Memphis is a city unlike any other. It has city amenities and opportunity, but with a hometown feel, making it the perfect place for up-and-coming talent to find community, build a network, and get involved. With an easily accessible region and rich higher education institutions within Memphis proper, this city is bustling with eager students and thought leaders ready to contribute.

Creating a business begins with an idea. Running a successful business depends on location. Without the right location, your business may never take off and receive the kind of exposure it deserves. It may never connect with the right audience, and you may not find the right employees to help make it happen.

You need a city that offers you a top tier of workers and yet doesn’t cost a fortune to move into. You need a city with a thriving population and yet a location where your business will stand out. You need a city like Memphis.

Memphis has positioned itself as one of the premier professional environments in the region — and in the entire country. With a young and growing workforce, you have access to every line of professional you need to help get your company off the ground, from trade professionals such as licensed electricians to young college graduates who are excited to move forward into the professional world.

Like any other city, Memphis has policies and programs in place for entrepreneurs and achievers. Unlike any other city, Memphis is committed to seeing that success become a reality and constantly makes improvements to ensure a more opportunistic environment. Don’t believe us? Here’s the proof.

Talent

Young professionals see cities like Memphis as a great place to plug and play, and that’s why Forbes recently ranked Memphis at No. 4 on its “Happiest City to Work in Right Now” list. The millennial scene in Memphis is vibrant and fun, with organizations like Choose901, Undercurrent and New Memphis Institute that are committed to connecting people and building relationships.

Our Memphis workforce is young and growing—more than 1,700 millennials moved to the city in 2015, putting workers’ median age at just 35 years old. The Greater Memphis Chamber offers grants and incentives to find, hire and train local employees, while a strong educational community of colleges, universities and technical training schools provide quality opportunities for professional training and development in everything from service industries to tech.

Cost of business & living

Tennessee has no property tax or state income tax on wages and has the second-lowest local and state tax burden per capita. Additionally, Memphis’ economic development partners offer tax incentives to businesses relocating to or expanding in the region.

Aside from a business-friendly tax environment, the cost of living in Memphis is consistently at least 12% lower than the national average. This means that, in addition to your money going farther in Memphis, top talent can move here, make money, and still have the income to live the life they want. That’s why Realtor.com ranked Memphis third on their list of where millennials are most likely to buy homes.

Infrastructure

Strong infrastructure is a vital component of business success, and Memphis is one of the nation’s premier supply chain hubs. Whether you require runways, railways, riverways or roadways, you’ll be able to make your mark in Memphis.

Entrepreneurial environment

With giants like FedEx and AutoZone headquartered here and direct access to water, air, and rail, Memphis is widely known as a leader in global commerce and logistics. But what you may not know is that those Fortune 500 companies and other corporate giants in Memphis continue to give back and foster a highly networked B2B community of incubators, accelerators, and start-up support programs. Epicenter is the hub of the Greater Memphis entrepreneurship movement, Bioworks is the Mid-South’s go-to organization for creating companies, jobs, and investment in bioscience and sustainability, Leadership Memphis prepares and mobilizes leaders to work together – the list goes on and on for opportunity in Memphis. In fact, Inc. ranked Memphis at the top of their opportunity index for entrepreneurs in the Nov. 2017 print issue, and Blacktech Week ranked Memphis the best metropolitan area for black-owned companies in 2017.

Memphis is also an ideal place for creatives: the local non-profit arts industry in Memphis drives $197.3 million in annual spending and supports the equivalent of more than 6,100 jobs; Memphis was designated as a ‘Maker City’ by Etsy. For individuals seeking a supportive, entrepreneurial environment, now is the time and Memphis is the place.

Diversity and inclusivity

A conversation about entrepreneurship wouldn’t be complete without mention of WMBEs (Women and Minority-owned Businesses and Entrepreneurs), and no city is more aware of that than Memphis. While there’s still a long way to go to achieve a level playing field, Memphis supports programs and initiatives that work towards creating a more inclusive business environment.

Memphis-based programs like the Supplier Diversity Collaborative are designed to help Memphis small businesses succeed. Through these programs, the heads of minority- and women-owned businesses learn to increase sales via corporate connections and community development, then leverage this success to engage with private-sector companies. The collaborative guides companies through the MWBE certification process, after which they are listed in the MWBE catalog—a database that makes it easier for corporations to find and buy from MWBEs.

Similarly, the MMBC Continuum is an economic accelerator that helps qualifying minority- and women-owned businesses form partnerships with major corporations. With additional support from the Chamber and City Government, Memphis has ambitious goals of increasing the number of – and, more importantly, scaling – MWBEs by hundreds on an annual basis.

To address gaps in the workforce that ensure individuals are growing and scaling alongside businesses, the Memphis business community approaches workforce development as a team. The approach is four-fold: Memphis Works connects businesses and potential workers; the Workforce Investment Network provides the training, skill development and education that prospective employees need to become part of the local workforce; the Greater Memphis Alliance for a Competitive Workforce focuses on long-term workforce development by identifying skill gaps and creating targeted training and education; and the Mid-South Quality Productivity Center partners with Southwest Tennessee Community College to offer consulting and training services to business owners.

By tackling entrepreneurial disparity head-on, Memphis is actively creating pipelines to success for issues that cities across the nation struggle with.

Accelerating

Memphis is home to Start Co., a startup incubator that provides new businesses with the capital, guidance, and discipline to find the investors and facilities they need. Via three different accelerators focused on B2B, ed tech, and women-led startups, Start Co. has graduated 55 startups, with a 75% follow-on funding rate and $18 million raised in investments.

