummies – Editor’s Choice
  2.     FAB CBD Sleep Gummies: Best Nighttime Gummies Formula
  3.     Boston Hemp Nighttime CBD Gummies: Best Nighttime Gummies with Melatonin
  4.     Batch CBN + CBD Nighttime Gummies: Best Nighttime Gummies with L-Theanine
  5.     Charleston Hemp Collective Night Crawler Nighttime Gummies: Best Nighttime Gummies with CBD, CBN, CBG
  6.     Chill Frog ZZZs Gummies: Best Nighttime CBD Gummies

Potential Benefits of Nighttime Gummies for Sleep

Nighttime gummies typically contain THC, CBD, CBG, CBN, and other cannabinoids. They may also contain other components or ingredients that can help you get a good night’s sleep, such as L-theanine, melatonin, and more.

Depending on the number of these ingredients used, nighttime gummies may have some (or all) of the benefits mentioned below.

  • These nighttime gummies may be able to help decrease anxious thoughts, stress, and anxiety. If you are in a better and happier mental state, it’s much easier to fall asleep.
  • Nighttime gummies may also contain ingredients that act as sedatives. In other words, they contain ingredients, such as THC and melatonin, that actually make you feel tired and sleepy. 
  • Nighttime gummies may also contain ingredients that help to relieve pain and inflammation, therefore making it easier to sleep.
  • THC is also known to help decrease nausea, so if you’re feeling nauseous, some nighttime gummies could help you on this front as well.

Pros and Cons of Nighttime Gummies

Let’s take a quick look at all of the potential advantages and disadvantages that come with using such nighttime gummies.

Pros

  •       Nighttime gummies may certainly help provide you with a good night’s sleep and, depending on the ingredients, could also have other benefits on the side. 
  •       Dosing is simple and convenient.
  •       With gummies, as opposed to vaping or smoking, there is no risk to your respiratory system.
  •       When you use edibles, as opposed to smoking or vaping, a lot less active cannabinoids are wasted. Therefore, you tend to get the best bang for your buck. When cannabinoids are ingested, their effects are more pronounced since they’re processed in the liver instead of the lungs, making them much more cost-effective.
  •       Some of these edibles can actually double as some fairly tasty and enjoyable snacks.

Cons

  •       Eating edibles for sleep can be a double-edged sword. Yes, they will likely put you to sleep, but they might also make you sleep too long and make you feel groggy when you wake up. Because THC and other cannabinoids last for so long when ingested, you might still feel the effects when you wake up.
  •       Some edibles may produce gastrointestinal side effects, or in other words, an upset stomach.
  •       The other slight downside here is that cannabinoids take a long time to take effect. It may very well take up to two hours until you feel the effects of nighttime gummies.

How do Nighttime Gummies Help You Sleep?

We already covered this above, but let’s just provide you with a quick recap of exactly how nighttime gummies may help you sleep.

  •       The ingredients contained in these gummies may act as sedatives that actually make you feel tired and sleepy.
  •       Nighttime gummies often contain ingredients that help to potentially relieve pain and inflammation, therefore making you feel much more comfortable.
  •       The ingredients contained in nighttime gummies may also be able to help reduce anxious thoughts, depression, and nervousness. This, therefore, could help put you in a better mental state and makes you better able to sleep.

What is Typically in Nighttime Gummies?

There are a variety of ingredients that might be present in nighttime gummies, so let’s take a quick look at the most common ones.

THC

A common ingredient in sleep gummies is THC. This could be Delta-9, Delta-8, or Delta-10 THC. That said, Delta-9 THC is the best when it comes to sedation. That said, there are legal issues with Delta-9 THC. The 2018 Farm Bill has legalized Delta-9 THC, but it is only considered legal when it makes up 0.3% of the product’s dry weight. Either way, THC typically acts as a sedative, so there’s a good chance your nighttime gummies will contain a little bit of it.

CBD

CBD is known for having the potential to relieve pain and inflammation, for reducing stress, and for acting as a new regulator. CBD is, therefore, often used in sleep gummies.

CBG

CBG is a cannabinoid found in cannabis and hemp plants. CBG has a variety of potential benefits, with one being a sleep aid. It is non-psychoactive in nature, so it won’t make you high, but it can make you feel calm and relaxed.

CBN

We then have CBN, another common component of nighttime gummies. CBN is mildly psychoactive, but you probably won’t feel it unless you ingest large amounts. It is something that may act as a sedative and help calm you down.

