The United States is regarded as the land of opportunity, and rightly so. Small businesses have been the backbone of the United States’ thriving economy for a number of years. Most businesses that are started begin with a dream, someone’s lifelong ambition, which then turns into a small business.
Florida is no stranger to small businesses; in fact, it ranks 3rd in the U.S. for the most number of small businesses in the state.
The Sunshine State is considered to be one of America’s economic powerhouses. Over the past several years, it has been consistently voted as one of the top states for business due to the government’s pro-business approach, having the third-largest workforce, low and competitive tax incentives, 0% income tax, and an almost unmatched quality of life.
Number of Small Businesses in Florida
So, how many small businesses are there in Florida? There are 2,974,046 (3 million) small businesses in Florida, according to the latest figures (2022) from the SBA.
It is not just Americans and Floridians starting small businesses in Florida; the state is a hotbed for international entrepreneurs. Today, in Florida, there are more than 1,279,298 Hispanic and racial minority-owned businesses.
If you own a small business in Florida or you are looking to start a small business, then you may need a loan. Start-ups often need a loan to get their business off the ground, and existing companies may need to hire more employees, offer more products or services, or expand to new markets.
You can use our handy loan calculator below to get an idea of how much a small business loan will cost you, how much principal and interest payments will be, and what the total cost of the loan will be once repaid.
The following bar graph shows the number of small businesses in Florida in 2018, 2019, 2020, 2021, and 2022.
Of the 2,974,046 small businesses in Florida in 2022, there is a wide array of different enterprises from small, one-person sole proprietorships or LLCs to much larger businesses with several hundred employees. If you want to join the 3 million-plus small businesses in Florida, it is fairly easy to register a business in Florida.
To be a small business in Florida, you have to qualify as one. So, to operate as a small business in Florida, you must have a company with less than 500 employees.
Let’s take a deeper dive into the number of small businesses in Florida by looking at the top industries, business owners, employees, and more!
Small Businesses in Florida 2022 overview:
- Small businesses equate to over 99.8% of all businesses in Florida.
- There are 3,590,380 small business employees in Florida, which is 40.5% of the state’s employees.
- Small businesses employing fewer than 20 employees created the most job gains!
- There are 994,000 self-employed minorities in Florida demonstrating the diversity in the state.
- Trade is huge for Florida businesses, and there are 54,553 small business exporters in Florida.
- There are more professional, scientific & technical service small businesses in Florida than any other type – 379,615.
- Administrative, Support & Waste Management Firms make up the 2nd largest number of small businesses in Florida – 346,947.
How Many Small Businesses in Florida?
Over 3 million small businesses are a lot to be registered in any one state, but when you look at the size of the Sunshine State, its economy, and its influence on business, it is hard to argue why so many have chosen Florida.
Florida has an incredible amount to offer employers, employees, companies, and entrepreneurs from all over the world continue to flock to the state due to its brilliant and business-friendly taxation system, access to huge consumer markets, international access by land, sea, and air, world-class infrastructure, a healthy import/export market, and strong population and job growth.
If you would like to download the latest 2022 Small Business Profile on Florida from the U.S. Small Business Administration, Office of Advocacy, the full Profile can be downloaded here.