The Sunshine State has become a top choice for businesses due to its low corporate tax rates and high number of investors, making it attractive for entrepreneurs. Among the cities in Florida, Orlando stands out as the most attractive market for new businesses. A report from WalletHub shows that the city has a high percentage of small businesses that have survived and thrived, thanks to greater opportunities to obtain funding.
One of the key factors driving business growth in Orlando is its high number of investors per capita. This provides new businesses with the resources they need to succeed and grow. Additionally, Orlando has one of the highest growth rates for the working-age population, ensuring that businesses have access to a potential pool of talented employees.
Tampa also ranks high as a favorable city for starting a business due to its low corporate tax rate and entrepreneurial activity index. The city has a large number of startups with a high survival rate, making it an attractive location for businesses looking to establish themselves and thrive.
Other cities that rank high for starting a business include Charlotte, Jacksonville, Miami, Atlanta, Fort Worth, Austin, Durham, and St. Petersburg. Despite the challenges faced by business owners in recent years, such as the COVID-19 pandemic and high inflation, these cities are best positioned to overcome these obstacles and continue to grow and succeed.