Experts from WalletHub, a platform devoted to personal finance, considered 27 indicators across three categories, i.e., business environment (population, demographics), availability of resources (including bank financing), and business expenses (affordability of office premises, etc.). After that, the total score was calculated.
Florida ranked second in this list after Utah (59.91 points), slightly above California, and considerably above such popular destinations as Texas, Colorado, and Idaho.
The Sunshine State received 59.21 points out of 100. Florida was also the fourth across the USA by the average growth of the number of small businesses, which also has a favorable impact on the business climate in general. The cost of labor resources in this state was the 14th nationwide, availability of human capital, 21st, the average work week duration, 23rd, and the cost of living, 25th.
Florida is apparently a great choice for both startups and long-established companies that are looking for places in which to open new offices within geographic expansion.
This news looks particularly promising for investors against the background of the current economic situation in the USA, as the country has not yet fully recovered from the COVID-19 pandemic, while prices of many goods and services are growing because of inflation. Over the next few years, the demand for residential and commercial properties in Florida will probably remain high.