Finance website The Credit Review ranks Florida as the top state to start a small business.
Seven of the top 25 metro areas best for these small businesses in the U.S. were also located in Florida.
Jacksonville ranked as the best metro area for businesses in Florida. Other top locations in the state for local businesses include Sarasota at #10, Tampa at # 12, Miami at #14, Cape Coral at #17, and Orlando at #19.
Credit Review says Florida became number one because of its “super-tax-friendly status and minimal small business regulations.
Some of the data compiled by Credit Review that gave Florida the top ranking looked at the suitability for small businesses, including unemployment rates, GDP per capita, new business creation, business tax climate, and population growth.
Credit Review said several of the cities showed a good talent pool of workers, and the tax structure was less onerous for small businesses and their tax burdens.
Healthcare has been a booming business for the state. Census data shows Florida has the second-largest percentage of residents over 65. Credit Review say this makes the state a prime destination for healthcare entrepreneurs.
The report lists North Port-Sarasota-Bradenton as the top area for Healthcare and Social Assistance. Four major hospitals, including one (Sarasota Memorial Hospital) that has been ranked one of the best in the nation reside in Sarasota County.
Some economic analysts are not surprised by this report ranking Florida as a top haven for small business. Over the last few years, Miami has been called the Wall Street of the South luring many financial firms to move there because of the business climate.
Gov. DeSantis gets praised by small business groups like the Florida Chamber of Commerce and the National Federation of Independent Business for keeping the state opened for the most part during covid and creating a economic incentives with tort reform and deregulation some of the industries in the state.
Author
