Sunshine and Entrepreneurship

//Sunshine and Entrepreneurship

Sunshine and Entrepreneurship

For those entrepreneurs starting businesses in the Sunshine State – here’s some good news.  According to Fast Company, Florida was recently ranked as having the second-highest rate of new business production in the nation.  It ranks high on Fundable’s VC rankings, and Startup America says it’s the No. 3 state for annual revenue per start up, with $1.2 million.  Additional factors that make Florida a great place for start-ups, new businesses and entrepreneurs include:

  • Enterprising Traditions: For years, Florida has been recognized as an excellent location for young businesses; most recently, it placed in the top 5 for entrepreneurial activity and economic dynamism in the Kaufmann Foundation’s New Economy States rankings. The Small Business Council consistently ranks Florida as one of the leading states for favorable policy environment towards entrepreneurs and small businesses.
  • Supportive Ecosystem: A strong culture of entrepreneurship is planted deep into the Florida business landscape and nurtured with a number of targeted initiatives designed to bolster small business growth. Several Florida universities maintain nationally acclaimed programs devoted to entrepreneurship.  A number of other valuable resources are available to entrepreneurs throughout Florida, including high tech incubators, small business development centers (SBDCs) and other professional organizations and peer networks supporting entrepreneurs.
  • Entrepreneurial Environment: Florida’s entrepreneurial environment also allows technology professionals to advance R&D efforts from the lab to the marketplace by offering robust R&D infrastructure and strong commercialization networks, as well as a growing, qualified talent pool that can take basic research from concept to commercialization.
  • Top Talent:  Florida’s colleges and universities are among the nation’s top performers of research & development (R&D) and commercialization of technologies. Last year, Florida universities performed more than $1.85 billion in sponsored research, working closely with industry to create cutting-edge technologies.  Beyond Florida’s own substantial market opportunities, the state also serves as a springboard for trade and investment throughout the Americas and the world.
  • Big Numbers: Florida is one of the largest states in the U.S. in terms of population, personal income, and other statewide indicators. Florida’s total personal income ranks 1st in the Southeast.  In addition, Florida welcomes some 90 million visitors from around the world who come to experience Florida’s famous tourist attractions, representing another substantial market for businesses located in the state.

It just goes to show: lots o’ sunshine supplies not only plenty of Vitamin D, but also “E” – that is, Entrepreneurship.

By |2013-05-10T23:42:32-04:00April 22nd, 2013|Strategy|2 Comments

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  1. Deborah Whitehouse April 26, 2013 at 5:07 pm - Reply

    Great article! I agree our state is an excellent place for start ups! We not only have sunshine, but now we have much more “infrastructure” as you list here, from which businesses can rely upon for support. You also listed some fabulous tips and statistics. As a long, long term resident of our state, I became aware of our economy when oranges, cattle and tourism were the only game in town. Labeled ‘the big 3’, they certainly left the small business owner without much of that famous sunshine, in the way of resources.

    We have truly come a long, long way. Hard to believe we have an entrepreneurial environment coming from that limited palette, but thankfully, now we do! Just look at the huge win with Palm Beach County’s prestigious Scripps Research Institute and Facility. That bid was initially facilitated by the state of Florida and since then many small and high tech companies have grown to service this new client/market. This is a great example of how our state and the supporting ‘infrastructure’ you mention, is really a great place to start a business.

    I do want to point out another resource that I am familiar with. During Governor Bush’s administration, the state of Florida expanded it’s resources to create the Office of Economic Development. Prior to this time, economic and small business development functions existed in state government in various agencies, but they were ad hoc. Further, it was not very well supported with budget or legislation until this Governor, a keen business man himself, initiated it. It has now morphed to include several helpful Divisions to the state’s entrepreneurs. There are community and market statistics available and the Division of Strategic Development has up to date information and events to attend. Their mission: “The Division of Strategic Business Development provides support for attracting out-of-state businesses to Florida, promoting the creation and expansion of Florida businesses and facilitating Florida’s economic development partnerships”, says it all.

    Here’s the web address: http://www.floridajobs.org/. The name on the address is misleading in serving only jobseekers; it doesn’t. To be government efficient, this Department wears many hats and there’s a lot going on in the site and on the streets! I recommend you click on the “Offices” tab to find the Different Divisions.

    The state has a lot to offer that’s free as part of your taxpayer benefits. I encourage all entrepreneurs to find out what’s out there for little or no costs when starting up, so you have more resources to grow your business.

    Thanks for a great article!

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