Miami has been named the fifth of the fastest growing cities for small businesses according to the online-lending platform Biz2Credit. Orlando ranked 12th, and Jacksonville was also in the top 25.
The city rankings were based on average annual revenue, average number of employees, average age of business, highest average credit score, and local sales tax rates. Large numbers of immigrant investors were named as a driver for small business growth.
Things that listed negative on the survey were high cost of living and high-tax rates, which is why New York did not do so well in the listings. The survey analyzed 15,000 businesses across the country that employed less than 250 employees and had an annual revenue of less than $10 million dollars.
If you need help incorporating your small business, need a registered agent for your business, or need help with business litigation or preventative planning, contact Boyer Law Firm’s business law attorneys today. We have offices in Jacksonville, Orlando, and Miami, all of which are among the fastest growing cities for small businesses.
Source: Jacksonville Business Journal