6 Reasons Miami, Florida Is The Best Place For Your Small Business
In the steps of starting a small business, choosing the right location to house and expand your company is one of the first and most important decisions you should make. Choosing the wrong place to start your business can be detrimental to your success. The right location should have a stable and growing economy, reflect your business style, and offer diverse customer demographics. In a global context, according to the statistics at startupranking, the United States of America is by far the number 1 place in the world to create a startup business. Already have a business overseas? Check out What Can Your Company Achieve By Expanding To The United States?
But the United States is a very large country with dozens of populous and successful places to start a business; how do you choose? Let’s ask the pro’s: The 2017 Kauffman Index of Startup Activity shows that the city of Miami, Florida currently holds the number 1 ranking when it comes to startup launching.
In recent years Miami has become the epicenter of international business. Its booming economy, impressive infrastructure, and diverse population make it a prime location to launch a successful business. It’s important to say that an increasing amount of businesses are migrating to Miami in order to be a part of the biggest startup scene in the world. So what makes Miami so special?
6 Reasons Miami, Florida Is The Best Place For Your Business
1 – Tax Advantages
The state of Florida has created a thriving business climate by offering one of the most business-friendly tax structures in the country. According to BeaconCouncil, low corporate income taxes, a modest 6% sales tax, and no state income taxes combine to make Miami one of the best metropolitan areas in the country for small and startup businesses. Starting your business in Miami means you get to keep more of your hand-earned dollars.
2 – Diverse Demographics
Miami attracts businesses and individuals from all across the globe due to its booming economy and low cost of living. This results in a culture that is diverse, plentiful, and business-minded, which creates a strong local customer base for your business. But its not only the locals – Miami is a mecca for tourism, which brings in hundreds of thousands of customers in vacation mode who are ready to empty their wallets every year. By offering a wide range of available markets, Miami’s population guarantees a large pool of potential customers to which you can market your services.
3 – Global Connectivity
Miami is in a key position for businesses that operate internationally. Due to its central location and convenient international airports, Miami is a key exporter of U.S. Goods. Additionally, much of that traffic stems from small businesses – according to sba.gov, over 95% of Florida’s 2017 exports were done by small firms. Through its southern location and international culture, Miami also boasts one of the best opportunities for business expansion into South America.
Miami is home to thousands of international business headquarters who are taking advantage of its strategic location and bustling economy to expand their companies around the globe. This means the infrastructure and resources available to you are already primed for international business. Plus, you’ll have access to successful international business leaders who can guide you in the best ways to expand to the global market.
4 – Innovative Business Solutions
Miami is on the forefront of business innovation. As business experts have come together to make Miami better for their companies, they have created an environment that supports forward-thinking and revolutionary ideas. One of the biggest areas of change in Miami is an abundance of creative commercial real estate options. As an example, Miami is home to many digital office solutions such as virtual offices or coworking spaces – Starthub is proud to be one of the best providers of virtual office solutions in Miami. By choosing Miami you’ll get access to the best new business trends in the industry (before the others do!).
5 – Local Resources
Miami has a myriad of organizations that have helped local entrepreneurs to stay afloat over the years. Government institutions such as the MBDA business center, local organizations such as the CAMACOL, a handful of public and private Universities, and various loaning programs give small businesses free conferences, counseling, partnerships, and various other types of support.
6 – Tropical Lifestyle
The balmy weather and island lifestyle of Miami could be disregarded as unrelated, but these characteristics have played a large role in helping businesses grow. Talented minds from all over the world have converged on Miami to live in a beachy paradise, which gives your business a strong, multicultural group of potential employees to help grow your ideas. Remember those great virtual office solutions that Starthub can offer your business? They’ll allow you to join the fun by giving you a flexible working space and a premium downtown Miami / Brickell business address, so you can stop in at the beach anytime (or even work there!). Plus, happy customers are productive customers, and very few people can be unhappy in Miami’s laid-back atmosphere.
How Do You Set-Up A Miami Business Address in Minutes, At (almost) No Costs?
Now that you’ve chosen Miami as the location of your new business, how do you get there? The costs to relocate your business and your family can be staggering, especially to a startup or small business. Moving expenses, real estate purchases, and administrative costs can put your business in debt before you even begin! Luckily, at Starthub, we provide a solution that lets you take full advantage of Miami’s benefits while keeping your business costs virtually non-existent: the virtual office. Our services will give you a prestigious business address in Miami – and all of the perks that come with it – without requiring that you ever leave your home. It’s like having your cake and eating it, too! For several other ways that our products can benefit your small business, check out How Can A Virtual Office Help Your Small Business?