Melatonin

Many of these products will also contain melatonin, a hormone produced in the brain produced when it gets dark outside, therefore signaling to you that it is time to sleep. When you take melatonin, it signals to your brain that it’s time to go to bed.

L-Theanine

This is an amino acid that can be found in mushrooms and in various teas. This amino acid helps to promote relaxation by potentially reducing anxiety and stress levels.

5-HTP

This is a chemical found in the human body, which is believed to help increase levels of serotonin. Higher levels of serotonin are associated with lower levels of depression and anxiety. It’s much easier to sleep if you’re not feeling anxious.

Ashwagandha

This is actually an evergreen shrub that can be found in Africa and Asia. One of the main benefits it has is its potential to help reduce stress and calm down your mind.

GABA

GABA, or gamma-aminobutyric acid, is a neurotransmitter that helps to send and deliver messages in your brain. It helps to block various signals in your central nervous system, which in relation to sleep, helps produce a calming effect on your mind.

Passion Flower

This is a flower, or technically a climbing vine, native to South America, Central America, and the southeastern United States. This plant is well known for being an effective treatment for sleep and anxiety issues.

CBN vs CBD vs CBG

Let’s just take a quick look at the main differences between CBN, CBD, and CBG. First, CBD is by far the most common of these three cannabinoids, and it occurs in the highest quantities out of all three.

First, CBD is minimally psychoactive, and it is known for acting as a calming agent, it helps regulate mood, and can help relieve pain. 

We then have CBG, which is not nearly as common as CBD and is a bit more expensive. It is well known for having the potential to treat depression, and anxiety, and to help relax your muscles. 

We then have CBN, the only one of the three that is mildly psychoactive. It may produce a very mild high, and it acts as a sedative. When all three of these are combined together, what you get is a potent nighttime gummy that will definitely help you get a good night’s sleep.

Best Nighttime Gummies

Now that we’ve covered all of the basics, let’s take a closer look at the top six best nighttime gummies for sleep.

1. Otter Space Lunar Sleep Gummies: Best Nighttime Gummies – Editor’s Choice

These Otter Space Lunar Sleep gummies come complete with thirty pieces per container, with each piece having both 25 milligrams of CBD and 15 milligrams of CBN. This combination of cannabinoids should absolutely help you get a good night’s sleep, and help relax you overall.

Furthermore, this product has been third-party tested to ensure that it falls within the limits as set out by the 2018 Farm Bill. It is also made with extremely high-quality ingredients, including naturally derived hemp grown in the USA.

All the ingredients here are natural, and these gummies also don’t contain any pesticides. Furthermore, this product is also gluten-free, non-GMO, and vegan-friendly. On a side note, people do seem to enjoy the Raspberry flavor.

2. FAB CBD Sleep Gummies: Best Nighttime Gummies Formula

 

Sleep Gummies - 12.5mg CBD per serving - Single

Photo Courtesy of Fab CBD

These sleep gummies from FAB CBD come with a wide variety of ingredients that will help you sleep at night. This includes 750 milligrams of CBD, spread out across 60 pieces, for 12.5 milligrams of CBD per piece. 

Besides the broad-spectrum CBD, these gummies also contain L-Theanine, 5-HTP, Melatonin, Ashwagandha, and GABA. All of these ingredients come together to help promote a good night’s sleep.

These gummies are also free of gluten, fat, and dairy. They also don’t contain any sweeteners, artificial colors, or artificial flavors. Furthermore, this product has been third-party tested to ensure that it falls within that legal limits and it does not contain any harmful ingredients. We do like how the hemp used here is organically grown and farmed in Colorado.

3. Boston Hemp Nighttime CBD Gummies: Best Nighttime Gummies with Melatonin

The Boston Hemp CBD Gummies feature 25 mg of CBD per gummy, with 60 gummies per pack, for a total of 1500 mg of CBD per package. On a side note, these gummies also contain a very small amount of melatonin. CBD and melatonin act together to help you get a good night’s sleep.

These gummies have a very enjoyable grape flavor. Furthermore, this product has been third-party tested to ensure it falls within all legal limits and is completely safe for consumption. We do also appreciate how this product is made with extremely high-quality naturally-derived cannabinoids. 

4. Batch CBN + CBD Nighttime Gummies: Best Nighttime Gummies with L-Theanine

What you get here is a combination of ingredients that should certainly help put you to sleep. First, these gummies come complete with 25 milligrams of passion flower extract and 50 milligrams of L-theanine per gummy.