ServiceMaster, the national home services company based in Memphis, is getting in on the startup action as well. In June 2017, ServiceMaster opened the doors to Ground Floor, an Innovation Center in downtown Memphis that consolidated its offices to a single headquarters in a former mall and also created a collaborative workspace.

“Innovation often isn’t this clean, nice bolt of inspiration,” noted ServiceMaster CIO Jamie Smith. “Innovation’s more about having the grit to see that idea through into the world. I really can’t think of a place better than Memphis, the city that had the audacity to create something as disruptive as rock ‘n’ roll and to challenge the monopoly of the postal service.”

Memphis serves as a hub for innovation in highly lucrative fields, giving large corporations opportunities to plug into talent while giving back.

Entrepreneurs looking to help entrepreneurs

Memphis is a different animal from other cities. If you look at larger destinations like New York or Chicago, you need to be both great and lucky to survive. One of the reasons we love conducting business in Memphis is because you don’t need to be lucky. You just need to have a good idea and a strong work ethic. Everything else falls into place.

The city’s strong entrepreneurship community is always on the lookout to help prop up new businesses. Members of this community understand the struggles of starting a new business, and yet they also share the excitement of getting hands in the dirt and building a company from the ground up.

In Memphis, there are always other professionals out there you can bond with. Here, it’s more than professional networking. Yes, you have the ability to forge strong relationships with these other business leaders, but often it’s more than just a professional relationship that is created. There is a drive to assist wherever possible. Because business owners understand what it takes for their own company to thrive, they need others to thrive as well.

Thriving businesses bring in more workers and help to grow the community. So if you’re interested in such a business presence, Memphis is the place for you.

Memphis continues to shape the world

Memphis is known for its music and its food. Yet the city has so much more to offer than just entertainment and a satisfied stomach. It wants to reshape the way small businesses work. That is why the city is set up to assist people who own small businesses — the individuals who are looking to create startups fueled by long nights, coffee and passion. While every business starts with a great idea, many need help along the way to turn the idea into a reality. This is where the city of Memphis comes in.

It all begins with a location

No matter how great an idea is, a business will not thrive if it isn’t in the right location. Without the support of the local community, the budding idea will die before it ever has a chance to take off. Memphis wants to give entrepreneurs everything they need to cultivate the idea and turn it from a dream into a reality. That is why the city has become one of the premier destinations for small businesses in the entire country.

The city is already a great location for individuals looking to not only create a local business, but a regional company. With its position along the Mississippi, Memphis can be quickly reached from cities like Atlanta, Chicago and Cleveland. This makes it easier for a company to grow and thrive. Yet beyond just the geographical location of the city, Memphis itself offers more to local businesses and startups than most other cities in the country.

Resources needed to thrive

Memphis has the thriving talent pool of a large city yet offers the lower costs of a smaller community. Additionally, the state of Tennessee doesn’t have state income tax and has a low property tax rate, making it an affordable option compared to most competing states. When a business starts up, the more money it can save, the more money it can pump back into itself. Because of a number of city- and state-based grants for startups and new businesses, it is easier to get a company off the ground in Memphis than almost anywhere else.

Help Is All Around You

Any business owner will tell you there’s so much work that goes into running a business. The term “small” business isn’t exactly fair to you. While you might be smaller than the large corporations, it doesn’t represent the sheer amount of work that goes into it.

Thankfully, the city of Memphis is behind you and can offer a number of ways to help you out. You can check out the Greater Memphis Chamber to pick up information on opening a small business. Here you’ll find valuable resources to connect you with data on local laws and requirements. It can also help connect you with the right outlets for avoiding potential pitfalls.

There is the Business Development Center as well, which is run by the City of Memphis. It provides you with counseling and guidance in starting up a business. One of the best ways to run a successful company is to know someone who has run both a success and a failure as they will tell you want you should and shouldn’t do. Not everyone has that kind of access, but at the Business Development Center, you do.

You also have the Tennessee District Office and U.S. Small Business Administration located in Memphis. The SBA can help you on a state and federal level for opening a business, including connecting you with small business loans and other development assistance.

There is plenty of help around Memphis. These are just a handful of the available organizations.

Finding Your Mentor

The varying business associations around Memphis are great resources for educating you on running a business. However, there’s still nothing like having a mentor from a successful company giving you tips and insights. Memphis Score can help you with this.

The Memphis Score Organization is an outlet for small business owners looking to better educate themselves and prepare themselves for success. Through the website you can find a mentor who is willing to take you under their wing and show you the ropes.

You can also take in a workshop put on by Score, or you can even read up on the latest Memphis business news and information through the Memphis Score blog. The blog itself is a helpful tool providing you with information that is not only timely and fresh, but specific to you as an entrepreneur.

See What’s Working

One of the best ways to know how to run a business, or at the very least get a better understanding of what is working, is to get out there and take in local small businesses. Stop by and look at what generates customers. Note ideas you like or things you don’t like. You can then implement some of these ideas into your own business. One of the best times to do this is during Small Business Saturday, which is a shopping day put on at different times of the year and is designed to highlight local small businesses.

Bring your ideas

Solo practices, family enterprises, maker businesses and startups are the lifeblood of the Memphis business community, while a low cost of living and moderate home prices make the area attractive to a robust workforce. Small businesses thrive in Memphis, and we welcome you to join our network of doers, dreamers, makers, and believers.

