The population in Florida is growing rapidly and many that move or relocate to Florida plan to start a business or relocate their existing business. Choosing the ideal location for your business is crucial if you want to be successful. Here are some of the worst locations for starting a business in Florida:
Tallahassee is a growing city but it’s growth is largely fueled by 2 things:
- College Students
- State Government Offices
Tallahassee is the State Capitol of Florida and accordingly there is an abundance of government offices. It is also the home of Florida State University so the population of Tallahassee swells every year from August until June with college students. Some new business ideas will work well here if they are targeting college students of government agencies. Outside of that limited market Tallahassee is not an ideal community for starting a business and there are many other better choices throughout the State of Florida.
Panama City, Florida
Panama city is most often known as a resort town that fills up with spring breakers every year from February to April. There are opportunities to start a business however many of those opportunities are seasonal and business owners will often experience slow times throughout the year when tourism rates decline. There are no major cities within nearly 100 miles which makes Panama City a very isolated market for starting a business. Most business owners will struggle to get their business started and profitable due to the lack of major markets nearby and the lack of resources for new business owners in this area.
Titusville is a smaller community located near Cape Canaveral. Affordable housing is available which makes Titusville an appealing choice for many Florida transplants. If you plan to start a new business or relocate a business Titusville is not the best choice. It is geographically isolated from many of Florida’s larger cities. The nearest city is Cape Canaveral but it is also considered a smaller community. Most business owners will find that Titusville provides limited options for growth if they are starting a new business or relocating an existing business.
Key West, Florida
Key West may be one of the most beautiful places in Florida however it is not idea for starting or relocating an existing business. Key West is very isolated from all major Florida cities. The closest major city is Miami and that is over 160 miles away. The primary opportunity for growth will be in Key West itself and the other Florida Key islands however competition is fierce. Key West is very desirable and many other people choose it for starting a business. With a limited market, high competition and expensive operating costs we feel Key West is not a great choice for starting or relocating a business.
Pensacola is located in the Western-most part of the Florida panhandle. It is isolated from almost all other parts of Florida, especially Florida’s largest cities. While it is possible to start or relocate a business here it is not the best choice. Market potential is limited due to the distance to any major cities. The population of Pensacola is smaller than all major Florida cities and most business owners will find it challenging to start or relocate their business here.
If you are thinking of starting a new Florida business or relocating an existing business to Florida please contact us. We can assist you with registering your business with the State of Florida and establishing an effective accounting and bookkeeping system to keep your business on track.