If you are looking to grow your small business, South Florida is a good place to be.
Biz2Credit, a firm that matches small businesses to financial institutions, has ranked the Broward and Miami-Dade County area as the fifth-best for small-business growth in the country. Orlando came in 12th, and Jacksonville was 21st.
Rohit Arora, CEO of Biz2Credit, oversaw the research and did not expect the Miami-Fort Lauderdale area to rank so high.
"It was a discovery for us," he said, "especially since they suffered one of the worst real estate busts."
The rankings looked at five factors: the average annual revenue of small businesses, the average number of employees, the ages of the businesses, the average credit scores of the owners and the taxation rates in the cities.
The firm defined small businesses as companies with fewer than 250 employees or less than $10 million in annual revenue.
Arora attributes much of the area's ranking to the large Hispanic population in the two counties. In 2011, according to the U.S. Census Bureau, 22.9 percent of the population in Broward County was Hispanic. In Miami-Dade County, the Hispanic population was 64.5 percent.
"Hispanics are the fastest-growing small-business community in the country," he said.
Sharon Geltner, a counselor at the Small Business Development Center at Palm Beach State College, agreed.
"People who have the gumption to leave their homes and learn a new language usually have the gumption to start up a business," she said.
Miramar resident Maria Catale is one of these business owners. Catale emigrated from Venezuela to the United States almost two decades ago, and is one of the co-founders of Only About Innovation LLC. The company was launched in 2009 to sell a pool cleaning device that one of the founders invented.
The device became available for sale in October, but sales remained sluggish until spring, when, Catale said, warmer weather led to more pool purchases.
"It was all little by little," she said.
The company is still not profitable, but Catale is confident that sales will continue to grow in the future.
Still, George Gremse, an adviser with Broward SCORE, thinks growth is dependent on the type of business, and that some businesses can fail even if the overall environment is conducive to growth. SCORE is a nonprofit organization that assists small-business owners or those looking to create small businesses.
"If you are going into VCR rental, of course it's going to be hard to grow," he said.
For others, such as small-business owner Joseph D'Silva, growth can be elusive but profits consistent.
D'Silva owns Wellington-based Power Blasters Pressure Washing Inc., which he founded two years ago after being laid off from the financial industry. D'Silva and his two employees power-wash between 100 and 150 high-end homes every year.
The company has been consistently profitable despite shifts in marketing strategies, said D'Silva, who wants to continue "building the foundations" of his business before expanding more.
I have 2 profiatble businesses for sale in South Beach both profiatble, please feel free to contact me for details
Biz2Credit, a firm that matches small businesses to financial institutions, has ranked the Broward and Miami-Dade County area as the fifth-best for small-business growth in the country. Orlando came in 12th, and Jacksonville was 21st.
Rohit Arora, CEO of Biz2Credit, oversaw the research and did not expect the Miami-Fort Lauderdale area to rank so high.
"It was a discovery for us," he said, "especially since they suffered one of the worst real estate busts."
The rankings looked at five factors: the average annual revenue of small businesses, the average number of employees, the ages of the businesses, the average credit scores of the owners and the taxation rates in the cities.
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Arora attributes much of the area's ranking to the large Hispanic population in the two counties. In 2011, according to the U.S. Census Bureau, 22.9 percent of the population in Broward County was Hispanic. In Miami-Dade County, the Hispanic population was 64.5 percent.
"Hispanics are the fastest-growing small-business community in the country," he said.
Sharon Geltner, a counselor at the Small Business Development Center at Palm Beach State College, agreed.
"People who have the gumption to leave their homes and learn a new language usually have the gumption to start up a business," she said.
Miramar resident Maria Catale is one of these business owners. Catale emigrated from Venezuela to the United States almost two decades ago, and is one of the co-founders of Only About Innovation LLC. The company was launched in 2009 to sell a pool cleaning device that one of the founders invented.
The device became available for sale in October, but sales remained sluggish until spring, when, Catale said, warmer weather led to more pool purchases.
"It was all little by little," she said.
The company is still not profitable, but Catale is confident that sales will continue to grow in the future.
Still, George Gremse, an adviser with Broward SCORE, thinks growth is dependent on the type of business, and that some businesses can fail even if the overall environment is conducive to growth. SCORE is a nonprofit organization that assists small-business owners or those looking to create small businesses.
"If you are going into VCR rental, of course it's going to be hard to grow," he said.
For others, such as small-business owner Joseph D'Silva, growth can be elusive but profits consistent.
D'Silva owns Wellington-based Power Blasters Pressure Washing Inc., which he founded two years ago after being laid off from the financial industry. D'Silva and his two employees power-wash between 100 and 150 high-end homes every year.
The company has been consistently profitable despite shifts in marketing strategies, said D'Silva, who wants to continue "building the foundations" of his business before expanding more.
I have 2 profiatble businesses for sale in South Beach both profiatble, please feel free to contact me for details
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