Entrepreneurship in Arizona

Arizona is the birthplace of a ton of everyday wonders. Everything from rubber asphalt (created by Charlie Mcdonald), to the Jet Ski (created by Clayton Jacobson II in 1972), to the taser (created by Jack Cover in 1974) was created in Arizona.

With people like Chase Albright (founder of C + D Industries), and Justin Bayless (CEO of Bayless Integrated Healthcare) to look up to, Arizonans love to lead entrepreneurial teams that change the world.

Known for its dazzling desserts and the awe inspiring Grand Canyon, Arizona receives around 46 million overnight visitors each year. Now consider the rich mineral deposits full of copper, petroleum, and coal the state holds and you will be running to start a business in its stark landscape.

Registering Your Business

Registering your business is one of the first steps to success.

And with Arizona’s 50 dollar filing fee for starting an LLC, it's important you get it right.

Decide what kind of model is right for you (LLP, LLC, Corporation, Sole Proprietorship). Most small businesses start with an LLC. If you’d like an LLC, S-Corp, or C-Corp done for you, we’d be happy to do that on your behalf.

Click here to learn more.

Market Analysis

Before you start your business, look around to understand the market in Arizona.

With an abundance of rich natural resources, Arizona has a ton of business potential.

According to TaxFoundation.org, Arizona ranks 11th in the race for the best property tax.

Competitor Analysis

Another good way to understand Arizona’s market is to visit your local Chambers of Commerce.

Chambers of Commerce

You can use your local chamber of commerce to identify opportunities and threats in your local community. It’s a great way to get started on the bottom 2 quadrants of your SWOT analysis.

We’d recommend looking through it and identifying competitors in your industry, and identify the points of parity you need to live up to, and how to better leverage your points of differentiation.

Labor Statistics

Arizona is full of hard working people that can be amazing assets to your company.

Unemployment rate in Arizona:

4.6%

Information from U.S. Bureau of Labor Statistics

Average annual salary in Arizona:

62,096 dollars

29 dollars an hour

Information from Zip Recruiter

Education levels for residents of 25 and older:

Associate degree:

8.7%

Bachelor degree

18.8%

Graduate or Professional degree

11.3%

Information from Statista.com

Housing Market

Arizona's housing market is booming, especially in the Phoenix metro. With only 33% of households who can afford a middle priced home the market is relatively tight but compared to other states it is affordable.

Information from howmuch.net

General Advice

Arizona is a unique place to start a business. We hope that the resources and points we brought up here will help you start a business there.

If you’d like to dive deeper into how to start a business, check out our much longer article How To Start A Business. Use both of them to get started on the right foot from day one.

Miller IP Law is a firm that focuses on small businesses, startups, and entrepreneurs/solopreneurs. We’re easy to use. We offer affordable pricing that’s transparent and flat-rate. We focus on the little guys who actually need our help. If you’d like an attorney on your team, simply schedule a Zoom call, and we’ll take care of the rest.

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