DOWNTOWN TALLAHASSEE, Fla. (WTXL) — A report from WalletHub ranks Florida as the best state to start a small business. The Director of the Small Business Development Center at Florida A&M University Tangela Lofton says that impact has been felt in the Big Bend.
- The WalletHub report says the state has the “third-most startups per capita and the highest percentage of adults who engage in entrepreneurship.”
- The Florida Small Business Development Center Network says more than 3.5 million small businesses are currently operating in Florida while the SBDC at Florida A&M University has consulted 571 existing and aspiring business owners in the Big Bend alone in 2024.
- Watch the video below to hear from small business owners about this rank and why they settled in the Sunshine State.
BROADCAST TRANSCRIPT:
One of the best places to start a small business is here in Florida. I’m Brieanna Smith in the Downtown Tallahassee neighborhood. I learned why the Sunshine State earned the title and what it means for neighbors in the Big Bend.
A new report from personal finance company, WalletHub, ranks Florida as the best state to start a small business, citing a growing working population, increasing number of startups, and the state’s corporate tax rate.
For Brittney Jones, settling in Tallahassee was a no-brainer when she wanted to start her event planning firm Touched by a Rose, now in operation for 13 years.
“During legislative season, it is so busy, especially for a lot of small business owners, and then during the school year there are so many different things to do with our universities and then just our community in general,” she said.
Jones isn’t alone.
The Florida Small Business Development Center Network says more than 3.5 million small businesses are currently operating in Florida.
Director of the center at Florida A&M University, Tangela Lofton, tells me they helped develop 12 new businesses across the Big Bend in 2024, and that year, they generated about $40 million in sales from small businesses alone.
“We are full of energy, entrepreneurial energy, we say, and the ecosystem that Florida has created or curated has definitely contributed to the success and success and impact of small businesses,” Lofton said.
Though ownership doesn’t come without challenges —
“Most small businesses they look wonderful from the outside, but they're just one incident away from being able to not be able to stay open,” Lofton said.
“Sometimes you could be getting calls every single day,” Jones said. “Then, there could be a two-week period where you don't get a call.”
Those struggles can be seen with favorites like Leon’s at Lake Ella.
The restaurant's owner said he needed to close due to repair costs and profitability.
Tally Fish House and Oyster Bar also closed its doors Tuesday due to long-distance military move, according to a Facebook post.
But whether the challenges are financial or personal, Jones is encouraging neighbors to take it day by day.
“Don't overwhelm yourself, do things one at a time, and then if you pace yourself out, here's your business,” she said.
The SBDC wants to see more success stories like this since its goals are to increase the number of small businesses they assist through business development programs like the F.A.N.G. Incubator.
Registration is currently closed for its January cohort.
In Downtown Tallahassee, Brieanna Smith, ABC 27.
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