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.