Doing Business in the Soundside Makes Good Sense
Written by Andrea H. Reay, President/CEO of Seattle Southside Chamber of Commerce
Starting a business can be incredibly rewarding, but it can also be overwhelming. According to the U.S. Small Business Administration, there are 28.8 million small businesses in the US, which employ 56.8 million people. Small businesses are the lifeblood and foundation of our national economy and our local economy here in the Soundside.
However, with only half of all small businesses surviving the first 5 years of business, it can also be a risky financial endeavor—especially if you don’t have the support you need to be successful. Fortunately, in the Soundside, there is ample support to help ensure your success.
What makes the Soundside region different? Here are a few Soundside qualities that set us apart:
Compared to other nearby cities, the cost of doing business is substantially lower due primarily to lower or reduced business taxes. Things like municipal business and occupation tax or utility taxes or other fees can really add up for small businesses and when 82% of businesses fail due to cash flow problems, having a tax and regulation structure that encourages entrepreneurship and investment makes good sense and is good for business and our community.
Commercial real estate and rental costs are lower in the Soundside. In some areas by as much as 30-40% lower than other markets. Keeping overhead costs low—especially during those critical first 5 years of operation—helps manage cash flow challenges and can help reinvestment and growth for the business. That’s why so many successful businesses will start in the Soundside and then expand to other markets.
With resources such as the Seattle Southside Chamber, Small Business Development Center, and city staff dedicated to supporting economic growth and business within the Soundside, businesses always have a network they can rely on when they need assistance. No one succeeds alone; we are all focused on the success of our community together. That spirit of community and collaboration goes a long way to connecting and establishing new businesses and retaining existing businesses.
Thinking about starting a business or maybe relocating your business to the Soundside? Please contact us for more information on how doing business in the Soundside makes sense for you and your business.
This article was written by Andrea H. Reay, President/CEO of Seattle Southside Chamber of Commerce, “A voice for business, a leader in the community.” Seattle Southside Chamber has served the communities of Burien, Des Moines, Normandy Park, SeaTac, and Tukwila since 1988. For more information about the Chamber, including a full list of member benefits and resources, please visit their website at www.SeattleSouthsideChamber.com