In 2022, for the 7th consecutive year, TaxFoundation.org ranked Florida’s tax climate No. 1 in the Southeast and No. 4 nationwide, and Chief Executive magazine named Florida the No. 2 “Best State for Business” for the 11th year in a row. And while businesses in many states were under orders to close their doors in 2020-21 due to COVID-19, not only were existing Florida businesses encouraged to remain open, brand new businesses popped up too.
In 2022, WalletHub ranked Florida No. 7 among its “10 Best U.S. States to Start a Business,” citing Orlando (No.1), Miami (No. 2), Jacksonville (No. 3) and Tampa (No. 10) as best large cities to launch in. Also cited, four “Best Small Cities to Start a Business”: Fort Myers (No. 5, up from No. 8 a year ago) and newcomers South Bradenton (No. 6), Winter Park (No. 10) and Sarasota (No. 19).
No doubt about it ... Florida is a great place to live and an even better place to do business. Won’t you join us?
Government: Florida’s government and economic development leaders work to ensure that this state remains favorable to all kinds of companies — from multinational corporations with hundreds of employees to business startups with just two or three. To that end, Florida has cut thousands of burdensome regulations across the board.
Tax Structure: Business dollars go further in Florida for two reasons: low corporate taxes and zero personal income tax. Florida’s long history of responsible spending over many years ensures a consistent record of AAA bond ratings. As a result, businesses and their employees, who pay no personal income tax on their earnings, continue to thrive.
Permitting: Regulatory agencies and local governments across Florida provide quicker, less costly and more predictable permitting processes, helping to fuel an atmosphere of certainty, predictability and efficiency from the top down.
Support: Florida business owners never have to go it alone thanks to these opportunities for collaboration: one-on-one counseling at more than 40 Small Business Development Centers; low-cost space and services at dozens of high-tech incubators, accelerators and university-based research parks; customized workforce training; and ready access to funding through venture capital companies, financial institutions and federal and state programs.
Florida's top assets