To learn more about how Memphis supports entrepreneurs, check out our partner websites:

• Memphis Works
• MMBC Continuum Memphis
• Greater Memphis Chamber
• Start Co.
• ServiceMaster
• Made By Project

The post Your Guide to Becoming a Entrepreneur in Memphis! appeared first on We Are Memphis.

Often cited as one of the best cities in which to start a business — including in 2019 by Inc. and WalletHub — is Memphis, Tennessee. Memphis offers a unique environment for small businesses that couples the resources of a big city with the willingness to help and a warmth that comes only from a small town. In addition, business startup costs are low in the city, and there is much-better-than-average access to funding.

Check out our list of the best resources to keep entrepreneurs thriving in Memphis — but keep in mind this is just the tip of the iceberg.

• City of Memphis Business Development Center – The BDC provides training and counseling, plus offers loan programs to women- and minority-owned small businesses thriving in Memphis. This includes the City of Memphis Micro-Loan Program, an alternative working capital financing program, and the Grow Memphis Fund, which is designed to create job growth and expansion.
• Small Business Development Center hosted by Southwest Tennessee Community College – The TSBDC is comprised of business consultants who provide guidance and advice to small businesses at no charge. Its resources include business and marketing planning, cash flow analysis and counseling.
• Small Business Administration – Particularly useful in helping entrepreneurs start their businesses, the SBA provides information on Tennessee and regional applications and licenses, financing including loans, and government regulations.
• Black Business Association – A nonprofit 501(c)(3) and the largest trade association of its kind in the region, the BBA focuses on empowering women- and minority-owned businesses thriving in Memphis.
• Greater Memphis Chamber – The Greater Memphis Chamber places a large emphasis on helping locally owned businesses with training opportunities, the Move Your Money to Memphis program to drive sales, loan programs, and incentives to hire local employees. Its Small Business Council was created by members and offers numerous networking opportunities.
• Epicenter – Epicenter is a nonprofit community that connects entrepreneurs in tech, creative and community-based businesses with resources for customers, capital and talent. It uses a systems-driven approach and an extensive network of partners to foster the growth and expansion of startups.
• Start Co. – Start Co. is a group of accelerators, investors and partners that provide their expert services to startups, particularly in the early stages. Its resources include the acceleration of new technologies, mentoring in finding capital and portfolio management.

• Leadership Memphis – A service-based program, Leadership Memphis develops community leaders through training and mobilization. The idea behind this collective is to connect leaders in Memphis with information and technology.
• SCORE Memphis – SCORE provides free mentoring, as well as workshops and training on small business strategy, marketing, and finance

For hard-working entrepreneurs who put their blood, sweat, and tears into their businesses, there is no city more pro-business than Memphis.

You might also be interested in: Visit Memphis, TN | Memphis Tourism Guide

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Create a Name for Your Business

When looking into how to form an LLC in Memphis, you’ll first need to come up with a business name. It will also need to include some form of LLC in the title.

For example, Lucasfilm (the film company started by “Star Wars” creator George Lucas) is “Lucasfilm LLC.” LLC is in the logo; it’s just smaller within the imagery.

You will need to search the Tennessee Secretary of State to make sure the name you’ve chosen is not yet taken. You don’t want to file the paperwork and discover it’s already been used. So visit the Secretary of State and search the business name database.

Reserve the Name

Once you know the name is available, you should reserve it. You don’t want to see that it is available, begin creating all of your logos and then find out someone swooped in ahead of you. So while on the Tennessee Secretary of State website, fill out the “Application for Reservation of a Company Name.” This will reserve your name for four months, which costs $20.

Articles of Organization

Next, you’ll need to fill out the Articles of Organization form ss-4270. You can fill this out online. The fee begins at $300 and goes up to $3,000. Once you complete this form and everything is processed, you will receive your LLC.

Only the beginning

It is important to stay up to date on your annual reports and filings with the state in order to stay current and to not lose your LLC. Your filing agreement will provide this information in further detail.

Get your Business Up and Running

As you hone your craft and develop your business idea, you’ll want to formulate a plan for funding and getting your business off the ground. It’s important to work with individuals who know the ins and outs of running a business because they can help guide you through the startup process. Thankfully, the city of Memphis is perfect for that. With all kinds of services dedicated to startups and small businesses, you’ll have all the help you need to open and thrive. Whatever your venture is, as long as you have a great idea, a great product and a fantastic worth ethic, you’ll have the ingredients to thrive in Memphis.

You might also be interested in: Memphis’ Entrepreneurial Spirit is Disrupting the City

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Helping minority business owners thrive

Memphis has dedicated itself to helping minorities not only live out their dreams of opening up businesses but to assist them in taking their businesses to the next level. In fact, minority-owned businesses are thriving in Memphis unlike any other location in the country, and there are a number of programs behind the scenes helping to make this happen.

The Supplier Diversity Collaboration is designed to work with the heads of minority-owned businesses in making connections between buyers and sellers of products. And the more businesses that enroll into the collaboration process, the easier it becomes to work out beneficial deals for all parties involved.

Additionally, the Greater Memphis Chamber has a special MMBC Continuum program that is designed to help qualified women and individuals of color develop partnerships and network with larger corporations. One of the biggest struggles any small business has is obtaining favorable contracts with product and service providers. The Greater Memphis Chamber helps make this happen.

Developing a better workforce

A business is only as good as its employees, so having access to a better workforce is vital to the sustainability of a company. Businesses don’t simply go to one location over another because of the tax breaks. Businesses go to new cities based on the quality of the workers on hand, and it doesn’t matter what kind of tax break is available if the employees are unable to perform a given task. This is where the Greater Memphis Alliance for a Competitive Workforce comes in.

