Here’s Where Florida Ranks in Top States to Start a Business.
Have you heard the news? Florida has officially been named the second best state in the nation to start a business. That’s right, second only to Utah. But, let’s be real, who wants to start a business in Utah? Cold weather, skiing, and not nearly enough beaches.
But seriously, according to WalletHub, Florida boasts the best business environment in the nation, followed closely by California. This news is especially impressive given the current economic climate. With the fallout of the COVID-19 pandemic and rising costs due to inflation, starting a business has been a daunting task for many. But, Floridians are a resilient bunch and we’re not afraid of a little (or a lot) of adversity.
WalletHub looked at 27 different metrics in three main areas: business environment, access to resources, and business costs. They then calculated a score of zero to 100, with 100 being the most favorable conditions for starting a business. Florida scored a 59.21 out of 100, just behind Utah’s 59.91. But, let’s focus on the positive, we beat out Texas, Colorado, and Idaho.
But, it’s not just starting a business that Florida excels at. WalletHub also found that in terms of average growth in the number of small businesses, Florida ranked fourth in the nation. So, whether you’re just starting out or looking to expand, Florida is the place to be.
So, to all the Floridian entrepreneurs and small business owners out there, keep up the good work. And to those considering starting a business, what are you waiting for? The sunshine state is calling your name.