Are you living in a state that lends itself to small business growth? Well, if you happen to live in Florida, you’re in the best small business spot possible, according to a recent study by Bizjournals. According to the study, four of America’s five best markets for small businesses are in Florida, led by No. 1 Orlando. This information was reported in an article by G. Scott Thomas and published on www.bizjournals.com. According to the article, Florida's top-rated markets are scattered throughout the state. Orlando is the economic hub of central Florida, No. 2 Sarasota-Bradenton overlooks the Gulf of Mexico, No. 3 Miami-Fort Lauderdale is a gateway to the Caribbean, and No. 5 Jacksonville hugs the Atlantic coast 350 miles north of Miami.
Acording to Tomas, these four markets, despite their diverse locations, share several attributes. Each has experienced rapid growth since 2000 in population, employment and the number of small businesses. Bizjournals used a 12-part formula to rate small-business vitality in the nation's 75 largest metropolitan areas. The 75 markets, taken as a group, had 179 million residents as of mid-2005, accounting for 60 percent of the nation's total population. They also included 4.5 million small businesses, a number that rose by 7 percent between 2000 and 2005. The study's objective was to identify those metros that are most conducive to the creation and development of small businesses. The highest scores went to areas that have prosperous economies, are expanding rapidly, and are densely packed with small businesses. (Bizjournals defines a small business as any private-sector employer with 99 or fewer employees.) Orlando's broad record of economic strength vaults it to the top of the standings. It's the only market to rank among the 10 national leaders for population growth, small-business creation, and small-business concentration. The latter category compares each market's number of small businesses with its population. Orlando's ratio of 2,821 small businesses per 100,000 residents is 16 percent better than the study group's average of 2,439 per 100,000. "Orlando is going full speed ahead," says Vitner. "Most people think of it as Disney World and Mickey Mouse, but it's much more than tourism. It has a tremendously diverse base of industries -- high-tech, software development, defense, benefits administration, video-game manufacturing." For more information on this topic, visit www.bizjournals.com.
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