IMPACT

Why Florida is a hot bed for investing right now

 

Florida is the third largest state in the US boasting a diverse economic landscape in arts and entertainment, top universities, growing entrepreneurship, a thriving real estate market and a top tourist destination. Florida attracts some of the wealthiest and most successful thought leaders in the US from all over the world with an interest in making an impact in retirement by investing and mentoring. They bring their unique experience and resources to the next generation of innovators.

While Florida is known for being a top tourist and retiree destination, it comes as a surprise to most people that it is also an exceedingly entrepreneur-friendly state. According to a Small Business & Entrepreneurship Council report, Florida is the fifth best state to start a business. The ranking is based on small business-related taxes, regulatory environment and government spending.

Other reports cite the growing rise of angel funds, incubators, top universities, low cost of living and, of course, the weather. And the data just keeps getting better. Inc.com reported that 340 of its 2018 Inc. 5000 list of fastest growing private companies are located in Florida.

Perhaps more surprising to most people is that according to a 2017 Statista report, Florida ranks 7th in Venture Capital investing, behind the usual suspects: California, New York, Massachusetts, Illinois, Texas and Washington.

The outlook is also promising for young entrepreneurs, especially in the Sarasota-Manatee region. According to MoneyRates.com, they topped the list in 2017 as the best city in Florida to start their own business ventures. The ratings scored high population growth rates, education attainment, young adult affluence and the business tax environment.

What may help Sarasota-Manatee stay at that top ranking is the prevalence of successful business executives, entrepreneurs and investors who have chosen to retire here. Scores of them lend their vast experience to mentor startups and college-age students to set them on their own paths to success.

All-in-all Florida is one hotbed of innovation!