Southwest Florida currently represents one of the best places in the US for young entrepreneurs. The region bags six of the top ten places in the national ranking. The findings highlight the excellent opportunities in Southwest Florida generally and for the property market in the area specifically.
MoneyRates.com recently compiled a survey looking at the best parts of the US for young entrepreneurs to set up business. The survey took into account four main factors: population growth rates; education levels; young adult affluence; and the business tax environment. Taking the 25 fastest-growing metro areas in the US as the base for the survey, MoneyRates.com then shortlisted them to the top ten. Metro areas in Florida account for six of the total with Southwest Florida performing particularly well.
Southwest Florida in top position
At the top of the table sits the metro area of North Port-Sarasota-Bradenton, the highest ranking location in the US for young entrepreneurs. This sought-after corner of Florida features in the top ten for all four categories covered in the survey and in third position for young adult affluence.
Still within Southwest Florida and just slightly south of Sarasota, Punta Gorda in Charlotte County takes seventh place in the ranking. This popular part of Florida for relocators appears in the top ten nationwide for both population growth rate and young adult affluence.
Completing the hat trick for Southwest Florida is Cape Coral/Fort Myers in fifth position. A major contributing factor to this metro area’s high ranking can be found in its population growth. Cape Coral ranks as the fifth fastest-growing area in the US.
Southwest Florida is currently performing well across the board. The region’s economy is strong this year and the property market has huge potential for growth. This is particularly true of new builds whose construction rate remains “well below what is needed to keep up with the population growth”, according to a local report published earlier this year.
Florida dominates ranking
A further three Florida metro areas appear in the young entrepreneurs survey. The Villages, a favourite with retirees moving to Florida, takes fourth position. According to MoneyRates.com, the ranking may seem contradictory but they point out that retirees are key end users of services, often provided by young entrepreneurs.
The Sebastian Vero Beach metro area stands in ninth place. Like the other Florida locations in the survey, this Atlantic coast community also benefits from fast population growth and a favourable business tax environment. Completing the Florida positions is Orlando. The survey emphasises the “fertile environment for new businesses” in America’s favourite holiday destination.
Along with fast population growth – Florida counties and metro areas consistently rank at the top in the US – the Sunshine State also presents very favourable business tax conditions. The state stands in fourth place in the national rankings, according to Tax Foundation, and this is reflected in the MoneyRates.com survey.
“Southwest Florida definitely represents one of the hottest areas in the US at the moment as this survey confirms,” comments Dies Poppeliers, Managing Director of BRIC Group. “The rising population, both of retirees and relocators, offers excellent property investment potential for resale and rentals.”
BRIC Group, an investment company specialising in global real estate opportunities, offers US real estate investments including turnkey properties in Florida and Houston, and land plots in Florida. BRIC Group is also developing The Coral resort, in Northeast Brazil, a luxury beachfront resort with land and villa investment opportunities. BRIC Group has been creating wealth for its clients since 1996 and has offices in Brazil, Dubai (consulting office), Hungary, Spain and the US.