A report by online business platform site coworking café, finds that Miami and several others Florida cities rank at the top of some of the hottest areas to start a new business
Small businesses are classified as those with fewer than 500 employees.
The report gauged which places are best primed for a strong homegrown business environment.
Miami, FL Miami is the best metro area for small operations, offering the right environment for entrepreneurship that has benefited from a post-pandemic economic surge.
With more than 4,000 businesses per 100,000 residents — more than three times the national average — the South Florida metro comes first among large metros for business formation. Miami also has more than 23,000 businesses per 100,000 residents for the highest business density among metro areas in its class.
With such a strong business environment, Miami’s economy is dominated by community ventures that claim more than half of the employment — the highest rate among large metros — with a whopping 89% survival rate. Moreover, self-employment in Miami also ranks highest among large metros at 15.7%.
Some of the other top Florida cities that saw high marks nationwide were Sarasota.
This town has one of the densest concentrations of local business activity anywhere in the country. There are about 13,400 homegrown businesses per 100,000 residents, accounting for close to 60% of total employment — the highest share in this ranking.
Additionally, self-employment accounts for 15.6%, indicating a workforce heavily oriented toward independent and entrepreneurial work. GDP also grew 42.6% from 2019 to 2023 in one of the strongest growth rates in the group.
Otherwise, unemployment holds at 2.6%, and new business applications come in at more than 2,100 per 100,000 annually.
Cape Coral-Fort Myers, FL
Cape Coral-Fort Myers closes out the ranking for small entrepreneurs with a high GDP growth of 45% in the clearest sign that this corner of southwest Florida has undergone a genuine economic transformation since 2019. In this case, the metro’s rapid population growth has driven a proportional surge in business activity: About 13,700 people locally run ventures per 100,000 residents, accounting for 56% of total employment. New business applications are also impressive, running at 2,300 per 100,000 annually.
Lee county is seeing positive results. The report says Lee is seeing an increase in self-employment at 14% among construction, light industrial and professional services sectors.
Port St. Lucie — is expanding its community-based business footprint supported by rapid population growth as well.
