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

Borrowing That Can Improve Your Credit Score

Startup BusinessA credit score is what makes the lenders decide whether or not a business is suitable for lending. It is calculated based on the business’s credit reports.

The credit score of your company, and the risk it represents, are inversely proportional to each other. A higher credit score means low risk and vice versa.

According to Consumer Finance your recent credit activity, among others, make up a typical credit score. So if you are looking for a loan to start your business, you may as well hit two birds with one stone and increase your credit score while you’re at it. Here’s how borrowing can help you:

Unsecured Loans

When you are starting a business, you’ll undoubtedly look for unsecured lenders. This means, the lender is funding you on the sole basis of your credit history. Credit bureaus consider unsecured loans better for credit. With no collateral being put up in the exchange, your business will have a higher asset to debt ratio.

Credit Lines

Credit lines refer to the additional amount that your creditor had made available to you, in case your business needs emergency funds. The trick to keeping your score high is to use only a small portion of the credit available. If the card is worth of $50,000 and you use $40,000, your score will drop considerably. Making regular payments and consuming smaller amounts is the gateway to a high credit score.

Loan on Installment

Installment loans have a major impact on our credit scores. If your credit score is preventing you from getting the interest rate that you want, you may be able to improve your score by adding installment loans to your mix of credit. Installment credits have a higher limit as compared to other kinds of loans, hence, if you take out an installment loan and use these proceeds to pay for credit cards, it might make a considerable difference in your score and enable you to get the interest rate you have been vying for.

Looking for a way to increase your credit score? Contact us at Unsecured Finances. With more than 400 lenders, your business can choose a method best suited to your business needs, and at the lowest rates possible.