This program is designed to help identify gaps in skilled positions that potential employers are interested in. The program then goes out and trains local workers in these given skills in order to help produce the highest quality employee to fit the growing need of companies around the region.

Expanding transportation

With the growth of Memphis it has become important for the international airport to grow right along with it. Business executives need to be able to travel not only regionally, but to other major cities as they make pitches to possible clients. To help with this, Southwest Airlines recently announced it would start offering nonstop flights from Memphis to Atlanta, the busiest airport in the world. This not only makes it easier for professionals to travel to and from Memphis, but it also helps reduce the cost of travel, which means more money can be pumped back into the business.

You might also be interested in: 5 Memphis based startups to watch

The post Memphis Continues to Shape the World appeared first on We Are Memphis.

A thriving center for minority business owners

For a city to thrive, it needs businesses and business owners from all walks of life. To help minorities thrive, the city offers resources, grants and loans not found in other states (or even in other cities around Tennessee). This has resulted in Memphis becoming the top city for black-owned businesses, according to both HuffPost and Fast Company and reported by Commercial Appeal.

Interested in starting a business? Memphis is open

If you’re interested in opening a business, the city of Memphis is open to you. Whether it is a restaurant, a fashion design company or a manufacturing plant, if there’s a business you’re interested in starting, Memphis is interested in you. So make sure to check out what the city has to offer, visit the Greater Memphis Chamber for additional insights, and learn just what the city can offer you above and beyond what other areas of the country have. You’ll discover there really is nothing like this gateway to the South.

Additional reading:

We Are Memphis

Greater Memphis Chamber

Commercial Appeal

You might also be interested in: Unleash Your Potential: Finding Your Perfect Business Idea in Memphis

The post Memphis’ bustling economy appeared first on We Are Memphis.

Nike

When it comes to athletic sportswear and shoes, no other company on the planet can compete with the likes of Nike. While a number of corporate Nike locations are spread around the country, Memphis is home to its largest distribution center in the world. Nike identified Memphis as an excellent location to set up shop, thanks to its mostly centralized shipping location. It can send out orders easily to reach major hubs like New York, Boston, Chicago, Detroit, Atlanta, Dallas and others within a day, and it can hit spots on the West Coast without taking too much more time (and without expediting shipments). This isn’t possible if Nike set its distribution center in New Jersey or Georgia.

When working with Nike, you have access to the in-house fitness center (which you’d better believe is state of the art), and there is an on-site child care facility to make it easier on working parents.

Medtronic

This company is the largest medical device manufacturer in the world (again, setting up its distribution facility in a centralized location in the U.S., similar to Nike). One of the best reasons to work for Medtronic is that hourly workers earn around $45,000 annually. And if you’re salaried, it’s significantly higher.

St. Jude Children’s Research Hospital

This is a location where you get more than just a paycheck. There is the satisfaction of knowing you’re helping children, even in the smallest way. Whether you’re working directly with children who are struggling with an illness or you’re washing floors, this is truly meaningful work with a number of excellent benefits, including compressed workweek options, tuition reimbursement, and, depending on your job, you may have telecommunication options.

Finding your new line of work

These are just some of the best Fortune 100 companies to work for in Memphis according to TripSavvy. Of course, you don’t need to apply to only the biggest corporations in Memphis. You should always keep in mind what your passions are and seek out a line of work that connects with you and what you want to do professionally. Thankfully, there are plenty of options here in Memphis. And you’re always welcome to set up shop and begin your own startup as well.

To see the full list, click on the link below!

Original TripSavvy article

You might also be interested in: Census 2020 Memphis Jobs: Join the Count and Make a Difference

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What’s coming to the Memphis International Airport?

Improvements to the airport include: moving walkways, wider corridors, larger boarding areas, higher ceilings and natural lighting. All of these new improvements should make the Memphis International Airport feel bright, open and spacious, while also increasing its overall capacity.

In addition to this, the airport will be adding 25 destinations served by direct flights—becoming both busier and larger.

A $214 million price tag guarantees results

A combination of bonds, federal grants, and self-funding are going to be used for the new developments at Memphis International Airport, with no money coming from the city itself. With the airport being the first impression millions of visitors experience for the city, new developments in the airport’s technology will be good for residents and good for commerce.

Modernization isn’t the only thing that’s going on at Memphis International Airport. The FedEx Super Hub located at the Memphis International Airport is also due for some significant expansion and modifications—and it’s already the second largest hub in the world. There’s going to be a lot to see in the coming years for Memphis International Airport, and for Memphis Growth as a whole.
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Further reading

Memphis International Airport begins modernization project

You might also be interested in: Giving Back is the New Black: Volunteer Opportunities in Memphis

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1. Become an Entrepreneur

Why is Memphis one of the South’s greatest startup incubators? While entrepreneurs freely admit that the city isn’t some kind of Silicon Valley clone, its unique cultural assets and resource infrastructure make it possible to ditch the blueprint and succeed in your own way.

Memphis is a great place to start a business. In addition to a cheaper cost of living, more affordable office space, and a thriving workforce population, entrepreneurs can draw on relationships with their peers: The city’s reputation as an innovation hub makes it easy to connect with partner startups that haven’t lost their spark of inspiration.

This region also caters to companies that want to settle down. The established industry means that you don’t have to search far for supply chain companies, staffing assistance or business service providers that can help you scale up. The presence of local firms like ServiceMaster, which owns numerous service companies, also makes this a good place to start a franchise.

