Florida’s Driving Industries

Top 10 Industries Driving Florida’s Economic Growth – Part 2

The Sunshine State has so much to offer in terms of beautiful weather, beaches, food from all over the world and amazing entertainment. It’s no wonder there is so much appeal to live in Florida, but it doesn’t stop there. Many industries are quickly picking up on the value to centralizing their ventures around Florida, but in particular; Miami, Broward and Palm Beach County. If you are looking to start a business, now is the time. We took a look at several industries that are contributing highly to Florida’s economic growth, and our list continues!

6) Transportation

People have to get around, don’t they? Surprisingly enough, tourists aren’t the only ones looking at alternatives for transportation. Many Florida residents close to the downtown areas and beaches are opting for using transportation such as Uber, Lyft or even electric scooters!

Recent reports show a climbing trend in Florida’s transportation infrastructure, especially with the top state in the nation. A continued strengthening in the economy has increased the need for multiple types of transportation services. Recent data shows a steady growth of a little over 1% in the last year.

7) Professional Services

The professional services industry is making its mark in Florida, currently accounting for over ten percent of the state’s workforce. While there is certainly expansion across the state, Orlando is the nation’s leader in new job growth, with the professional industry seeing the most jobs created—more than 13,000 last year. The steady climb that began in 2013 is still moving upwards into 2018. These jobs include lawyers,advertising professionals, architects, accountants, financial advisers, engineers, and consultants, among others.

8) Health Care

In 2018, Investopedia listed Florida as the number 1 state to retire to. With all these snow birds and retirees, along with tourists and a large amount of people coming to the Sunshine State to contribute positively to their mental health, it’s no wonder why there is such a need for healthcare professionals.

Florida’s booming healthcare industry aided the state in besting the U.S. in income growth in 2016. The industry was also the leader for state income growth at over five percent from the previous year. In 2015, the healthcare industry was responsible for over 900,000 new jobs and almost $130 billion in state revenue.

9) Technology

With all the entertainment comes all the technology. Music festivals like the annual Ultra Music Festival in Miami bring in the most wild and bold professionals of the technology world to run a sea of light and audio equipment for some of the world’s biggest artists in the EDM scene. But it doesn’t stop there, music shows, festivals and clubs are always looking to bring on professionals who can run intricate equipment and create dynamic experiences.

Florida has a rapidly expanding tech industry that has moved up to fourth place in the country in new job formations with over 12,000 new positions in 2017. Technology makes up 8% of Florida’s economy (almost $40 billion), including over $1 billion in venture funding for start-up businesses in burgeoning tech hub Miami.

10) Food Service

Oh, the food. With Florida being a well known melting pot of different cultures, people flock to South Florida to dine on a colorful array of cuisines. Higher end restaurants are constantly looking for staff to provide a tailored and professional experience to their guests, and new concepts open every day to compete for business.

Florida’s food service industry is steadily on the rebound from Hurricanes Harvey and Irma that devastated areas in the state in 2017. While citrus farmers are reported the worst season in decades, Florida is still lead the country in restaurant sales during 2017. Additionally, Miami is seeing steady growth with a new restaurant trend—food halls—that melds the concept of food courts with a fine dining experience.

Florida, the Time is NOW

With the opportunities for small businesses booming, why wait another moment. What is keeping you down? Financial restraints have been a complaint for many of the dreamers, limiting themselves to their immediate funds. There is an alternative. If you have the dreams and decent credit, Small Business Loans and No Doc Loans are available to you. Our goal is to provide you with the knowledge you need and the resources available to make your dream a reality. Give us a call – we have the education and the perspective to help you obtain the loans you need for your small business. Visit our website or give us a call to find out what financial backing is available to make your business soar!

Unsecured Finances has over 10 years in the consulting business! We specialized in educating and assisting clients on acquiring Unsecured Business Loans and Start-Up Business Specialty Loans including; Unsecured No Documentation (No-Doc Stated Income) Loans, Unsecured Business Loans, and Unsecured Start-Up Business Loans and Lines of Credit from $10,000 to $500,000 without Assets.