Each gummy also comes complete with 15 milligrams of CBN and 25 milligrams of full-spectrum CBD oil. Keep in mind that each comes complete with 30 pieces.

Furthermore, this product should not get you high as it does not contain any psychoactive compounds. The hemp used here is 100% organic hemp grown in Wisconsin, plus it is non-GMO, and third-party tested. This product falls within all legal limits as set out by the 2018 farm bill.

5. Charleston Hemp Collective Night Crawler Nighttime Gummies: Best Nighttime Gummies with CBD, CBN, CBG

If you are looking for a combination of cannabinoids to help put you to sleep, then these gummies are a good option to consider. Here, you get either 10 or 30 gummies per package, depending on your product of choice.

Each gummy comes complete with 10 milligrams of CBD, 5 milligrams of CBN, and 5 milligrams of CBG. Something we do appreciate about these gummies is that they are environmentally-friendly and do not contain any animal products of any kind.

Yes, this product has also been third-party tested to ensure that it falls within legal limits in regard to Delta-9 THC. We do also appreciate how all of the ingredients used here are completely natural.

6. Chill Frog ZZZs Gummies: Best Nighttime CBD Gummies

The Chill Frog Gummies come up with 30 gummies per package, with each gummy containing 25 milligrams of CBD, as well as a healthy amount of melatonin. An important thing to note with this gummy is that it’s the only one on our list that contains trace amounts of THC as well. If CBD alone doesn’t have enough of a kick for someone like you, the added THC should do the trick.

These ingredients together should definitely help you get a good night’s sleep. These gummies have, of course, been third-party tested to ensure that they are both safe for consumption and legal. They come in a rather enjoyable citrus flavor.

How We Made Our Top Choices for Best Nighttime Gummies

Just so you know that the products we recommend are high-quality, let’s take a look at the factors that we consider when choosing the top product to recommend.

Brand Reputation

We always pay attention to the brand itself. We like choosing brand names that are transparent, open, reputable and have a proven track record. We want to know who is in charge of the brand, where it is located, that it follows all rules and regulations surrounding hemp and cannabis, and that people are generally happy with said brand.

Product Reviews

The next thing we always take into account is product reviews of individual products. Yes, we want to know that the brand name itself is reputable, but we also want to know that the individual products are just as good. We like choosing products with hundreds, if not thousands, of positive reviews.

The Cannabinoids

We are talking about nighttime gummies for sleep, so cannabinoid content and quantities are very important. Ideally, we look for cannabinoids such as THC, CBD, CBG, and CBN, and preferably a combination of all of the above.

Other Sleep Aids

We did also choose our products based on the other ingredients, mainly things like melatonin and other sleep aids that may be able to help increase the efficacy of the gummies in question.

Potency

The potency or strength of the gummies in question is important too. Some may only contain 5 or 10 milligrams of a certain cannabinoid, and others may contain hundreds of milligrams. The stronger the product in question, the better it will help you sleep.

Third-Party Testing

We also pay attention to third-party testing. This means that every product should be tested by an independent laboratory. The results must state that the product does not contain any heavy metals, pesticides, or other toxic components. The results must also state that the product in question falls within the legal limits of Delta-9 THC as set out by the 2018 Farm Bill.

Cost & Shipping

Although it’s not the first thing we look out for, we do choose products that aren’t going to cost you a fortune. This is especially true if multiple retailers are selling virtually the same product for vastly different prices.

Nighttime Gummies for Sleep: Frequently Asked Questions

Before we call it a day, let’s just answer your most pressing questions about nighttime gummies for sleep.

How Many Nighttime Gummies for Sleep?

How many gummies is not the question here, but rather how much of the included cannabinoids. If we are talking about something like CBD, for a beginner, somewhere between 20 and 50, milligrams should do just fine. but always start low and go slow.

How Strong are Nighttime Gummies?

There is no clear answer to this question, as different products contain different cannabinoids and different amounts of those cannabinoids. Every person also reacts to these products in a different way, so as mentioned above, be sure to start with a low dose and work your way up if needed.

Are Nighttime Gummies Legal?

As long as the products in question fall within the limits and regulations set out by the 2018 Farm Bill, they are totally legal. All of the products mentioned on our list fall within the legal limits of Delta-9 THC.

Are Nighttime Gummies Safe?

