The Future of Florida’s Business Landscape: Trends and Predictions from Sunbelt Business Brokers
If you’re considering selling your business or buying one, timing is important. Fortunately, the Florida business world doesn’t look like it’ll be slowing down any time soon.
At Sunbelt Business Brokers, we’ve been monitoring trends in the Florida business world for years. Here’s what we see on the horizon.
What Makes Florida Business Different?
The future looks especially sunny for Sunshine State business owners and investors. Whether you’re looking at buying or selling a business in the near future, Florida offers unparalleled advantages:
Unique Population Dynamics and a Vibrant Sales Landscape
Florida is the state with the third largest population in the US. So if you build or purchase a business (and even a niche business), you shouldn’t have a problem finding the right clientele.
Florida also has a healthy supply of businesses for sale all year. Why? As business owners age, they start looking forward to retiring so they can spend time on sunny beaches or just relax with family.
Some choose to hand their businesses off to the next generation. Others opt to put their businesses on the market. Businesses are often sold multiple times, making Florida a land of constant opportunity.
Tax Advantages and Investment Capital
Florida is popular with venture capitalists and angel investors. If your business or startup needs funding, it may be easier to get here.
Florida is also especially tax-friendly for businesses. Corporations do have to pay an income tax of 5.5%, but if you have an LLC, an S corporation, or a sole proprietorship, you won’t have to pay income tax.
As a side note, you don’t have to pay state income tax if you live here. If you move to Florida and purchase a business, you may find that you actually save money when it comes to both business and personal finances.
Some people are concerned about Florida’s high cost of living. That’s certainly understandable. But if you take some time and crunch the numbers, you will more than likely find that tax and investment opportunities make up for that cost. Also, compared to other bustling business markets, Florida’s cost of living is relatively low.
Statewide Multiple Listing Service (MLS)
If you’ve ever tried selling your business in another state (or buying one in another state), you may have found that different businesses are sold by different brokers. With no centralized place to view them all, the whole process gets frustrating.
Florida has found a way to solve that particular problem. It is the only state with a statewide multiple listing service (MLS), called Business Brokers of Florida (BBF). Multiple listing services take all listings of businesses for sale and put them in one place.
Why is that important? With an MLS, everyone wins:
- Small brokers can compete with larger brokers, as every broker is equal on the platform
- Sellers can rest assured that as many people as possible can see their listings
- Buyers get to see all businesses for sale, so they feel secure in their choice of a purchase
Not everyone knows about Business Brokers of Florida, but when you harness its power, you’ll see why it makes such a major difference.
Considering Selling Your Business?
Maybe you’re a business owner looking to cash in on years of hard work. Or maybe you’re a buyer who dreams of acquiring an established business and taking it to the next level.
Either way, Sunbelt Business Brokers is here for you. We have years of experience helping owners of small and medium businesses connect with buyers.
If you think you might be ready to sell, check out our free business valuation calculator and reach out to us today!