Apply on our website to find out if you qualify, or call today for a free consultation: 1-888-294-2584

10 Industries Driving the Sunshine State

Part 1

With small businesses and entrepreneurs coming into their own at an exceedingly high pace, the question on everyone’s mind is what industry should I get into? Where should I start my business? Depending on what type of business you want to start (local or online), there are many choices, but in most recent years it seems that more and more people are starting businesses in Florida. The reason everyone is flocking to the Sunshine State is due to these 10 industries that are driving the economic growth at a dynamic level:

1) Construction

Florida’s construction industry has been steadily growing over the past few years. In 2017, Florida showed an increase of over 7% in new construction jobs added, making it 4th in the nation in job growth. The Northeast Florida Builders Association reported an increase in new building permits issued—up more than 1,000 from the previous year to almost 9,000 permits.

This increase in need for construction work coincides with the booming real estate industry. With Florida being a coveted location for vacationers, snow birds, celebrities and just plain ol’ warm weather & beach-lovers, many people are investing in properties and land. As the many years and weather conditions create wear and tear on the buildings, many people decide to completely rebuild from the ground up. For others, it’s simply an alternate style choice.

2) Retail

The retail industry in Florida is holding strong and moving forward, bringing in over $3 billion in sales during 2017. New retail businesses are filling the voids left by big-box retailers who have vacated shopping centers in major cities. South Florida is showing the strongest expansion in retail, with the Miami area netting almost $900 million in sales last year.

Whether it’s a boutique soap company, beach-y clothing line, or an artisanal donut shop, South Florida is the place to bring all your ideas and entrepreneurial spirit.

3) Consulting

If you have an abundance of knowledge to share with other businesses, why not consider becoming a consultant? The most successful businesses in the world didn’t get there by chance, they hire other professionals to help them along the way, whether it’s with marketing, design or even building strategy.

The consulting industry in Florida has made significant headway in the last few years—in a recent report on the fastest growing consulting firms around the world, three Florida firms found themselves among the top 50. Orlando is fast becoming a growing hub for multi-million dollar consulting firms like Deloitte, KPMG, and ADP.

4) Real Estate

As we have already mentioned, the Real Estate industry has grown in leaps and bounds in Florida over the past few years. More people are flocking to the Sunshine State looking for more than just sunny days, but a piece of property in paradise. Snowbirds are choosing AirBnBs instead of lavish estates that go vacant over the rest of the year. Celebrities are always looking for a new home to add to their vacation collection. The Florida appeal is there, waiting for people to sell it.

Florida’s real estate industry has been steadily increasing, particularly in South Florida where luxury home sales have been consistently growing. And in the northern part of the state, the average home price in Jacksonville has jumped over seven percent since last year. Additionally, the commercial side of the real estate industry in Florida comes in third place in the country—a positive effect from the expansion in other industries (retail, consulting, healthcare, professional).

5) Entertainment

With all the bright lights, flamingos and art deco filling the feeds of Instagram Influencers, Miami and South Florida in general are in the spotlight and everyone is dying to come to where the party is.

Miami is seeing the largest volume of new entertainment business formations in the state, possibly bolstered by the influx of tourists over the last year — a record-breaking 15 million visitors flooded Miami and spent over $25 million in the city. The leisure and hospitality industry added almost 150,000 new jobs over the past year, further bolstering the city’s economy.

Florida, the Time is NOW

With the opportunities for small businesses booming, why wait another moment. What is keeping you down? Financial restraints have been a complaint for many of the dreamers, limiting themselves to their immediate funds. There is an alternative. If you have the dreams and decent credit, Small Business Loans and No Doc Loans are available to you. Our goal is to provide you with the knowledge you need and the resources available to make your dream a reality. Give us a call – we have the education and the perspective to help you obtain the loans you need for your small business. Visit our website or give us a call to find out what financial backing is available to make your business soar!

