The phrase represents the process of establishing a new commercial enterprise within the geographical boundaries of the state. It encompasses all the necessary steps, from initial planning and securing funding to legal registration and operational setup for a business venture in that specific location. An example includes an entrepreneur developing a business plan, obtaining necessary licenses, and opening a restaurant in Jackson, Mississippi.
Undertaking this process can offer substantial advantages, contributing to local economic growth, creating employment opportunities, and providing goods and services tailored to the needs of the community. Historically, the state has fostered entrepreneurship through various initiatives aimed at attracting and supporting new businesses, recognizing their role in revitalizing the regional economy and improving the overall quality of life for its residents.