May 7, 2019
Reasons Why the Fort Lauderdale Business Climate is Ideal for Entrepreneurs
By Achim Neumann
Whether you’re looking to buy a business in Fort Lauderdale or sell a business in Fort Lauderdale, the “Venice of America“, is a popular tourist destination and one of the business powerhouses in the southeastern region of Florida and the US as a whole. The city is located in Broward County in the state of Florida, just 28 miles from Miami.
With more than 180,000 people living in the city proper, and over 6,000,000 in the Greater Miami Area, Fort Lauderdale is one of the perfect business centers with an ideal year-round tropical climate that not only offers a great quality of living, but makes for ease of business as well (no snow days here!). Throughout the year, the city boasts approximately 3,000 hours of sunshine.
The area boasts more than 4,000 restaurants, 63 golf courses, 12 shopping malls, and 132 nightclubs. Fort Lauderdale boasts one of the busiest entertainment and vacation destinations attracting well-to-do tourists in the world.
Tax Advantages For Businesses In Fort Lauderdale
According to the Greater Fort Lauderdale Alliance Economic Sourcebook, the state of Florida grants businesses an environment allowing them to flourish and expand through massive gains. The reason behind this is because the state of Florida does not have many pre-conditions often hindering businesses from gaining momentum.
In the whole country, Florida has one of the lowest corporate income tax rates at just 5.5 percent in the country and no state personal income tax! Fort Lauderdale has a lenient stance on:
- Corporate income tax on limited partnerships.
- Corporate income tax on subchapter S-corporations.
- Corporate franchise tax on capital stock.
- State-level property tax assessments.
- Property tax on business inventories.
- Property tax on goods-in-transit for up to 6 months.
- Sales and use tax on goods manufactured or produced in the state of Florida for export out of the state.
- Sales or use tax on boiler fuels.
- Sales or use tax on co-generation of electricity.
Big Corporations In Fort Lauderdale
Fort Lauderdale is home to some of the biggest corporations from diverse industries. Because of Fort Lauderdale’s geographic location, you’ll find many logistics companies, warehouses, large international banks and everything that goes along with providing the basic services and amenities that 6,000,000 people need to live a quality life.
Fort Lauderdale is located in a major American metropolitan region with over 6,000,000 state above, but it is also located on the fringe of the Caribbean and also serves a major port for LATAM. Port Everglades seaport is the busiest cruise port in the entire world and in the top 10 container ports for the country meaning there is a gigantic amount of transit from products to tourism.
Fort Lauderdale Workforce
The Florida Agency for Workforce Innovation reported that industries in Fort Lauderdale are projected to produce new jobs in a wide array of industries. This includes industries for the local government, professional services, scientific research, technical services, health care, administrative and support services industries.
Occupations that are expected to have higher needs include retail store attendants and customer service representatives. Skilled employment that is gaining a lot of traction and has a steady demand include HVAC technicians, cement masons, concrete finishers, and construction consultants. Meaning finding businesses for sale in Fort Lauderdale and selling a business in Fort Lauderdale are both good options for business-minded individuals as there are plenty of types of opportunities on the table.
Fort Lauderdale also provides moving and expanding businesses a wide array of benefits. Several noteworthy factors like business financing assistance, a streamlined regulatory process, low taxes, and the innovative and highly-ranked workforce development make the city a great option for investment.
About A Neumann & Associates, LLC
A Neumann & Associates, LLC is a professional mergers & acquisitions and business brokerage firm having assisted business owners and buyers in the business valuation and business transfer process through its affiliations for the past 30 years. With an A+ Better Business Bureau rating, the company has senior trusted professionals with a deep knowledge based in multiple field offices along the East Coast and has performed hundreds of business valuations in its history. The firm’s competitive transaction fees are based on successfully completing transactions. For more information, please contact A Neumann & Associates at 732-872-6777 or firstname.lastname@example.org