Tampa Is One Of The Best Cities To Start A Business In 2024
The greater Tampa Bay area is certainly a great place in the country. One of them, according to WalletHub, is that Tampa is one of the best cities in which to start a business.
“It’s especially important to live in a city that provides an environment where new businesses can thrive, with enough capital, workers and customers to keep it going long-term,” Analysts Cassandra Hope states. An important point detailed in this report as the landscape of entrepreneurship in this country has changed a bit post-pandemic.
So, to understand where people should be in order to have great chances of starting a business, 19 different metrics were studied here. They were then arranged into three categories: business environment, access to resources, and business costs.
All types of industries are applicable to this ranking. Everything from the restaurant industry to the technology industry was considered.
Overall, Florida finished as a great place to be if you are interested in starting a business.
Tampa Is One Of The Best Cities To Start A Business In 2024
In fact, Tampa finished as the number two city. Finishing just behind Orlando, Tampa’s business environment helped catapult it up to the top of the list. Rounding out the entire top 10 is St. Petersburg.
As previously stated, the Sunshine State seems to be a breeding ground for great new businesses to open their doors. Five of the top 10 cities to start a business in 2024 are here in Florida. After Tampa and Orlando, you will find Jacksonville at number four, Miami at number five, and St. Pete at 10.
WalletHub references the low corporate tax rates that allow companies to retain more of their revenue as an appealing point. They also said, “The monetary benefits of Tampa are evident in the fact that the city scores very high on the Entrepreneurial Activity Index, which indicates that there is a large number of startups in the city, and those startups have a high survival rate.”
There was only a four-point differential between Tampa’s score ranking and St. Petersburg’s. In fact, both areas were high-scoring performing metros for the overall business environment. What’s fascinating about this category is that only Austin, Texas scored better. Florida cities claimed six of the seven top spots in the entire country for business environment conditions.
In addition to Tampa and St. Pete, Jacksonville, Orlando, Miami, and Hialeah all ranked among the top seven business environment cities.
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