Florida Ranks 6th in Entrepreneurship

Florida is among one of the top ten states for Entrepreneurship.  Read more about the breakdown:

The Orlando Business Journal

December 1st, 2009

Florida is among the top 10 most entrepreneur-friendly states, according to the Small Business & Entrepreneurship Council’s 14th annual rankings.

Among the factors measured by the index: taxes, regulatory costs, government spending, property rights, health care and energy costs.

Florida ranked sixth in the study, after South Dakota, Nevada, Texas, Wyoming and Washington. The rest of the top 10 included South Carolina, Colorado, Alabama and Virginia.

Click here to see the original article.

The bottom five on this year’s rankings included Vermont, New York, California, New Jersey and the District of Columbia.

“Policy matters,” said SBE Council chief economist Raymond Keating, author of the study. “The index gets at the public policy costs and trends that affect — directly or indirectly — entrepreneurship and small businesses. If we want to get our economy back on a solid, robust growth track, then we need pro-entrepreneur policies at the federal, state and local levels.”

Among Florida’s best scores:

• A tie for No. 1 on best top personal income tax rates

• A tie for No. 1 on best individual capital gains tax rates

• No. 4 on adjusted unemployment taxes

Among the worst scores:

• No. 43 on sales, gross receipts and excise taxes as a share of personal income

• No. 49 on crime rate

The metro Orlando region, which has consistently ranked high for its entrepreneurial business climate, is slated to get additional help from the Florida Economic Gardening Institute.

The Orlando-based institute’s new GrowFL program will focus on helping hundreds of businesses around the state expand.

So-called second-stage companies — businesses with 10 to 50 employees and $1 million to $25 million in revenue — would receive technical assistance and information in a variety of areas at no cost.

The institute estimates that 8 percent of businesses statewide fit the profile.

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