2. Join the Transportation Sector

Memphis’s river location has always made it a huge hub for commerce. While things may look a lot different from how they did in the days of pioneering river traders, the steady development of highways and rail has rendered today’s city just as integral to the exchange of goods.

Memphis transportation jobs come in many forms. As home to companies like FedEx and Ozark Motor Lines, this is a good place to get directly involved in logistics operations as a driver — or work your way up to an executive role that lets you transform the entire industry.

3. Get Your Start in Film

Tennessee isn’t the only southern state that caters to the film industry, but it’s one of the few with a sustained track record of success. The city’s astounding musical output has set the perfect mood for countless box-office hits. The Memphis & Shelby County Film and Television Commission’s support for auteurs, writers, cast members and crews also makes it easy to get a production steaming forward successfully.

Filmmakers who come to Memphis commonly discover untapped talent. From theater programs that hide the next big stars to visual art studios that might just inspire radical new set designs, you’ll never find a better place to cultivate a bold artistic vision.

Memphis is a unique city with a reputation for attracting amazing talent that powers industries large and small. How will you make your impression on the professional landscape?

You might also be interested in: Project WET: A Workshop for Water Education in Memphis

The post 3 Popular Jobs in Memphis appeared first on We Are Memphis.

Varying Taxes

When moving to Memphis, it is important to note that there are both county and city taxes. I’ve found that when determining taxes, many first-time home buyers will come up with one, but not the other, which is why they are surprised come tax time when they need to pay both city and county taxes.

Currently, for 2018, the Shelby County property tax for a home’s appraised value is 4.05 percent. Additionally, the city tax rate for Memphis is another 3.19 percent.

Should you move to the county but live outside of Memphis, there are reduced tax rates in neighboring cities. The tax rates for these cities are as follows:

• Arlington – 1.15 percent
• Barlett – 1.83 percent
• Collierville – 1.83 percent
• Germantown – 1.95 percent
• Lakeland – 1.25 percent
• Millington – 1.53 percent

City of Memphis Property Tax Rate Calculator

To start, you need to know what your 2018 appraised value is. If you are buying a home, you should have the property appraised. The appraised value is not always what you end up paying for it. If there is a bidding war for the home, you may end up paying more than the current value of the property. In this instance, the appraisal will show that you owe less than what you paid for it.

Once you have the appraised value, it’s easiest to start with the county property taxes. For example, if your property was appraised for $150,000, you will multiply it by 4.05 (or 150,000 x 0.0405). This comes out to $1,518.75 for the county property taxes.

Next, you need to determine your city property tax. We will use the Memphis tax rate of 3.19 (if you live right on the city line, it is important to know what side of the street the line is on. It may be the difference of nearly two percent). Using the same calculation method of $150,000 for the property value, you will multiply it by 3.19 (150,000 x 0.0319). This comes out to $1,196.25.

So someone who owns a home with an appraised property value of $150,000 and lives within the city of Memphis will end up paying $2,715 for their home.

Hopefully, this helps you out with determining your property value taxes and what to expect come tax time.

Additional reading: Memphis history facts that we bet you didn’t know!

The post How to calculate your Memphis property tax! appeared first on We Are Memphis.

One Beale

Beale Street in Memphis is one of the best-known and most historic streets in all the United States. The history of the street dates back to the founding of the city, and yet the future will continue on with its legacy. One Beale looks to bring new opportunity to the city while transforming the Memphis skyline.

One Beale will transform more than 5.5 riverfront acres into a multi-use development. This development will cost an estimated $225 million with the first half of this getting underway in 2019. The building will host the Hyatt Centric hotel, residential space, plus additional retail and office opportunities for the growing community.

Central Station

Central Station has long been a staple in the South Main District. However, in previous years, the building fell on harder times. That is why the new development is so exciting. With a $55 million budget, the new Central Station will be completely renovated, bringing in a boutique hotel plus commercial space.

Memphis is quickly becoming known as the epicenter of small business. Those with a dream of a startup or small business are coming to Memphis thanks to what the city has to offer, both in its desirable tax configuration (plus the lack of a state income tax) and the talent pool located here. Central Station will once again be a beacon in its district.

Mississippi River Park

Fourth Bluff and Memphis River Parks Partnership are working to beautify the park space, with the hope of offering outdoor lovers additional features to help maximize their time while in the park. There will be outdoor space, perfect for picnics and gatherings outside. There will be new walking, hiking and biking trails along the river, not to mention buildings to host small-scale events (because sometimes it’s best to get out of the office and take in the natural surroundings of Memphis). With these renovations underway, 2019 will be an exciting year for lovers of the park.

Activities and events

There are a number of activities and events planned for the coming months (with more to be announced) to celebrate the Memphis Bicentennial. The Memphis in May International Festival is in its 42nd year, and it will bring the world to the city, as everything from unique activities to new museum exhibits will go on display for the event. Additionally, make sure to check out the Birth of Bluff City at local Memphis libraries (starting March 23), the 2019 Beale Street Music Festival (May 3 to May 5) and a Taste of Memphis (April 18).

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The benefits of using the Greater Memphis Chamber

 

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Nationally, small businesses are the largest group to make up nearly every local chamber The Greater Memphis Chamber includes a network of nearly 2,000 businesses and 7,500 professionals. The chamber leadership is comprised of 40 experienced business professionals who are looking to help businesses grow and succeed in Memphis. As a not-for-profit organization, the purpose of the chamber is to lift the local economy and support businesses like yours.

