Business investments in Florida are, really, nothing new. The state has had a business-friendly policy for years now. And yet, new businesses sprout every day, however, most of them will face insolvency or shut down. When conducting business investments in Florida, one must think rationally and strategically, by using every possible advantage out there. So, how does one even do that in an environment such as Florida? By picking the right industry and the right location, of course. That’s why you’ll need one of your reliable moving companies Miami Beach. Let’s start with the basics.
When doing business investments in Florida, aim for the lowest taxes possible
Doesn’t matter if you’re a startup or a well-established company from another location. The truth is, either way, you have new grounds to conquer. The market, which consists of the consumers and other companies, will react to your presence, and you’ll need every cent to adapt to the increasingly harsh demands of the market. If you’re producing something, you’ll need to streamline the production. If you’re providing certain services, each customer has to be more satisfied than the last. It’s a raw deal, really.
This is why you’ll need every single penny to develop and grow your business. This is why you want to hit as many tax breaks as possible. For example, the general sales tax (applies statewide) is 6%. However, some counties have an additional surtax. The surtax is highest in Monroe County, with an additional surtax of 1.5%. However, it’s lowest in the Alachua County (0.25%).
Let’s review some of the popular industries for investment in Florida
Alright, there’s much to be talked about here. The general truth is that almost any industry will do. I say “almost”, because you cannot, for example, start a car manufacturing company. You will get devoured by titans like Ford and Toyota. You cannot start an aviation industry, because Lockheed Martin and Boeing have entrenched themselves, and the market entry is too high for an average person. That’s why you’ll want your startup to be as low-cost as possible. What are these industries? Well, it depends on your own skill and the skills of the people around you.
IT has always been a popular sector, most notably due to massive demand. You can organize your startup around this demand. This usually means starting a so-called “lean” startup. You usually want to focus on a general service – you either have to do it first, or you have to do it best. Both are incredibly difficult to do. This especially applies to the IT sector, where there is a large number of IT companies.
Law, finance, and accounting
This is where the well of demand never dries up. Lawyers, financial advisers, and accountants are never in short demand – only short supply. We’ve already mentioned that the state government in Florida has, for a while now, had a business-friendly stance. This means that lots of businesses will grow, but they will also need services which pertain to their finances and legal matters.
Now, this takes quite some cash to begin a startup insurance company. Florida is known for occasional environmental disasters, such as floods and hurricanes. Florida is also known for heavy precipitation. These are all desireable conditions for the growth of insurance companies. A large number of people in Florida aren’t quite satisfied with their insurance policies. Your company could be the one to satisfy popular demand, by giving the customers a more desirable offer.
“Okay, so, what are the other opportunities in Florida?”
Well, let’s start off by saying that in 2018, Florida’s economy has hit the $1 trillion mark of total GDP. If Florida were a separate country, it would be the world’s 17th economically most powerful nation, above giants such as Netherlands, Belgium, and Saudi Arabia. This means that there’s a lot of industrial and agricultural production going on in here. Let’s check some of the industrial and agricultural activities that make for sound business investments in Florida:
Yes, the market entry may be a bit high. You’re going to need a boat and a dedicated crew, but the profits will always be there. Food is a consumable, and it’s always in constant demand. Fishing as an industry in a country which has a lot of coasts ensures that there’s going to be a constant supply chain for your wares, and a constant demand for the wares themselves.
The moving industry
Of course, this applies to the storage industry too. Economists have noted that every big corporation has a set of smaller partner firms from which they get their sorely needed services. Of course, you cannot hope to be as big as one of those corporate giants, however, you can always hope for a lucrative partnership deal somewhere down the line. One of such examples is the moving industry. If, for example, a manufacturing plant needs reliable movers for the distribution of its products, you can always offer your services if you’re in the moving or storage industry.
Agriculture isn’t as prominent in Florida as other economic activities are, however, it still plays an important part, especially in the daily lives of Florida residents. The level of financial investment isn’t high, but, on the downside, no one can guarantee the results – the unstable weather can easily destroy the crops if you aren’t careful. However, the prices are stable, and you will be able to sell your products at a very desirable price.
No, these aren’t all the smart business investments in Florida
Indeed, there are countless more, but you can only name so much. New opportunities appear every day. So, if you have an idea, pack your stuff and call your commercial movers Florida and you’ll be in business in no time!