Nighttime Gummies, particularly those made with cannabinoids and submitted to third-party testing, should be safe. The various cannabinoids that we recommend are in no way proven to be toxic, life-threatening, or anything of the sort. Yes, they may produce some mild side effects, such as gastrointestinal upset, headaches, red eyes, dry mouth, and so on and so forth, but nothing overly serious.

Final Thoughts

Now that you know what the top six best nighttime gummies for sleep are, you can make an informed decision about them. Always take into account all of the main considerations that we talked about above, and you should have no problems choosing the ones that work best for you.

Hearst Newspapers participates in various affiliate marketing programs, which means we may earn a commission when you click links in this content. Our professional curators independently research and recommend products and services, with no newsroom involvement. Merchants can pay for a sponsored listing and may choose to rewrite their summary. When that happens, we label the listing as “Sponsored” and highlight it in grey to differentiate the merchant-provided content from our writing.



Source link

Keep an eye on what we are doing
Be the first to get latest updates and exclusive content straight to your email inbox.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address

AFFILIATE MARKETING

The 7-Step ChatGPT Formula for Peak Productivity and Profit

Published

on

The 7-Step ChatGPT Formula for Peak Productivity and Profit

Tackle AI’s toughest questions with Ben Angel, mapping the business terrain for 20 years. Master the AI landscape and reach peak productivity and profits with insights from his latest work, “The Wolf is at The Door — How to Survive and Thrive in an AI-Driven World.” Click here to download your ‘Free AI Success Kit‘ and get your free chapter from his latest book today.

Source link

Keep an eye on what we are doing
Be the first to get latest updates and exclusive content straight to your email inbox.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address
Continue Reading

AFFILIATE MARKETING

How I Hit $100 Million in Annual Revenue By Being More Transparent

Published

on

How I Hit $100 Million in Annual Revenue By Being More Transparent

Opinions expressed by Entrepreneur contributors are their own.

It’s a common nightmare — you’re walking through a busy hallway or giving a presentation only to look down and find yourself completely naked.

We’re inherently fearful of revealing too much about ourselves, and as an entrepreneur, this likely extends to your business as well.

But based on growing my own business from nothing to over $100 million in annual revenue, I can tell you less is not more when it comes to business transparency — more is more. Being open builds trust, and trust fosters customers and relationships in droves. The only exception is not giving away your trade secrets to competitors.

Here are three effective ways to build trust with clients and prospects by being more transparent (without leaving you feeling nightmarishly over-exposed).

Related: How Transparency In Business Leads to Customer Growth and Loyalty

1. Increase sales by 18% or more by increasing your Google reviews

Nearly everyone reads reviews before purchasing. One study found a whopping 93% of people read reviews before making a purchase, and on average, reviews produce an 18% uplift in sales. In today’s online landscape, people put almost as much weight on a Google review as they do on a personal recommendation.

The best way to increase your reviews is to simply ask! According to research, 70% of consumers will leave a review for a business when asked.

About four years ago, we had 486 reviews after servicing more than 90,000 clients. We started using Podium to send out texts or emails — based on customer preference — asking to leave a review on Google, the Better Business Bureau and Trustpilot.

By May 2024, we’d accumulated 2,312 five-star reviews, an increase of 375%. Keep in mind that our account managers have been very diligent about sending review requests to clients and only ask the clients most likely to give positive responses.

Another good way to increase reviews is to automate postcards at the close of an order thanking someone for their business and encouraging them to leave a review. A physical mailer is likely more effective than an email — one study that surveyed 1,200 consumers found that 76% trusted direct mail the most as opposed to online methods.

You might be wondering, “What about the negative reviews?” You’re always going to have a handful of bad reviews, but people look at the ratio of good vs. bad. If you have far more five-star reviews than one-star reviews, they’ll disregard the negative ones and assume it’s not the norm.

2. Improve lead generation by 105% by sharing your clients’ success stories

Sharing real marketing results has always been a priority for my business, PostcardMania. We currently have 944 marketing case studies and 139 video case studies that document real people sharing campaign specifics that led to more leads, revenue and new customers for their businesses.

We share these case studies far and wide with prospects via email and postcards in the mail to increase trust. But more recently, we began incorporating these stories into video social media ads. During a recent earnings call by Meta, CEO Mark Zuckerberg said 50% of all people’s time on Facebook and Instagram is spent watching videos, so naturally, we went that direction to gain more eyes on our services.

We put our 139 video case studies — real business owners talking about their successful campaigns — to work for us on Facebook and Instagram.

As a result, our social media leads doubled. In 2022, our average number of social media leads per week was 174, and then in 2023, the average lead count increased to 356 a week! That’s a 105% increase.

