Table of Contents
- 1. Florida Businesses Are Technology Driven
- 2. Florida Has a Skilled Workforce
- 3. Excellent Infrastructure
- 4. Florida Businesses Receive Community Support
- 5. Florida Businesses Have Global Connectivity
- 6. Entrepreneurial Environment
- 7. Friendly Government Policies
- 8. The Quality of Life
- 9. Easy Access to Capital
- 10. Florida Is a Tourism Environment
- Florida Is the Place to Live, Work, and Invest
The Covid-19 pandemic did render many businesses redundant, with many of them struggling to survive. The economy in several places was almost coming to a standstill. But that’s not the case everywhere as many Florida businesses have continued to thrive despite the challenges.
Yes, Florida has continued to attract many investors thanks to its friendly business environment, global connectivity, and business-friendly policies. Many people come to Florida with the aim to bathe in the sand and enjoy the beautiful sun.
But after staying for a while, they realize the beauty of doing business here and decide to invest. Many entrepreneurs attest to the fact that investing in Florida is the best decision they ever made.
But why is Florida a great place not only to live but to do business as well? Why are many businesses here thriving despite the challenges facing the entire world?
Find the answers in the top ten reasons outlined in this article.
1. Florida Businesses Are Technology Driven
Florida leads other nations when it comes to technology-driven businesses. The state has about 22,052 high tech companies boasting of up to 282,091 highly skilled workers. The AeA Cyberstates 2018 report ranked Florida 4th position among the US states high-tech employment and 3rd position for high-tech companies.
The high-tech job market in Florida is mostly concentrated in computer systems design and engineering services. It has recorded huge economic growth in Life Sciences, Clean Energy, Aviation and Aerospace, Information Technology, and Homeland Security and Defense.
If you’re into eCommerce, you’ll find it easy to find reliable website design. Tech gurus in Florida are working round the clock to ensure businesses thrive online. The tech-world keeps changing every day, but the gurus in the industry are always on the go to adapt to the new changes.
2. Florida Has a Skilled Workforce
Florida welcomes you with a skilled workforce ready to work together to see your business thrive. The genesis of the skilled workforce starts from the excellent educational institutions in the state. There are also special training programs that ensure workers come out experienced and ready.
The state boasts of 9.5 million talented and diverse workers in all sectors. They’re all ready to work around the clock to meet employer demands and produce impressive results. The state’s talent pipeline has been ranked among the best in the United States.
There’s no other way to boost the productivity of your business than to have the best workers and Florida ensures just that.
3. Excellent Infrastructure
Infrastructure has contributed a lot to economic development in Florida. The quality of infrastructure has profound effects and managed to attract the development and success of many businesses. It has played a vital role in encouraging a productive and competitive economy that has seen Florida businesses flourish.
Florida has extensive multi-modal transportation with shipping ports, international airports, rail networks, and extensive highways taking the lead. It also consists of multiple hubs that transmit high-speed data from the US to Europe.
Traders have no trouble accessing the market and reaching many customers globally. It doesn’t matter whether they choose to go the tech way or use the physical infrastructure.
4. Florida Businesses Receive Community Support
Businesses in Florida have done many positive changes in communities. One of them is ensuring the people have jobs despite hard times.
As a result, the communities have supported businesses no matter how small or large they are. The aim is to ensure everyone benefits in equal measures. Running a business in Florida is a collective responsibility of the community.
Businesses in Florida are focusing more on partnerships, creative, positive work culture, and collaborations. Everyone here is working hard to achieve success, motivate each other, and grow.
The unique support network that businesses receive has contributed to huge professional growth. The thriving of businesses here has benefited from the relationships it has been able to foster.
5. Florida Businesses Have Global Connectivity
As discussed above, Florida boasts one of the best infrastructures globally. Its transportation system ranges from the major commercial airports, railway connections, deepwater shipping ports, and major highways. All these transportation systems connect Florida to global networks and international markets.
Florida is not left behind when it comes to Internet connection either. The Network Access Point (NAP) serves as a switching station that provides internet traffic to and from Latin American. The network is also supported by other high-speed networks like Florida LambdaRail and LAGrid.
Apart from high-speed internet connectivity and best commercial transportation, Florida is also an active participant in Sister City/State programs in the US. This has also contributed to its worldwide connections and open business.
Enterprise Florida works around the clock to offer services for businesses wishing to relocate to Florida. So, if you want to expand your business to Florida, you already have huge support waiting.
6. Entrepreneurial Environment
Florida ranks as one of the nations that are friendly to entrepreneurs. The state is most efficient in fostering the birth of small businesses.
There are up to 34 Small Business Development Centers spread all over the state. The Disney Entrepreneur Center located in Orlando also plays a huge role. All these provide canceling, mentorship, and training to entrepreneurs of every level.
7. Friendly Government Policies
When running a business in Florida, it won’t be easy for you to miss new policy updates. You can find updates on all state functions on MyFlorida.com. The leaders are business-friendly and always minding the welfare of business people in the State.
One of their recent actions includes the elimination of joint and several liabilities. There are also class-action suit reform and the reduction of workers’ compensation rates. There are many business sector associations ensuring legislators are updated with issues that affect global competitiveness.
Florida ranks among the top as one of the states to do business thanks to its favorable policies. There are favorable tax structures and competitive growth, all easy fueling growth.
Thanks to its streamlined regulatory environment, the business climate here is extremely welcoming. Both small and large businesses can thrive.
8. The Quality of Life
How a business performs is also associated with the quality of life of people in a region. Well, you should rest easy knowing that Florida will never disappoint when it comes to this as well. The state is known for its great weather and favorable cultural environment.
The state features a combination of sunshine, great economic activities, and outstanding amenities. The cost of living in Florida is affordable hence it’s listed in Relocate-America’s 2018 in the top 100 places to live.
There are many recreational activities attracting tourists all over the world. A lot of people are opting to live in Florida hence doing business here won’t be hard at all. You can live, work, do business, and enjoy your life in Florida.
9. Easy Access to Capital
You know you need some sort of financing to grow and run your business successfully. That’s not a problem in Florida because there is access to more than 150 banks and large numbers of investment capitals. Angel investors and capitalists are ready to introduce you to the investment world and see your capital grow.
Florida has a very stable business environment making an investment here the best thing any entrepreneur can do. Thanks to technology, the huge walls that in the past barred access to large markets are now brought down. Florida continues to attract private investment capital, which has fueled its business growth.
10. Florida Is a Tourism Environment
One of the reasons that can do business in a particular area thrive is the huge number of tourists visiting it. When it comes to tourism, Florida is not left behind as people from all walks of life flock to this destination. They all want to enjoy the spectacular sunshine and diverse attraction points.
The flux of new faces all year round means that businesses have good opportunities to boost their sales and grow. The wintertime visits are the best seasons. Summers are also spectacular so businesses don’t have to worry about lacking clientele.
The environment is ideal for different kinds of industries. You can secure both private and government contracts here if you know how to go about it. You also get most of your sales traffic from the community members ready to see you grow.
Florida Is the Place to Live, Work, and Invest
Every day is a business day in Florida, regardless of the industry you’re in. There are many things that make Florida businesses flourish despite the hard economic times. If you’re an entrepreneur, you should never hesitate to seize the opportunity.
If you’d rather live here and enjoy life, then you’ll not get disappointed either because the sunshine is one of a kind. Summers and winters in Florida are the best. The quality of life is quite affordable, and finding work here is very easy.
Read other articles on this site for more information on how to grow your business. Don’t hesitate to talk to an expert if you need more in-depth help with your business.