Four Florida cities–Orlando, Jacksonville, Miami and Tampa, in that order, topped the personal-finance website, WalletHub‘s list of 2023’s Best Large Cities to Start a Business.
In order to determine the best cities for launching a business, WalletHub compared 100 cities, across three key dimensions:
1) Business Environment which includes Average Growth in Number of Small Businesses, Startups per Capita and Five-Year Business-Survival Rate, among others.
2) Access to Resources: This includes Financing Accessibility, Higher-Education Assets and Working-Age Population Growth, among others.
3) Business Costs. include Office-Space Affordability, Cost of Living and Corporate Taxes, among others.
In addition to the aforementioned four top cities, two other cities ranked in the top 25– St. Petersburg ranked 18 on the list and Hialeah was 22.
When asked “What is the most effective way state and local authorities can stimulate entrepreneurship and new business development?”, Professor of Management at Bryant University in Rhode Island said:
I do not think state and local governments should be trying to pick winners and losers. It is hard enough for experts in the venture capital community to identify which startups will succeed. The government is not going to do any better, and in all likelihood, they will be worse at it. What government can do instead is create the right environment that stimulates entrepreneurship in their region. That means helping create the right ecosystem, meaning that government can help connect entrepreneurs with universities, research centers, non-profits, and other institutions that are all interested in promoting startups and/or commercializing scientific and technological innovations. It can provide spaces where these people can come together to meet and share ideas. Government can also help create the right tax and regulatory environment that is helpful to innovation and entrepreneurship.
TAMPA AREA UNEMPLOYMENT RATE AT 2.6 PERCENT IN MARCH 2023
TERM LIMITS FAVORED BY 83% OF REGISTERED VOTERS: UNIVERSITY OF MARYLAND
ESG FINANCIAL MOVEMENT TAKES IT ON THE CHIN IN FLORIDA