Unsecured Finances has over 10 years in the consulting business! We specialized in educating and assisting clients on acquiring Unsecured Business Loans and Start-Up Business Specialty Loans including; Unsecured No Documentation (No-Doc Stated Income) Loans, Unsecured Business Loans, and Unsecured Start-Up Business Loans and Lines of Credit from $10,000 to $500,000 without Assets.

Apply on our website to find out if you qualify, or call today for a free consultation: 1-888-294-2584

Why Now is the Best Time for Florida Entrepreneurs

So recently, it has been stated that Florida is one of the best states to start a business, according to a Small Business & Entrepreneurship Council report released this month. Our beautiful, sunny state was ranked fifth for policies that are welcoming to young entrepreneurs, directly after South Dakota, Nevada, Texas and Wyoming. The Washington D.C.-based nonpartisan research organization ranked states based on small business-related taxes, regulatory environment and government spending.

“From a federal and state tax standpoint, [Florida is] a very attractive place to start businesses, or frankly, to relocate businesses,” stated Jim Cassel, chairman and co-founder of Miami investment banking firm Cassel Salpeter & Co. It makes sense because the state doesn’t take personal income tax, estate tax or inheritance tax — but that’s just one piece of what will draw entrepreneurs to Florida in 2015, said Cassel.

Here are two reasons why South Florida entrepreneurship experts believe small businesses will grow here in the coming year:

Venture Capital and Angel Investors are Moving in.

In 2019, venture capital firms Scout Ventures and Richmond Global Ventures opened offices in Miami, demonstrating national and international interest in the South Florida startup scene. “But that’s just the beginning”, Florida Venture Forum President Kevin Burgoyne has said. “Just in the last three weeks, I’ve had meetings with four different venture investors who are in the process of opening offices in Miami,”.

“As more investors set up shop in South Florida, there will be less reason for startups to move outside the state”  as stated by Burgoyne. “There’s always been a little bit of money in South Florida, but money that is willing to invest in early- and mid-stage companies often comes from outside the state, and there is an increasing amount of money that is based here in Florida. That’s very encouraging.”

South Florida Entrepreneurs Have More Resources Than Ever Before.

“It’s more than just money,” said Ranjini Chandirakanthan, who leads the technology practice at Cassel Salpeter & Co. South Florida, “entrepreneurs have more access to mentorship, workspace and other resources than ever.”

“Money, culture [and] access to human capital all make an ecosystem,” she said. “And I think it’s here. For the savvy entrepreneur with a great idea, I think it’s easier to tap into that network here.”

Coworking spaces like the Axis, Regus, LAB Miami, accelerators such as Venture Hive and scores of other organizations and events have helped change the landscape for local startups. It really is just remarkable what resources are available — in almost all cases, at little or no cost to an entrepreneur. Local universities are training the next generation to think like entrepreneurs. South Florida’s universities are focusing resources on entrepreneurship through startup resource centers and world-class researchers. Florida Atlantic University opened its Tech Runway accelerator this year, while Miami Dade College announced plans for its Idea Center.

Opko Health CEO Dr. Phillip Frost has also put his checkbook into recruiting top-notch researchers to the area. “Unlike LeBron, they really do bring their talents to South Beach and stay,” stated Dr. Frost.

Florida, the Time is NOW

With the opportunities for small businesses booming, why wait another moment. What is keeping you down? Financial restraints have been a complaint for many of the dreamers, limiting themselves to their immediate funds. There is an alternative. If you have the dreams and decent credit, Small Business Loans and No Doc Loans are available to you. Our goal is to provide you with the knowledge you need and the resources available to make your dream a reality. Give us a call – we have the education and the perspective to help you obtain the loans you need for your small business. Visit our website or give us a call to find out what financial backing is available to make your business soar!

Unsecured Finances has over 10 years in the consulting business! We specialized in educating and assisting clients on acquiring Unsecured Business Loans and Start-Up Business Specialty Loans including; Unsecured No Documentation (No-Doc Stated Income) Loans, Unsecured Business Loans, and Unsecured Start-Up Business Loans and Lines of Credit from $10,000 to $500,000 without Assets.

Apply on our website to find out if you qualify, or call today for a free consultation: 1-888-294-2584