• Customers are more likely to do business with a company that is connected to their local chamber (Shapiro Group, Inc.).
• Increase your visibility within the community by being listed in the newsletter and online membership directory. You could potentially be highlighted in the publications. The chamber may even promote your big events or grand openings.
• More networking opportunities and chances for leadership development are available through chamber contacts, programs and events.
• Have a voice in government decisions, joining with the chamber to oppose regulations, taxes, fees, costs, assessments and other harmful things that impede small business.
• Stay on top of the latest information about local business and community events through the chamber newsletters.
• Potentially get increased referrals from individuals or businesses calling the chamber to find local vendors, services and more. Most chamber members will recommend other chamber members.
• Members-only discounts and services in Memphis exist to benefit you and your business for being a partner of the community.
• Participate in chamber events where you can meet other entrepreneurs and business people.
• Increase your business-to-business advertising and reach potential clients through membership.
• Find access to a one-stop shop where you can address the challenges your business faces and find mentors or programs that can help provide solutions.

Small businesses need all the support and encouragement they can get as they grow. Longtime members form bonds and create connections that keep them involved in the chamber. Even if your Memphis business isn’t small or new, joining the Greater Memphis Chamber helps you connect to the community, the local economy and other businesses in the area. Being a community partner can make a big difference in whether you are a Memphis business or just a business located in Memphis.

Build your Memphis business by participating in the local scene and joining our local chamber today. We can’t wait to see what you do!

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Additional reading: LLC Memphis TN: How to set up a LLC in Memphis, Tennessee

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Here are the most important details you need to know:

WHO:

YOU are invited to be part of this incredible event! It is open to anyone, but if you are an educator or a business professional, you are especially encouraged to attend. Come make a lasting impact on the next generation of leaders and innovators in this country who could look back on this night as pivotal in their career.

WHAT:

Pitch Night is the exciting, fast-paced culmination of a 16-week finalist program. It is a fun opportunity for hard-working high school students to showcase the ventures they’ve created to build the future of Memphis. You will be invited to engage with the innovations and the leaders who created them. Vote to select the grand prize winner, and have a direct hand in helping to select thousands of dollars in additional funding for the best student ideas.

Light refreshments will be available.

Even better: Encourage students to use their full potential to change the world.

WHERE:

Join us in the McCallum Ballroom, Bryan Campus Life Center at Rhodes College. Address: 2000 North Parkway, Memphis, 38112

Free parking is available in the Rhodes campus parking lots. There are two lots within a short, one-minute walk to the Bryan Campus Life Center.

Tickets are $10 per person, with all proceeds benefiting the skills development and entrepreneurial ideas of future LITE students.

WHEN:

Thursday, December 6, at 5:30 p.m.

• 5:30 – 6:00: Hear from 27 different students as they share elevator pitches at their booths.
• 6:00 – 7:00: Watch eight finalists pitch on stage for the chance at funding.

WHY:

Because you could inspire a student to dream big  AND improve a city you love. What could be better than that?

LITE has been named one of the five most innovative grassroots organizations driving change in the country by The Renewal Project. Forbes magazine has named it one of the 20 ideas that can change the world. This program has already helped over 2,000 students in Memphis develop and strengthen their entrepreneurial skills.

WHY WAIT?

Get a head start! Between now and Nov. 30 at 11:59 p.m., you are invited to vote for your favorite ideas here. Meet the young innovators and help decide who should pitch on the Pitch Night stage! These students want your vote!

Purchase your tickets here. We look forward to seeing you soon!

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Funding help

Although seed funding may seem tricky to secure when you’re working solo, it can make a world of difference for you and your business—and that’s where the Memphis Chamber of Commerce and other government bodies come in. By taking advantage of their guidance and resources, you can set yourself up for funding success.

Tax credits

Although taxes are going to follow you whether you start your own business or work for someone else, founding a business in Memphis means you may qualify for tax credits that lighten the burden of this necessary evil. The specific credits for which you qualify will depend on the type of business you are operating, as well as the number and type of employees you hire.

Strategy development help

You may think you have a great idea for a business that will be the only one of its kind in the city, but however compelling it is, your vision is unlikely to come to fruition unless you know how to take your plan and put it on paper. If strategy development isn’t your strong suit, the Memphis Chamber of Commerce offers a variety of resources to help you take the leap from entrepreneurial fantasy to startup reality.

Assistance getting a business license

The paperwork associated with getting a business license can seem overwhelming, but you don’t have to wade through it alone. When you consult the Memphis Chamber of Commerce, you not only ensure that every I is dotted and every T is crossed, you also have the opportunity to ask questions, receive input and connect with fellow entrepreneurs—all aspects of running a small business in Memphis that may make your life as a startup owner easier down the road. In short, working with the Memphis Chamber of Commerce is a win-win, so why not reach out to the organization today?

Important resources

Memphis Chamber Of Commerce

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You won’t find many cities around the nation that boast the startup rates you’ll find here in Memphis, TN. This is likely why Memphis has been included on CNN Money’s list of the top 10 best cities to launch a startup… twice.

In 2014, Memphis was ranked No. 10 by CNN Money. In 2015, it jumped up three spots to No. 7.

This impressive rise shows how quickly the city is becoming a hub for entrepreneurs. Whether you’re thinking about moving here or already live here and are considering starting your own business, let’s take a look at why Memphis entrepreneurship is booming.

Memphis is a leader in female-owned business growth

A lot of women are opening up businesses in Memphis. in fact, the city witnessed a 116 percent increase in female-owned businesses between 2007 and 2012. One inspiring female business owner is Neely Draughon, who founded Off the Square Catering in 2008. Draughon was an accountant in Nashville when she decided to attend pastry school and start her own company here in Memphis, and the rest is history!

