Settle into Los Angeles: Blending Business and Life
When you start a business or relocate an existing one, more comes into play than what your business is selling. Your support not only comes from your customer base but also from business resources in your community. You also have to consider what your employees want and need, and whether enough talent exists for you to gain new recruits. Since many smaller communities can’t typically match the amenities of large, urban areas, you have to look closely at whether it’s a place where people can live, work, and play—such as with the offerings of Los Angeles.
Let Golden AQS be your guide to the Los Angeles area.
What Can You Do for Fun?
As an entrepreneur, you may not have as much downtime as your employees will, but even so, you will all want to make the most of it when you do. Other family members will also want to get a “good vibe” from their new home, and easy access to things they enjoy. These “quality of life” indicators are one reason that Los Angeles is a great place to live and raise a family. Activities extend beyond those who seek the cool temperatures near the water. There are plenty of activities for your artistic, outdoorsy, and even thrill-seeking side. You could:
● Visit the Getty Cener for visual arts and walk the gorgeous grounds.
● Visit dinosaurs and Hollywood monsters at Universal Studios.
● Hike Griffith Park or the Charlie Turner Trailhead.
● Explore the history and future of cars at the Petersen Automotive Museum.
● Step back in time at the La Brea Tar Pits.
Living Costs
While the Los Angeles temperatures are often temperate, there’s no doubt that its housing market is hot. But the good news is that prices have begun to decline, and analysts believe that trend will continue. If you’re not ready to purchase yet, you can also enjoy several tasteful rental options in the Los Angeles area while searching for the perfect home, or as permanent renters for those who don’t want the bother or the budget of maintenance and repairs. Apartment costs vary tremendously depending on which area of the city you live in and what amenities you desire. You will be hard pressed to find a studio apartment for less than $2,000. It’s best to anticipate paying between $3,000 and $5,000 for a few bedrooms in a decent complex.
Overall, the cost of living in Los Angeles is a bit higher than the rest of the state, and about 75% higher than the national average. Many people are willing to make the trade-off between the cost of living and the overall quality of life. Consider, too, the ability to offset living costs with plentiful access to outdoor activities and proximity to other nearby landmarks. As a business owner, you have to consider all of these facets in your salary offerings as well as your business runway—the money you’ll need to keep operations going.
Bolsters for Your Business
While everyone is interested in “fun and games,” your business is a top concern. It’s important to understand the support you can expect to receive from the community. Los Angeles offers several business and tax credits, such as hybrid and zero emission incentives, the California Competes Tax Credit, and the Federal Investment Tax Credit. In addition the Los Angeles area has a thriving Chamber of Commerce that can help you develop your network and find opportunities to grow.
You can also set up a consultation with the professionals at Golden AQS Strategic Business Consulting. They can help your small or mid-sized business set realistic goals to grow your business in sustainable ways.
Workforce Availability
Having higher education institutions nearby bodes well for locating top talent, as well as attracting employees with families. Los Angeles county emcompasses many different cities, many of which have colleges and universities. With 33.5% of residents 25 or older having college degrees, this area has a good blend of residents looking for work. And according to the US Census, 64.7% of civilians are gainfully employed.
Moving Safely
You now have your sights set on Los Angeles County, so it’s time to plan your move. While you could do everything yourself, it’s easier and safer to hire professionals who are familiar with the area. Look around online for the “best moving companies near me,” but enquire specifically about the company’s and driver’s experiences in Los Angeles. The traffic and city streets may be very different from the ones around your hometown, and it’s best to hire people who won’t be uncomfortable in these environments. Be sure to speak with several people about their experiences in Los Angeles, and read reviews online before having a few companies come out to provide a written quote.
Business Nuts and Bolts
Now that you’ve decided that the Los Angeles area is appealing from both an entrepreneurial and a family standpoint, it’s time to get your business checklist in order. In addition to finding a business location, you’ll need to look at any licensing requirements you’re facing at the state and local levels. Don’t forget any health department or professional licenses or certifications you might need, depending on your profession and industry.
Don’t get too far into your business startup planning without thinking about your business structure. An LLC, or limited liability corporation, offers you limited personal liability and some tax advantages, but with less paperwork and greater flexibility than other corporate structures. Don’t assume that California regulations for forming an LLC are the same as any other state, so check state rules early in the process.
Greeting Los Angeles County
The Los Angeles area is a welcoming place for business owners and families. The cost of living is a little higher than other areas, but the business opportunities are rich here, too. Take advantage of the tax benefits, networking opportunities, and consulting services from Golden AQS to ensure that your move to Los Angeles is a successful one.