If you have ever lived in Maine or even been to Maine, you have probably wondered about buying a business, moving a business, or starting a business here. There are some obvious advantages and disadvantages of running a business in Maine, and some not so obvious. For this week's blog entry, I thought I would cover what I think are the key Pros and Cons in making this important decision. If you read this and have a thought, please feel free to enter it in the comment section.

Pros:

Quality of life. There is no doubt about it. Living in Maine can feel like a vacation all year long. With beautiful mountains, lakes, and beaches, the state has it all. Even if you're not into the outdoors, the cleaner air and smaller crowds will be refreshing. The state motto says it all: "Maine: the way life should be."

Safety. For 2004 and 2005, the violent crime rate was ranked 51 out of all 50 states, Washington D.C., and Puerto Rico, beat only by North Dakota. In all other crime categories, Maine ranked at worst 39, and most were above 45. Maine is a safe place to own a business.

Low cost of living. Although the cost of living in Maine is higher than some of the Midwest, it rates well against other coastal states and the rest of New England. Housing prices are particularly low compared with the rest of the East Coast. In addition, wages are slightly lower in Maine, providing your business with cheaper labor.

Laid back style. Many of the above advantages give Maine a style all its own. Because of this, Maine has many successful businesses in the face of an era of chain retail box stores and restaurants. For example, Hammond Lumber out of Belgrade, Maine, has grown even stronger since competing home improvement stores Lowe's and Home Depot have come to the area. People in Maine tend to have a strong sense of community.

Great place to raise a family. The low crime rates, the quality of life, and the great schools make Maine a great place to raise a family. Maine's standardized test scores at most schools rank among the highest in the country.

Cons:

Higher taxes and fees. In some ways, running a business in Maine is expensive. Profit taxes are higher than most. Income taxes are high. Business fees are higher and more frequent. Vehicle registration costs more. One way to look at it, though, is that you are contributing to help make Maine one of the best places to live. Otherwise, you will probably be complaining about it every time you have to pay another fee or tax.

Proximity. Maine is not convenient to most of the country. With only one Interstate coming into the state and only two small commercial airports, Mainers like to keep to themselves. If you have a business that requires a lot of freight shipments to and from the rest of the country, it may be considerably more expensive to do it from Maine.

Smaller customer base. The entire state of Maine only has around one million people, the same number that would be found in a major metropolitan area. That more than likely means fewer potential customers if you are a business that counts on local customers.

Well, there you have it. You will love Maine if you live here. Whether or not its the best place for your business, that's up to you.