Starting your own business is always challenging, so it makes sense to carefully consider all parameters before deciding in which city to open a company. The financial website WalletHub compiled a ranking of the best US places for startups based on indicators such as average business costs and availability of various resources.
As a result, Orlando, Florida, leads the ranking for 2023. This city has close ties with The Walt Disney Company, one of the world’s largest corporations. It is followed by Jacksonville, Miami, and Tampa. The last city in the top 5 best locations for startups is Durham, North Carolina.
The great number of Floridian cities in the top of this ranking is caused by the low unemployment in this state and relatively low corporate tax rates. For the same reasons, Florida was No. 11 in the ranking of the best US states for doing business in 2022 compiled by the CNBC news platform.
Corporations seem to be feeling great in Florida. The local market of commercial real estate was overheated in 2022, which evidences that companies needed to rent space. Over the past years, many enterprises moved their headquarters to Florida, e.g., the computer tech startup LeverX and Citadel, the billionaire Ken Griffin’s hedge fund.
These drivers additionally boost the demand for both residential and commercial properties in the state.