Memphis was voted the best city for black entrepreneurs

What’s also fueling Memphis business growth is the uptick in black entrepreneurs opening up shop here. In 2018, Memphis was rated the best city for black-owned businesses by Black Enterprise Magazine.

Indeed, minority-owned businesses of all kinds have flourished in Memphis in recent years. Here’s a look at the numbers from between 2007 and 2012:

• Black-owned firms grew 100 percent
• Hispanic-owned businesses grew 113 percent
• Asian-owned firms grew 23 percent

As with the growth in female entrepreneurship, several factors played a role in the rise of other types of minority-owned businesses in Memphis, including the establishment of programs specifically aimed at women and other minorities.

Programs and funding are available to women and other minorities in Memphis

One of the biggest obstacles associated with starting a business is funding, and this is especially true for women and other minorities. To help, the Memphis-based nonprofit entrepreneurial organization Epicenter teamed up with Pathway Lending, a nonprofit community development financial institution, to launch the Memphis Small Business Opportunity Loan Fund.

Currently, the fund is composed of a whopping $15 million and is backed by three local lenders. Its aim is to fund business owners who may not qualify for conventional bank loans, with loans of between $5,000 and $1 million available to both existing business owners and those looking to launch a startup.

Starting a business (and a life) in Memphis

It can be tough figuring out the best place to sow your seeds. At the end of the day, you want to pick somewhere you can live, work and play. You’ll find an array of opportunities for all three here in Memphis, which is why it’s consistently listed as one of the top cities in the U.S.

If you’re committed to becoming a successful entrepreneur, then Memphis is definitely the place to be!

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Built for business

When you think of business and technology centers, Memphis may not be the first city that comes to mind. We are Memphis, after all, and music, blues, and BBQ are what we’ve long been known for. But Memphis is also home to some of the most cutting-edge technology-driven medical facilities in the country, including St. Jude Children’s Research Hospital and Methodist University Hospital.

Memphis isn’t a stranger to massive entrepreneurial success either. In fact, a once small company called FedEx found its start in the heart of Memphis and now brings in an estimated $45 billion in annual revenue. All Memphis entrepreneurs may not quite see that type of success themselves, but make no mistake – Memphis is built for business.

A Memphis state of mind

Memphis is where originality and soul converge to create change and as the power of Memphis is in its people, there’s no better place to shake things up. We are a city of doers, dreamers and believers. We create, we invent, we experiment. This “Memphis state of mind” is one reason why Memphis has been and continues to be the home of an impressive range successful of startups.

Money matters in Memphis

The simple truth is that startups often fail, which will likely have as much to do with money as with anything else. Just a couple of years ago, Memphis made the list of cities with the lowest startup costs, meaning entrepreneurs who set up shop in Memphis have an advantage over those in many other urban areas across the country.

A home for everyone

Memphis may not be known as a startup hub quite yet, but a rising number of people are learning that our city is diverse, innovative and invested in its people. Not only does this make Memphis a wonderful home for everyone, it provides an amazing opportunity for the next great startup.

No, Memphis isn’t Silicon Valley, but it could be the perfect headquarters for your business.

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FedEx is offering free tuition for Memphis-based employees to earn an online degree from the University of Memphis. The partnership will also allow employees who lack a high school diploma to earn a high school-equivalent degree. According to the University of Memphis, about 11,000 employees will be eligible to take advantage of free tuition inspired by FedEx (LiFE) program. The online program will be a big help to Memphis-based FedEx employees as the university offers 60 graduate and undergraduate degree programs online.

For more information regarding this story, click here!

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In 2o17, The City of Memphis ranked as one of the top 15 Best Places to Work and Live as a Moviemaker. The study on filming locations showed that Memphis attracted 119 client projects, nearly doubling its number of network series, which resulted in 983 reported jobs. Sounds like a win-win! Not only does our city provide the perfect background for the big screen, our very own Memphians and local businesses benefit from these productions. But, hey, this is Memphis. We’re not surprised. We’re changing the world, whether onscreen or in our own backyard. If you’re curious what the fuss is all about, just take a look.

The lure

Empowering. Soul-filled. Diverse. These are just a few words to describe the vibe that has attracted so many to Memphis, but what awards us the spotlight for a top filming location? Ask a Memphian and the list will be endless. As for moviemakers, the lure starts with our “infectious Southern vibrancy” and extends to:

The landscape

Memphis’ unique location as the border city of three states offers moviemakers a wide array of nearby landscapes, ranging from downtown Memphis to the Delta Mississippi.

The diverse geography showcases Memphis, but can also be transformative when moviemakers need to emulate the streets of Chicago or the neighborhoods of Cape Cod.

The people

When it comes to cast and crew, moviemakers can’t get enough of who Memphis has to offer.

Since Tennessee is a right-to-work state, there are plenty of talented Memphians who thrive in all parts of the movie production process. Moreover, moviemakers have an abundance of casting opportunities, as creative and theatrical professionals live and act all over the city. Look no further than the Orpheum Theatre, the University of Memphis’ theatre program and more.

Accommodations abound

We owe a lot of praise to the Memphis & Shelby County Film and Television Commission. Thanks to its unwavering support and accommodating qualities, moviemakers have had a hard time passing up filming in the River City. In fact, these benefits led the five-time Academy Award-nominated film “Walk the Line” to shoot in Memphis over Louisiana.

Once confirming their filming location, producers have the freedom to choose from a number of public facilities at no cost, including schools, the Shelby County Courthouse and the more than 14,000-acre Meeman-Shelby Forest State Park.

