Entrepreneurs Share Their Money Saving Tips

By Ben Steverman - 2011-09-15T00:41:10Z

Photograph: Courtesy of Nicolas Perkin

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Nicolas Perkin, the Receivables Exchange

Nicolas Perkin is a "born-and-raised New Yorker" who has lived in California and Europe. Four years ago, he decided to start a company in what was, for him, an unlikely location: New Orleans. "The world is really connected these days. You can pretty much choose where you want to start your business," says Perkin, co-founder and president of the Receivables Exchange, which allows small and midsized businesses to raise money by selling their accounts receivable to investors.

New Orleans has a big advantage, beyond the jazz and beignets: It's inexpensive. Hotels are cheaper, it's still easy to travel to the west or east coasts, and many employees have large, cheap apartments close to the office, he says. "I definitely feel like my quality of life has improved."