New Study Showing Florida as The Best State for Small Business Owners

New Study Showing Florida as The Best State for Small Business Owners

PANAMA CITY, Fla. (WJHG/WECP) -Starting a small business is a big job. But, if you’re looking to become a business owner, a new study says Florida is the place to do it.

A report by “Capital on Tap” ranks Florida as the number one state in the nation to start a small business. Florida’s 5.5% corporate tax rate and its top ranking for creating new jobs are some of the reasons it tops the list.

Research studies also say that not only are Floridians viable enough to employ staff, but the local businesses are benefitting the economy.

Entrepreneur Madison Rose’s business took off when she opened Smashed Wine Bar in Panama City Beach almost a year ago.

Now Rose hopes her small business can help other startups. Guilded Sparks, another local business, also operates in the same building as Smashed. Rose said they both work collaboratively to help each other gain notoriety.

“I try to work with as many small businesses as I can that are all local, so we all collaborate together and we can help each other grow our businesses; basically, as like a little team.” Rose said.

Rose also hosts events such as paint parties, boutiques, and food pop-up shops. Finding something unique is the secret to success. Smashed is the only Wine Bar in Panama City Beach to offer Hemp infused cocktails. Rose said she wants to bring something entirely different to the city.

Rose plans to incorporate a coffee bar into the list of tasty beverages. The coffee will be mushroom based. Rose explained the nutritional values behind the coffee and said she plans to have several items updated on the menu soon.

When it comes to taking that leap and following the American Dream, people like Madison Rose are proof that starting a small business may be worth the effort, especially in the state of Florida.