Albuquerque as a Business Destination
Albuquerque is witnessing an entrepreneurial renaissance with a startup-friendly culture, excellent universities, great work-life balance, and a business-friendly local and state government. The city’s tech scene is vibrant with STEM jobs galore. Albuquerque made the list at #55 for best cities to start a business with an overall score of 48.08.
Drawbacks of Doing Business in Albuquerque
However, Albuquerque does have some drawbacks like high income inequality, weak real estate market, and high crime rate. So while the city offers opportunities, businesses also face challenges with inequality, real estate, and security.
Steps to Start a Business in Albuquerque
- Research the local business climate
- Choose a business structure
- Register your business name
- Get licenses and permits
- Set up accounting
- Find financing
- Pick a location
- Buy insurance
- Hire employees