Florida Ranks Among Top 5 States for Doing Business

mortgage loan financingThe availability of trusted commercial hard money lenders in Florida could be one of the reasons behind the state’s rank as the second best place for doing business in the U.S. Monroefundingcorp.com and other experts in the state noted that this is a good sign.

Based on an annual survey of CEOs, other factors for this ranking include a taxation system, fair regulatory policies, workforce equality, and living environment that have attracted businesses to the Sunshine State.

Consistent Performance

The Sunshine State has ranked second best over the last four years. Texas has been on top for 14 years in a row, while the other states on the top five included North Carolina, South Carolina, and Indiana. California ranked on the bottom of the list due to expensive taxes, traffic, and a high cost of living.

Cash-strapped businesses that want to expand this year should consider non-traditional commercial loans, particularly if you don’t meet certain bank criteria. Funding would be important for initiatives such as recruitment, as many small businesses struggle to fill job vacancies.

Workforce Concerns

A separate poll by the Florida Chamber of Commerce revealed that the lack of skilled workers continued to be the biggest concern for most small businesses. Economic uncertainty, state regulations, lawsuits, and healthcare expenses are the other issues for them.

Access to capital served as another worry, but many commercial lenders would be willing to strike a favorable deal. For instance, first mortgages on non-owner-occupied commercial properties can be a solution to your financing requirements. Consider taking out a loan this year and find out for yourself if Florida is indeed the second best place for businesses.

Many factors affect the viability of expanding your business in a certain state. Small enterprises in Florida only have limited options for working capital, unlike large businesses. The good news, however, is the state’s business environment that makes it relatively easy for SMEs to borrow funds.

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