High-Opportunity States and the Best Small Businesses to Start

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1. Feature: High-Opportunity States and the Best Small Businesses to Start
   (4 min)

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The New Map of Growth

If you were sitting with Warren Buffett and asked him where to look for opportunity, he would not hand you a spreadsheet. He would point to where people are moving and where businesses are hiring. His advice would be simple: follow the money, follow the people, and you will find the need for your services.

The five states that fit that test today are Florida, Texas, Idaho, Tennessee, and Nevada. These are not the only fast-growing states, but they are the ones that combine size, growth, and momentum in a way that makes expansion possible and profitable.

Population and Economic Momentum

Population growth is the rising tide. It lifts demand for housing, schools, restaurants, and health care. From July 2023 to July 2024, Texas added about 563,000 residents and Florida about 467,000. Idaho, Tennessee, and Nevada also grew much faster than the national pace.

GDP measures that movement. In 2024, Texas reached about 2.7 trillion dollars in output. Florida reached 1.5 trillion. Tennessee crossed 500 billion, Idaho topped 120 billion, and Nevada was in the mid-200 billions. The leaders shift from year to year, but what unites these five states is that people and money are moving in the same direction. That is where you want to be.

Side-by-Side Stats

Source: U.S. Census Bureau, Vintage 2024 state population estimates (July 1, 2024).

Population growth creates more than statistics. It drives demand. It increases housing demand and new service businesses. For entrepreneurs, the movement of people is one of the clearest signals of opportunity.

What This Means for You

Opportunity is also about fit. A state with millions of new residents but stagnant wages may not support a service business. A growing GDP anchored in a single sector may leave other industries struggling. Florida, Texas, Idaho, Tennessee, and Nevada share a balance of in-migration, money circulation, and industry diversification. This balance makes them the lowest hanging fruit for new and growing small businesses.

Twelve Promising Business Types and the Top Three States for Each

1. Home Health Care and Senior Services
   Aging populations are increasing demand for in-home care, assisted living, and senior services.
   Best states: Florida, Tennessee, Texas

2. Childcare and Early Education
   In-migration of young families makes affordable childcare and early education a pressing need.
   Best states: Texas, Florida, Tennessee

3. Renewable Energy Services
   Solar, wind, and storage are expanding where climate and policy support growth.
   Best states: Texas, Nevada, Florida

4. Cybersecurity and IT Consulting
   Fast-growing tech hubs such as Austin and Boise are magnets for IT demand.
   Best states: Texas, Idaho, Florida

5. Telehealth and Nurse Practitioners
   Health care shortages and dispersed populations boost demand for remote care.
   Best states: Florida, Tennessee, Texas

6. Construction and Trades
   Housing shortages and expanding cities create ongoing need for skilled trades.
   Best states: Texas, Idaho, Florida

7. Event Planning and Hospitality Services
   Tourism and events remain strong, with major centers in Las Vegas, Orlando, and Nashville.
   Best states: Nevada, Florida, Tennessee

8. Real Estate and Property Management
   Population inflows increase demand for housing and management services.
   Best states: Texas, Florida, Nevada

9. Logistics and Delivery Services
   E-commerce and new residents require expanded distribution and delivery networks.
   Best states: Texas, Nevada, Florida

10. Food and Beverage with a Niche or Health Focus
    Growing populations and changing tastes create space for concept-driven food ventures.
    Best states: Florida, Tennessee, Texas

11. Pet Care and Veterinary Services
    Pet ownership is high, and new residents bring animals with them.
    Best states: Idaho, Florida, Texas

12. Infrastructure and Facility Services
    Growing metro areas need more clean water, good roads, landscaping, cleaning, and maintenance providers.
    Best states: Texas, Nevada, Florida

Email [email protected] to get started.

Takeaways

Texas and Florida are unmatched in scale and inflows, making them ideal for services linked to aging, families, and consumer demand. Idaho and Tennessee combine smaller populations with rapid growth, supporting trades, technology, and family services. Nevada remains unique with its mix of tourism, energy, and logistics.

Opportunity follows people and money. These five states have both, which makes them some of the most compelling places in the country to build a business today.

Multi-state expansion and opportunities to scale are consistently important topics to our readers, we plan on tracking and updating this information for you a couple of times a year.

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