Of course, our use of social media in this case is part of a larger multi-channel marketing strategy that ties direct mail and digital ads together, so I suggest a similar approach if you want to see the same results (we’ve actually packaged our successful approach into a single affordable marketing bundle called Everywhere Small Business due to high demand from our clients to replicate this method). Campaigns that uniquely combine print and digital advertising using hyper-targeted mailing lists and lookalike audiences have been proven to work time and time again, so I highly recommend them.

It doesn’t matter what industry you are in, your customers’ success stories can be compiled and incorporated into your marketing plan to grow your customer base.

Related: How Problem-Solving Case Studies Help You Market Your Business

3. Convert prospects faster by dropping the velvet rope and inviting them in

Being transparent online will help build a positive image of your brand and bring in more customers — but you can also take this one step further and let prospects visit your business and interact with your products or services in person. One report revealed that 79% of customers want brands to go above and beyond what they are required to reveal and give more information, with two-thirds of them saying they would switch brands for more in-depth data.

At PostcardMania, we welcome clients to visit us and take a tour of our in-house printing facility. We also have a marketing conference twice a year where clients can meet their marketing consultants face-to-face and learn more about our business behind the scenes. These clients often end up being some of our best and longest-lasting relationships! You can do the same by hosting an event and opening your doors to the public. It doesn’t have to be a conference — you can start small with something as simple as a night of snacks and entertainment.

Related: 3 Ways to Personalize Your Marketing for Higher Engagement

Free samples are also a great way to show customers exactly what they are getting before they make a commitment. This doesn’t always apply to every business, but you can try to find a way to allow prospects to interact with your product or service on a deeper, more physical level.

Incorporate any of these tactics, and you’ll show prospects the most authentic side of you and your business. Believe me when I say trading in your fears about being super transparent for bold authenticity will reap real rewards in long-term growth and customer loyalty.

Source link

Keep an eye on what we are doing
Be the first to get latest updates and exclusive content straight to your email inbox.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address
Continue Reading

AFFILIATE MARKETING

The 10 Best and Worst States to Start a Small Business

Published

on

The 10 Best and Worst States to Start a Small Business

There are many important things to consider when launching your own business or side hustle, and location is at the top of the list. Local and state laws can mean different taxes, zoning regulations and licensing requirements, so it pays to be strategic about your choice of state, city and even neighborhood, according to the U.S. Small Business Administration.

Related: 5 Things Not to Do When You’re Running a Small Business

After all, some 20% of new businesses fail within the first two years of being open, according to the U.S. Bureau of Labor Statistics (BLS). The BLS also found that 45% of businesses fail within the first five years. That number jumps to 65% after 10 years.

Capital on Tap, a company that offers a credit card and spending management platform for small business owners, analyzed BLS data to determine the percentage of startups that are still active after three years — and broke down the U.S. states with the highest and lowest chance of survival in three- and five-year time frames.

“There are over 30 million small businesses in the U.S., making up an enormous percentage of the economy, and as this number continues to grow, so will innovation and commercial drive,” says Damian Brychcy, chief executive officer at Capital on Tap. “This research should serve as a positive sign to entrepreneurs in the top ten states who are thinking about starting a business.”

Image Credit: John Coletti | Getty Images. Boston, Massachusetts.

Qualities of business-friendly states

Before diving into the data, it’s important to consider what factors make a state attractive for new business owners. And it’s about more than just starting a business. The following factors can help keep small companies afloat and lead to ongoing success:

Taxes

Perhaps the most important factor of all, a business-friendly tax environment can keep costs down and put more money in your pockets. There are payroll, employment, income and corporate taxes to worry about, all of which can affect decisions around hiring and expansion. Some states also offer tax incentives for small businesses, which can remove expensive hurdles. Reviewing a self-employed tax schedule in your area can help.

Workforce

If you want to run a healthy, growing business, you’ll almost certainly be hiring employees. The best states for small businesses will have a plethora of available talent and a workforce with high levels of college education. Starting a business near a college or university can also attract interest from recent graduates. This is especially prominent in the technology industry.

Regulations

State policies regarding small businesses involve more than just taxes and deductions. Government programs can offer business owners grants and loans and incentivize investment from larger funders. Compliance is another factor. States can lower the costs of business by removing regulatory red tape, such as required government approvals or clearances.

