You will not only be able to avail the facilities of business credit for Rhode Island companies when you plan to start a new venture in the Rhode Island but also get ideal surroundings suitable for the growth of the business. Best thing about starting a new business in Rhode Island is that you can predict future prospects more accurately and the controlling of the business is easier than other areas.

Reach One Million Audiences:
When you come up with a new business idea and start new business in Rhode Island, you have one million prospective customers all within an easy to manage distance of one thousand square miles. Rhode Island is completely different from all other areas. Here you have easy access to the government. Environment is so friendly that every stakeholder in the company calls other one by its first name. In essence, this is the place where the dreams of new business ideas are made true.

Rhode Island Enterprise Zone Business Credit:
The state government has designed a tax rebate program also known as Enterprise Zone Program, as business credit for the companies who expand their business structure in any of the 10 state enterprise zones identified by it. Let us understand what the eligibility norms are for this Rhode Island Enterprise Zone Business Tax Credit. If you locate your business in one of the ten state enterprise zones and provide 5 % more employment to the people who are the full time residents of the Rhode Islands, then you can qualify for this kind of business credit. Amount of business credit is half of the total salary paid to the newly appointed employees. However, this amount should not be more than $ 2,500 per employee. This amount further increases if the employee also lives in the enterprise zone. In this case, the amount of business credit you get is equal to the 75 % of the wages paid to the new employee and the maximum limit per employee increases to $ 5,000. There is nothing to worry if you cannot use this tax credit in the same year because you have the option of extending it up to three years.

Enterprise Zone Business Tax Credit:
If you qualify for the Enterprise Zone Business Tax Credit but still look for other options then you may choose Enterprise Zone Resident Business Owner Modification. However, to avail this option you need to be living in the same enterprise zone in which your business is located. For the first three years, the amount is $50,000 and for fourth and fifth year, it is $25,000. In addition to the above mentioned residing restrictions, the Rhode Island Company must achieve the 5 % growth also.