Englewood vs Edgewater – Which is better for small businesses?

If you are a small business owner, you know that choosing the right location can make or break a business. Deciding between Englewood vs Edgewater can be a difficult decision. Both cities are located in Bergen County in New Jersey. Englewood has a population of around 30,000 residents, while Edgewater is significantly less populated, with around 11,000 residents. If you decide to move your small business to either of these cities, there are reputable moving companies Jersey City can offer. Both of these towns have upsides and downsides for small business owners. Keep reading to find out more about their differences and similarities so you can decide which one is right for you.

What to look for in a town when you run a business

Before you choose between Englewood and Edgewater and hire local movers NJ, you should consider important factors that can determine whether a town is right for your business. Some of the most important things to compare to help you decide which one is for you are:

• Quality of life
• Cost of living
• Crime rates
• Job market
• The economy
• Demographics.

Quality of life

High quality of life will affect your business positively, as you are more likely to get customers in places with overall better life quality. The good news is that both Englewood and Edgewater are smaller cities that have been drawing people in since the pandemic. Since the housing options are more affordable and more people are working from home, smaller towns are becoming more and more popular. This can also impact your business as more residents can mean more potential customers. Also, when it comes to quality of life, Edgewater is ranked as the 6th best place to live in Bergen County, according to Niche. You can easily relocate your business here with the best movers Edgewater NJ offers.

Cost of living

When it comes to the cost of living in Englewood, it is important to note that it is 31,4% less expensive than Edgewater. The biggest difference in expenses is in housing. The housing options in Englewood are 53,1% less expensive than in Edgewater. The median home price is 403,800$, and the average rent is 1,511$. This can also mean that if you decide to rent an office space in Englewood, you will have lower expenses than in Edgewater. And if you choose Englewood, know that professional movers Englewood NJ has will help you relocate smoothly.

Housing in Edgewater is significantly more costly than the national average. The median house price is 617,500$, and the average rent is 2,422$. However, when it comes to other expenses such as health care, groceries, and utilities, there isn’t a big difference in prices between Edgewater and Englewood. If you’re looking to save money when moving your small business, the good news is that office movers NJ is relying on can relocate your business to both of these locations at an affordable price.

Crime in Englewood vs Edgewater

Crime and safety are important factors when calculating the quality of life, as well as choosing a place for business, big or small. Property crime is lower in Edgewater than in Englewood. Burglary and theft are the most common crimes committed in both of these suburbs. However, there is no need to worry as both Englewood and Edgewater have lower crime rates than the national average and are considered safe places to live. On the other hand, you should still purchase insurance for your business equipment just in case something happens.

Job market

The job market is important to keep in mind when choosing a place for your small business. It will impact how much you have to pay your employees. And it will also play an important role in hiring new people. And on top of that, it will also have an effect on the rates you charge for your products or services. The average household income in Englewood is about 86,000$, while the median household income in Edgewater is around 130,000$, which is significantly higher. The average salary in Englewood is about 40,000$, and the unemployment rate is 7,8%. In Edgewater, the average salary is higher, at 60,000$, and unemployment is slightly lower at 7,4%.

Economy

The economy is a crucial factor when choosing a perfect place for your business. You want to seek a place with a booming economy and a growing job market. This will help your business grow and your profit grow. Englewood has seen a job market decrease of -0,5% in the last few years, while future job growth is expected to be 24,2% in the next ten years, which is less than the national average of 33,5%. The job growth in Edgewater is the same as Englewood at -0,5%, while the expected growth is slightly higher at 25,3%. When it comes to taxes, the sales tax rate for both Englewood and Edgewater is 6,6% (the US average is 7,3%), and the income sales tax is 5,5% (the US average is 4,6%).

Demographics

There are two important things to note when it comes to demographics. First, view who are your customers and clients and how will the location of your business affect them. It depends on the type of business you own because if you’re in retail or providing services, your location is critical. That is why it is important to look at the demographic profile of Englewood and Edgewater.

The second one is about the community. You should make sure that enough percentage of the locals fit the profile of your average customer. This is especially important if your business is local. In Englewood, there are mostly people with high education, and the average age is 40, whereas in Edgewater, the median age is 38, and most residents have high education, as well.

Englewood vs Edgewater – Which is better for small businesses?

Last but not least, choosing the perfect place for a business is no easy task. If you want to decide between Englewood vs Edgewater the good news is that both of these places are quality places for living as well as doing business. You won’t make a mistake no matter which suburb you choose!

References:

https://www.niche.com/places-to-live/edgewater-bergen-nj/