Growth potential

You want to start your business somewhere it can thrive in both the short- and long-term. A number of factors can support this — for example, funding, investment in infrastructure and livability. A close proximity to sources of financing can help your company grow, as long as the area can support your workers and their families. States and cities with a low cost of living, good schools and solid infrastructure will not only attract talent but keep it.

U.S. states/territories with the highest rate of small business survival, per Capital on Tap 

State

1year average (%)

3year average (%)

5year average (%)

Massachusetts

81.91

64.96

54.38

Wisconsin

81.13

64.93

54.97

South Dakota

80.44

64.03

54.88

Minnesota

80.96

63.97

53.51

Iowa

80.85

63.71

53.65

North Dakota

79.55

63.63

53.98

Pennsylvania

80.69

63.51

53.18

Montana

79.60

62.79

53.03

Hawaii

79.37

62.22

52.21

North Carolina

79.85

61.91

51.25

Massachusetts

With elite universities, a thriving tech hub, a strong economy and a highly educated workforce, Massachusetts tops the list. Nearly 82% of small businesses survive their first year. Boston is also a growing hub for STEM jobs and is home to many investors and potential employees. The state also boasts a strong Economic Development Incentive Program (EDIP) that provides tax and property incentives for job creators.

Wisconsin

Not only does Wisconsin have a relatively low cost of living, but the state has one of the nation’s best public university systems (read: highly educated workforce) and a business-friendly government that offers tax credits, low-interest loans and grants to small companies. Wisconsin also runs a public-private capital initiative through the Wisconsin Economic Development Corporation (WEDC), which recently announced a $100 million investment in the state’s startups.

South Dakota

Taxes are the big selling point for starting a business in South Dakota. With no corporate income, personal income, property or business inventory taxes, the state makes running a small company affordable for owners. The state is highly affordable and has very few regulations, both of which lower overall business costs.

Minnesota

Almost 81% of small businesses survive their first year in Minnesota, a feat that can be credited to the state’s supportive business environment, educated workforce and relative affordability for a high quality of life. Minnesota also has nine small business development centers throughout the state, which offer consulting, mentoring, networking opportunities and access to capital.

Iowa

With a high quality of life and low cost of living, Iowa is an attractive place to start and expand a small company. One of the biggest factors is extremely low energy and utility costs, which is especially important for manufacturing. Iowa cities also offer property tax incentives for small businesses and some of the nation’s lowest workers’ compensation costs.

U.S. states/territories with the lowest rate of small business survival, per Capital on Tap 

State

1year average (%)

3year average (%)

5year average (%)

Washington

75.12

54.60

42.75

District of Columbia

76.04

54.73

43.73

New Mexico

76.64

56.58

45.58

Florida

77.00

56.82

44.95

Nevada

77.18

57.38

46.79

New Hampshire

76.65

57.52

46.63

Arizona

77.34

58.00

46.74

Tennessee

78.46

58.21

46.81

Arkansas

77.64

58.24

47.25

Rhode Island

76.76

58.30

47.75

Washington

Less than 43% of new businesses in Washington are still running after five years, thanks to expensive real estate, complex regulations and the nation’s highest statewide minimum wage ($16.28/hour). The state’s business and occupation tax is also calculated based on gross receipts, not overall profits, so businesses with slim margins will especially struggle.

District of Columbia

Washington, D.C., is one of the most expensive metro areas in the country, both in terms of real estate and overall cost of living. That means high salaries and high rents for offices or storefronts. The city’s business income tax and regulatory requirements are also relatively high, both of which can cut into profit margins.

New Mexico

High unemployment rates and limited access to capital make New Mexico a challenging state to open a small business. Skilled workers are lacking compared to surrounding states, and complex regulations can be a burden for business owners. More than 23% of small businesses fail within their first year.

Florida

Although Florida claims to be a thriving hub for entrepreneurs and small businesses, the data tells a different story: More than 55% of small businesses fail within five years. One of the biggest factors is the increasing frequency and severity of hurricanes, which has led to rising insurance costs. This affects both the available workforce and a company’s bottom line as premiums skyrocket.

Nevada

Almost 23% of new businesses fail within their first year in Nevada, and that’s despite no corporate or individual income taxes. Part of the challenge is local governments: regulations vary widely depending on your city of choice, with different requirements for specific licenses and fees. A heavy reliance on tourism can also backfire when travel to the state falls off, such as during the pandemic.

Source link

Keep an eye on what we are doing
Be the first to get latest updates and exclusive content straight to your email inbox.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address
Continue Reading

Trending