8/13/2019 Why is South Florida a Great Place to Start a
Business
1/2
Why is South Florida a Great Place to Start a Business?
South Florida is an exceptional part of Florida. Why? Well, it
is the only part of continentalAmerica that has a tropical climate.
Though this article focuses not on its lissful eaches ut on
!hy it is a great place to start a usiness. Why do so many
dynamic entrepreneurs see South
Florida as the place !here their usiness can flourish?
A friendly tax manFlorida collects no state income tax " South
Florida, #entral Florida and $orth Florida all enefit
from this policy that ma%es the sunshine state an attracti&e
place for indi&iduals and companies.Add to this that the
Florida corporate rate tax is currently set at '.' ( " at the lo!
end of the
American scale " and you ha&e a fertile en&ironment.
Regulations are relatively friendlyBusinesses operating in the
northern parts of the )nited States li%e $e! *or%, Boston and
#onnecticut ha&e to follo! more regulations than their
corporate cousins in South Florida. #osts
attached to follo!ing rigid regulations can e high+ usiness
startups !ant to plough their capitalinto setup and de&elopment
costs, not regulatory costs.
Topnotch public schools$o company exists in a &acuum+ it is
part of a larger community. South Florida offers a solidpulic
school system that is continually !ell funded. $ot only is this an
important feature for
families of usiness o!ners ut it indicates the high uality of
employees that are a&ailale for
hire in South Florida.
Fiscally strongThe state of Florida oasts a stale financial
status that forms a strong ase on !hich a small or
large usiness can stand. The udget is cleanly alanced, the state
holds no det and its ondrating is stale and strong. The &alue
of homes is rising in South Florida, e&en as they remain
static in many poc%ets of America.
The Lab MiamiSouth Florida offers outstanding resources for
usiness people !ho ha&e set up a usiness or are
thin%ing aout doing so. The -a iami, for example, has een set up
to !or% !ithentrepreneurs and the usiness community to help them
ma%e South Florida !or% for their
usiness. That such an impressi&e resource exists in iami
spea%s to the focused efforts of South
Florida to attract and nurture strong usinesses.
NetworkingBusinesses flourish through net!or%ing !ithin their
larger community/ South Florida offers
outstanding institutions through !hich important interactions
ta%e place, li%e the Greater iami
#hamer of #ommerce and the Beacon #ouncil.
The big pictureSouth Florida can e said to ha&e it all, !hen
it comes to the conditions that are %no!n to epositi&e for
setting up a usiness that ma%es it. Tax policies, solid
institutional support for
