Florida, known as the Sunshine State, is a highly appealing destination for businesses due to its low corporate tax rates and abundance of investors. Orlando stands out as particularly attractive, with its rapid growth in small businesses and high survival rate among new enterprises.
New businesses in Orlando have access to ample funding opportunities thanks to the city’s high number of investors per capita. Additionally, the city’s growing population provides businesses with a pool of potential employees. This combination makes it an ideal location for entrepreneurs looking to start a business.
Tampa also ranks highly as the second-best city for starting a business, thanks to its low corporate tax rate and abundance of investors. This provides businesses with more resources to navigate the challenging initial years of establishment. The city also boasts a large number of startups with a high survival rate on the Entrepreneurial Activity Index.
Charlotte ranks third on this list, offering a diverse range of industries and some of the lowest corporate taxes in the nation. This encourages companies to reinvest more of their capital, which can be critical during times of economic uncertainty such as those posed by COVID-19, the Great Resignation, and high inflation.
The top 10 cities for starting a business also include Jacksonville, Miami, Atlanta, Fort Worth, Austin, Durham and St. Petersburg. Despite these challenges, these cities are well-positioned to overcome them and continue fostering an environment that is favorable for businesses.
In summary, Florida is becoming increasingly popular among businesses due to its low corporate tax rates and availability of investors. Orlando stands out as particularly attractive due to its rapid growth in small businesses and large pool of potential employees while Tampa follows closely behind due to its low corporate tax rate and abundance of investors.
These cities offer unique benefits that make them well-suited for entrepreneurs looking to start a business during challenging times such as those posed by COVID-19 pandemic or Great Resignation era or high inflation era.
