Hilton Head, South Carolina is one of the most prominent towns in the state. It is already a prominent center for tourism and families from across the country and around the world. But many people do not realize that Hilton Head is also a great place to start a business. It can be one of the country’s best areas for a new small business due to its unique location and personnel.
Safe confines
Hilton Head is a wonderful place to start a business primarily because of safety. It is a particularly safe town in South Carolina. Hilton Head boasts one of the lowest crime rates in the state. It is a town mostly removed from larger areas that have higher crime rates such as Yemassee or Savannah, Georgia. The town is protected by a large police force that patrols its many beaches and golf courses. Individuals are free to shop, dine, and make other purchases at all hours of the night. Safety helps to attract a greater level of talent from all across the country. It can make a higher tax base worth the expense.
New development
Hilton Head is largely a new development. It was nearly abandoned a century ago and has only reached its current status in the past few decades. Many of the businesses that are present in the city are tailored to the hospitality and recreation industries. There are nearly as many hotels and golf courses as there are law offices and accountants. Such an environment is a haven for a new small business in many different fields. Colby Burke Hilton Head explains that there are few established businesses that have cornered large segments of different markets. Land can be bought and zoned without having to worry about massive family farms or entrenched opposition. There are also not a large number of businesses per capita in Hilton head. Less competition for commercially zoned land means a greater ability to buy and establish a building to work out of.
Abundant financing
Hilton Head has a number of wealthy citizens. The town has one of the highest per-capita incomes in the state. As a result, Colby Burke Hilton Head argues that there are many people and banks with disposable income. These individuals could serve as either an investor or a customer base. They could be helpful for a new company getting off of the ground and surviving in its first five years.
In addition, a company could fill an uncommon niche with a higher price point and a lower customer base. Such a business model only works in small, high-income areas such as Hilton Head. The entrepreneur may have a number of different attempts at success before moving into a large area and expanding into new fields.
Conclusion
Hilton Head will only continue to grow in the next decade. More and more families and businesses will move in to take advantage of the island’s unique status as a tourist destination. An entrepreneur needs to move quickly to ensure that their market niche is not taken up by another headstrong businessman looking to relocate.