Memphis has one of nation's lowest startup costs

SmartAsset has uncovered the U.S. cities with the lowest startup costs, and Memphis takes the seventh spot.

In its first year in business, a company with five employees and a 1,000 square foot office can expect to spend a total of just $234,524 in Memphis according to our calculations. The startup scene in Memphis is beginning to boom as new businesses from around the country and even outside of the U.S. have moved to the Birthplace of Rock and Roll. Of course, that's no surprise since Memphis has historically served as a place where business leaders have thrived. Six Fortune 1000 companies, including FedEx, have headquarters in the city.

Details on the study, including full methodology and rankings, can be found here.
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