Our city’s Film Commission then goes overboard to ensure that the entire cast and crew has reservations at local hotels, and continues to handle extensions and other accommodations upon arrival.

Travel and transport

When you’re on a tight deadline and hours and days mean thousands of dollars, time is everything. With this in mind, you can’t blame producers for choosing Memphis! The nonstop flights to Los Angeles and New York relieve a lot of the headaches and wasted time of layovers.

People aren’t the only things needing quick transport during crunch time! When a package needs to be overnighted to Memphis, nearby FedEx International works hard to get items delivered, staying open until almost midnight. After all, we all know what a relief it is when your package arrives on time.

The sounds of Memphis

Last but not by any means least, the music roots that grow and gather throughout our city capture the attention of moviemakers looking to cast musical roles and to create iconic, award-winning motion-picture soundtracks.

Made in Memphis

From indie films to Academy Award- and Golden Globe-winners, beloved movies of all genres have featured the iconic streets of Memphis. Luckily, you don’t have to be part of the cast and crew to see these locales up close. Whether you’re in town for a quick business trip, taking it easy on a Saturday afternoon or visiting to soak up the city’s soul and sounds, follow in the footsteps of some of your favorite actors and actresses throughout our city.

While you can always count on Beale Street as a path where legends walk, don’t forget to check out Memphis’ motion-picture moments at other unique spots, including:

• Schwab: “Mystery Train”
• An alley near The Rendezvous restaurant: “Great Balls of Fire”
• Bozo’s Hot Pit Barbeque: “Walk the Line”
• The Butcher Shoppe Steakhouse: “The Rainmaker”
• Central Gardens Neighborhood: “21 Grams”
• Commercial Appeal: “Nothing But the Truth”
• Earnestine & Hazel’s: “21 Grams”
• FedEx International Hub: “Cast Away”
• Graceland: “Great Balls of Fire”
• Jerry’s Snow Cones: “Great Balls of Fire”
• Orpheum Theatre: “Great Balls of Fire” and “Walk the Line”
• Peabody Hotel’s Ballroom: “The Rainmaker”
• Peabody Hotel’s Chez Philippe: “The Client”
• The Pipkin Building at the Memphis Fairgrounds: “Walk the Line”
• Riverside Drive: “The Firm”
• Shelby County Courthouse: “Silence of the Lambs”
• South Main: “Great Balls of Fire,” “Mystery Train,” “Walk the Line”
• Sun Studios: “Great Balls of Fire,” “Mystery Train,” “Walk the Line”
• The Arcade Restaurant: “The Client,” “Mystery Train,” “The Rainmaker”
• The Shrine Building: “The Firm”
• Westy’s: “The Rainmaker”

This is only a portion of some of our city’s most memorable moviemaking landmarks, and as Linn Sitler of the Memphis Film Commission noted, Memphis’ onscreen appearances don’t start or end with movies: “Even in years with major feature films, TV has always been our meat and potatoes.” If you’ve been binge-watching “This Is Us,” you’ve probably spotted our soulful city in some scenes!

Becoming one of the top filming locations for moviemaking is just one of the reasons why the world is quickly falling for the inescapable attraction of Memphis. Don’t be surprised if you keep seeing us on the big screen!

You may also be interested in: Why moving to Memphis is the fresh start you need 

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One of the hottest landing spots for recent graduates is Memphis. This unique, soulful city has become a hub of innovation and growth for a wide range of companies that do business on both a national and worldwide scale.

Some of the highest-paying entry-level positions are based right here in the 901! Salary data was computed by sifting through job profiles and postings with LinkedIn’s salary tool.

Operations Engineer

The world hub of FedEx’s global operations calls Memphis home and employs a wide range of local engineers. Operations engineers focus on solving problems using scientific methods, and as you would assume, they are a major part of FedEx’s largely logistical operation.

Much of FedEx’s tactical planning and engineering is carried out by operational engineers who are dedicated to planning, organizing and controlling the company’s global services in the most efficient and effective way possible. Fiscal year and long-range planning are also handled by these engineers.

Insight and Aramark are two other major employers in the Memphis market that utilize the services of operations engineers, with the latter leveraging engineers to develop and deploy its facilities management program.

Data Scientist

What’s inside a number can help businesses run more efficiently and effectively. Collecting, analyzing, curating and integrating this information is the job of a data scientist.

Although healthcare may not be the first industry that comes to mind in connection with data scientists, the Memphis-based St. Jude Children’s Research Hospital utilizes data science to mine and model data for drug screening experiments, lead development and drug repurposing projects. Ultimately, data scientists at St. Jude work with chemical and biological data to drive research forward.

ServiceMaster is another major Memphis employer that utilizes data scientists in creating a roadmap for the company’s future and developing ServiceMaster’s unique vision.

Investment Banking Analyst

Positions in investment banking took the top spot on Business Insider‘s list. Analysts in this field cull and analyze financial data to better monitor investment portfolios for individuals and businesses, making an average of $105,000 at the entry level.

One of the top landing spots for investment banking analysts in Memphis is Duncan-Williams. Tracing its history back to regional municipal bond firms, Duncan-Williams has grown into one of the largest female-owned investment banking firms in the nation. Despite its size, it has remained focused on operating with a small-business culture, making it popular with recent graduates.

Memphis has become a national destination for both employers and those seeking jobs after graduation. Located in a right-to-work state with a relatively low cost of living, Memphis offers numerous workforce advantages that will continue to lead growth across the board for years to come.

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