Florida ranks top in nation for starting a small business

The results of a report from Lendio, a company that helps small businesses connect with loan vendors, are in, and Florida is basking in the glory of being ranked the No. 1 state for small businesses.

According to the report, “Florida is the best state to start a business due to a low corporate tax rate (5.5%) and the mass migration of consumers and companies to the state. The Sunshine State sees more than half of its startup businesses survive for at least five years. It’s also a top recipient of SBA loan dollars (12th compared to other states) and ranked 2nd for the number of loan offers facilitated through Lendio’s marketplace.”

In 2023 Florida ranked No. 2 behind Texas. Now Texas is No. 2 with North Carolina following up in third place.