Starting a business in Delaware is a great idea. The favorable tax scenario and stable economic and political environment are enough for you to start a company in this US state. But are you confused about the sector you can enter in this jurisdiction? Then, let us tell you that Delaware has a wide range of business opportunities. Let’s discuss the top 8 business ideas for your company formation in Delaware.
- Travel Agency
Delaware is one of the most renowned tourist destinations due to its beaches, vibrant culture, and historic sites. Lewes and Dover are among the most popular tourist spots in the state. Therefore, starting a business in the travel industry will always be beneficial for you. You can establish a travel agency or become a tourist agent, as the local sector is constantly growing.
- E-commerce Business
Who doesn’t like to do online shopping nowadays? Delaware is no exception in that aspect. People are gaming, shopping, and doing business online. So, what is stopping you from starting your e-commerce business in Delaware? The state has the perfect combination of business-friendly policies, logistics and warehousing facilities. Company formation in Delaware is so flexible that you can start your business from your home.
- Food Truck Business
Another profitable business opportunity in Delaware is the food truck business. The US food truck market is growing rapidly. It is considered one of the most affordable and most manageable businesses to start. The setup process and requirements are minimal. Cities like Wilmington have established designated areas for food trucks, providing a platform for these businesses to thrive.
- Real Estate Investment
There is a high demand for both commercial and residential properties in Delaware. Picture it like this: the buyers will have to face fierce competition to get a house in a particular area, like a gated community, due to the limited availability of land. Now, if you open a business as a real estate broker, imagine yourself with the profits you can make. This is a scenario for residential property. Let’s talk about commercial ones next. The tax optimization policies are attracting business investors from around the world to Delaware. It offers a variety of real estate investment opportunities, including residential, commercial, and industrial properties, catering to different investor preferences.
- Healthcare and Wellness
Delaware’s per capita healthcare spending experienced a significant 6.3% increase in 2022, surpassing the 3% growth rate benchmark outlined in the State’s fourth annual Benchmark Trend Report. This report clearly highlights the business opportunities in the healthcare industry. If positioned adequately, starting a company in this sector will give you loads of benefits. There’s a growing emphasis on preventive care and wellness, leading to increased demand for services like wellness coaching, nutrition counselling, and fitness programs. Try to focus more on these aspects to start your company.
- Bookkeeping and Accounting Services
The number of business incorporations in Delaware is endless. However, with more businesses coming up every year, the government also came up with strict regulations. So, enterprises require expert help to ensure compliance, driving demand for accounting professionals. This has created a demand for payroll, bookkeeping, accounting, and data analysis services. Opening a company in this industry will be beneficial for you in the coming years.
- Veterinary Industry
About 58% of the population of Delaware own pets. There is a need for veterinary services in the state. These services include pet grooming, surgical treatments, routine examinations, and laboratory services for animals, among others. Animals here comprise household pets, wildlife, and livestock. Now, you can imagine how broad this industry is in the state. In fact, the Veterinary Services industry in Delaware is expected to expand, reaching a market size of $203.1 million by the year 2024.
House Cleaning Business
Delaware has a strong economy, and dual-income households have extra funds for cleaning services. Rising disposable income and demand for convenience are creating the need for more house-cleaning businesses in Delaware. So, if you are ready for company formation in Delaware in this industry, look for niche customers, such as busy professionals, elderly individuals, or families with young children, to grow your business.
These are some of the top business opportunities in Delaware where you can explore your potential for growth. Another thing to consider here is the benefit of opening an offshore company in Delaware. The state offers competitive tax rates. Moreover, it does not impose any sales tax. Additionally, there is less of a requirement for auditing and financial reporting. The state also provides an outstanding level of flexibility when it comes to offshore company structures. LLC and IBC are some of these structures. What more can you ask for? So don’t delay in opening an offshore company.However, to do so, you will need a corporate service provider to assist you. Business Setup Worldwide (BSW) can provide you with the required services. We have been dealing with more than 7000 clients for over 8 years. Our consultants will provide their best services to aid your business requirements. Contact us right away to learn about your company formation in Delaware.