Florida ranks among the strongest states for small businesses; here's why

Posted on August 6, 2018

Across the country, business is booming — and Florida is leading the way. The Sunshine State is ranked the third-strongest state in the country for small businesses, according to a new study from Value Penguin.

One of the reasons Florida is such a great place for small business is the percentage of the state’s total exports that small businesses account for. According to the study, 69 percent of Florida’s exports originate from a small business. This is the second-highest percentage in the nation, behind only Montana’s 71 percent.

Along with Florida’s small businesses accounting for a high amount of exports, the state is seeing more businesses open rather than shut down. Florida’s small business birth rate is currently 118 percent. This means there are 18 percent more businesses setting up shop compared to closing down, according to the study. When compared to the rest of the country, Florida’s small business birth rate is ranked at No. 11.

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