Is Florida a good place to start a business? This list ranks it high. Here's why
There’s a reason why communities rally to support local businesses. It’s because starting a business (and keeping it running) is really hard, even without high inflation rates and labor shortages.
Under normal circumstances, almost half of the startups in the U.S. are not likely to make it five years. And one fifth of all startups close their doors after the first year of business, according to data from the U.S. Bureau of Labor Statistics, reported by WalletHub.
And last year brought sky-high inflation rates for Floridians, so it might be surprising that Florida ranked in WalletHub’s top three best states for starting a business in 2024.
Here’s where Florida ranked on WalletHub’s list of the best states for opening a business this year and why.