Southaven is the third-largest city in Mississippi. It is diverse in nationality, and overall family-oriented. The structure of Southaven makes it a perfect place to make a career by running your own company. With that in mind, let’s see what the top 5 locations in Southaven, MS to open a small business are, and how to do it by the book!
The West End District
The West End District is nestled between Stateline Rd. eastward from Highway 51, and southward to Dorchester Dr. It is also known as the “Original Southaven”. It has a huge business district, and a few incentives aimed at helping SMB owners in starting a business for less than $100.
All new businesses get a 7-year tax exemption from City ad valorem taxes. Furthermore, they also signed a waiver of business license fees, building permit fees, and sewer and water tap fees. Additionally, the Southaven Chamber of Commerce is doing everything to help in promoting the development of the district. They also offer their own incentives.
The Snowden District
This small district is located between Goodman Road to the north, Pine Tar Alley to the east, Church Road to the south, and 900′ of depth to the west.
Also known as the “Getwell corridor” because it runs next to Getwell Road, it is very important for the growth of the city. Many successful businesses are running in this area, and it also has one of the most developed entertainment centers in the area.
Because of its potential to develop even more in the future, it is a good place to start a business. There are plenty of opportunities for small business owners to get business coaching, and have a solid start when they open.
The Metropolitan District is between Church Road and interstate 55 Interchange. The reason why it is one of the top 5 locations in Southaven, MS to open a small business is that it has an array of developable properties on all 4 sides.
The idea for the future is that this district becomes one of the hotspots in Southaven. With that in mind, a lot of existing business owners are trying to find assistance in the area and move to a better location that will secure them access to more customers in the future.
It is also important to say that this district is known as the “Opportunity Zone”. They also allow a waiver of water and sewer tap fees and building permit fees for any construction work in the value of $25 million or more. If you are a private investor, there is also tax relief for capital gains.
Commercial development is happening on a large scale, and also has a lot of upscale hotels, malls, and much more.
Highland Grove is one of the more calm neighborhoods in Southaven. It runs as an HOA, and the community is very friendly and family-oriented. For that reason, the entire area is very suitable for family-owned businesses. The best ideas for businesses in this area include the food retail industry.
Tall Oaks is a beautiful neighborhood that is mostly oriented around real estate companies. If you were considering a career in real estate, this could be a good place to start!
How to start a business in Southaven?
Now that we know more about the top 5 locations in Southaven, MS to open a small business, let’s talk a little about the technical side of the process.
Business plan and other requirements
Let’s talk about some other requirements for starting a small business in Southaven, MS. First of all, you need a good business plan. Since there are investors there looking to invest, a good business plan could provide financing for the first few months.
After that, you need to determine the structure and formation of the office property and get an EIN number for your business. Once you register for State Tax ID and State Taxes, you need to make sure all of your licenses and permits are approved.
When it comes to opening a small business in Southaven, there are 3 types of licenses:
- commercial-based license – first download the Business Occupancy List and head out to the Office of Planning and Development. You will need to speak with the City Planner to get the approval for the license;
- transient license – this type of business includes any merchandise sales on any type of property for less than 6 months every calendar year. Before getting started, you will need to fill in an application for a transient license.
- home-based license – for this type of license you will need two application forms: Privilege license form and Restrictions for home occupations. Before these are processed by the City Clerk’s Office, both forms must go through the Office of Planning and Development.
All of the licenses are issued by the City Clerk.
Finalizing the process
After your permits are approved, you can proceed with setting up a business bank account, and your accounting sector. Once you obtain insurance, you can start hiring employees.
Moving your existing business to Southaven, MS
If you are already running a small business, you can also consider moving it to Southaven, MS. Since it has a promising future due to the recent developments, this could be a good strategical move. Spyder Moving will help in the process, making sure that the transition is smooth and quick.
These are the top 5 locations in Southaven, MS to open a small business
There is a bright future ahead for business owners in Missippi. These top 5 locations in Southaven, MS to open a small business are suitable for a good start. The City Officials are doing everything they can to attract more businesses in hopes of developing the entire area in the years to come. You should use all those benefits and incentives, and get a good headstart in front of your competitors. Good luck!