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5 Reasons to Start a Business in Florida

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5 Reasons to Start a Business in Florida

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Florida hosts a whopping 79.8 million tourists every year. It’s no secret that people come to Florida to spend their time and money. If that alone doesn’t have you sold on opening a small business in Florida, there are plenty more reasons to give it a go.

Business

Smiling African small business owner, leaning on a work table in his studio, smiling at the camera while holding a digital tablet

Read on to find out five reasons to start a business in Florida!

1. Low Tax Structure

The state has an attractive tax climate due to numerous factors. However, one of the biggest advantages is that there is no individual income tax. In addition, Florida is ranked #4 for best business tax climate.

The advantages of a good tax structure are unrivalled when it comes to running a successful business. This factor combined with other money-saving elements in the state make a wonderful climate for startups.

2. Quality of Life

The Sunshine State has a high quality of life. If you’re looking to open a business, you want to do so where you and your customers will be happier.

There are tons of things that you can do when you’re not working including world-class beaches, amusement parks, golf courses, and other outdoor activities. On the flip side, with a lot of competition comes a lot of responsibility. This company can help you get the best Florida marketing techniques to apply to your business.

3. Diverse Economy

When you start a Florida business, you can expect an incredibly diverse economy to support you. Starting a business in a state with a diverse economy is important because you should be able to withstand downturns in business cycles and unexpected supply and demand shocks.

From aviation, manufacturing, and seaports, there are tons of opportunities presented in the state. They have a wonderful infrastructure to create business opportunities.

4. Lower Cost of Living

While costs of living differ in certain areas of Florida, there are plenty of cities that offer a much lower cost of living. This is great news for you as a business owner! When you have smaller bills, you make more profit.

This lower cost of living is attractive when combined with a higher quality of life. Not only is the state a desirable place to live but it is also something that most people can achieve. This is bringing more and more residents to Florida!

5. Easy Access to Capital

Florida is ranked #5 in the country for venture capital funding. In 2018 alone they handed out $511 million to startups. If you are concerned about getting the funds to go into business, then you have little to worry about in the great state of Florida.

Starting a Business in Florida

Starting a business in Florida is something that many dream of! Who doesn’t want to be their own boss in the place that millions of people come to visit every single year? When considering if you should go into business in the amazing state of Florida, remember all these advantageous factors!

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Calvin M. Barker

Typical tv scholar. Problem solver. Writer. Extreme bacon fan. Twitter maven. Music evangelist. Spent a year consulting about salsa in Fort Lauderdale, FL. Spoke at an international conference about lecturing about junk food in New York, NY. Earned praise for promoting robotic shrimp in Phoenix, AZ. Spent 2002-2007 working on catfish in Naples, FL. Spent several months developing yogurt in Orlando, FL. Spent high school summers managing dandruff in Africa.

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