It is certainly an attractive state to invest in, especially for Hispanic Entrepreneurs. The quality of life is high, it has great potential for the growth of small and medium-sized companies. Keep reading so you know the best places to start a business in Florida.
Florida attracts entrepreneurs
In previous publications, we highlighted that Florida is one of the best states for Latin American entrepreneurs and this time we ratify it. There are several reasons why this state is one of the preferred by the Latino community to open a business.
Among them, it should not be overlooked that it is one of the strongest economies in the United States. Tourism is one of the strongest industries, driven by beaches, theme parks, sports facilities and events, etc. All of this attracts visitors who help keep business local.
But not only tourism is lived in Florida. Other important sectors have to do with commerce, manufacturing, information technology, gastronomy, transportation, among others.
Another reason for finding the best places to start a business in Florida is that there is no income tax. Plus, home prices are lower than in other top states for entrepreneurs.
On the other hand, the state has numerous resources for those who want to start their own business. This includes advisory, plus a growing number of angel investors and venture capital.
The strategic location also attracts those entrepreneurs who have the internationalization of their business in mind.
Cities with a lot of potential
When we hear about this state, we may think only of the largest cities. In fact Florida trend specifies that nine Florida metropolitan areas are among the best places to start a business. These are, in order of appearance in the list:
- Miami-Fort Lauderdale.
- Cape Coral-Fort Myers.
- Palm Bay-Melbourne.
- Daytona Beach.
- Tampa-St. Petersburg.
But there are small cities that also have a lot of potential, especially those that are close to the large urban centers.
Best Places to Start a Business in Florida
In the following list we will tell you about some of the cities to consider if you want open a business in Florida.
We start with one of the most important cities in the state. Tourism, commerce and technology are among the main economic sectors. However, we must also highlight the real estate and gastronomic industries.
It is also one of the centers that receives more immigrants in the entire state, which has also favored entrepreneurship in the region.
The Latin culture is deeply rooted here and if your business is targeting this market you have found the ideal place.
Explore these profitable business ideas in Miami.
It is a suburb located very close to Miami, just 15 miles away, so it takes advantage of the momentum that this city gives it.
Tourism and entertainment are strong economic sectors in Doral, as well as commerce.
Entrepreneurs have access to business consulting at the University of Florida, as well as the Small Business Development center.
Another city near Miami, where residents have some of the highest income in the state according to Nerd Wallet. It is between Florida cities more attractive to live and invest in real estate.
Once again, tourism and catering are areas that you will have to explore if you want to open a business in Coral Gables. But the clothing boutiques also stand out here.
This is another of the names we are most familiar with in Florida. Here, the tourism attracted by theme parks is the engine of the economy. However, Orlando is more than that; other important areas are transportation, education and the economy.
Being the sixth largest city in the state, it is a good place to live and settle. The unemployment rate is low and the cost of housing is cheap.
This suburb is 10 miles from Orlando and Nerd Wallet also ranks it among the best places to start a business in Florida for a number of reasons. In the first place by the income level of the inhabitants and, secondly, by access to resources such as consultancies, coaching and incubation programs.
Tampa is a city that is still growing and in which tourism occupies an important place, as well as manufacturing. But apart from these there are other types of companies to explore. For example, there are a significant number of beauty salons, computer services, computer programming, among others.
This is one of the major cities in Florida. It is located in the center of the state and has a transportation infrastructure that favors economic activities. This includes three freight railways and four airports.
Medicine, education, banking, insurance and manufacturing are the most important economic areas.
Other cities like Fort Lauderdale, Naples, and Orange City are also among the best places to start a business in Florida. Be sure to seek advice to find the best location for your business.