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Fla. Ranks 2nd as Best Small Business State

The state got high marks for its net influx of educated workers, job creation rate (up 12.7%) and consumer spending (up 3.4%).

SHERIDAN, Wyo. – Florida ranks No. 2 as the best state for entrepreneurs and small businesses in the U.S in 2024, according to a new study from SimplifyLLC.

Coming in just behind Texas, Florida received top marks because the state was No. 1 for the net influx of educated workers, at 144,915; No. 6 for job creation rate, with a 12.7% increase; and No. 15 for consumer spending, which rose by 3.4%.

The study considered six key factors to determine the rankings of states and their level of small business development, including corporate tax rates, inflation, migration of educated workers, new business formations, job creation and consumer spending.

Rounding out the top five states, Wyoming was named the third-best state for small businesses, followed by Missouri and Delaware.

According to the U.S. Small Business Administration, more small businesses were launched in the nation in 2023 than ever before, with 5.5 million new small businesses created last year. It was the third year in a row for record levels of new small businesses in the U.S.

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