There are several advantages that motivate migrant entrepreneurs to start businesses in South Florida. The location provides access to new markets and customers, and a tech community has formed that allows for connections between entrepreneurs. Furthermore, South Florida is becoming a financial center, attracting capital. The regulatory environment in Miami is favorable for businesses, with a government that supports low taxes.
According to survey respondents, one of the main advantages of South Florida is its access to multiple markets, including both the Latin American and American markets.
<aside>
💡 Use the following interactive tool to learn more about the benefits of the South Florida migrants.
</aside>
https://apption.co/embeds/7309774a
- Survey migrants also mention that good benefits of the city are the access to a new community (78%) and the network of entrepreneurs (66%).
- The ecosystem seems to be interconnected, with 4 out of 10 respondents reporting that they have provided mentoring or investments to local entrepreneurs.
- Because of the interconnectedness of the ecosystem, there is an opportunity to attract investors. According to the analysis, a large proportion of investors tend towards early-stage venture capital investment (63%), followed by late-stage venture capital (58%) and angel funding (55%).
<aside>
💡 Use the following interactive tool to learn more about the benefits by funding of the South Florida migrants.
</aside>
https://apption.co/embeds/b47f5515
- The number of deals closed by South Florida migrants grew at a 32% categorized annual growth rate (CAGR) from 2017 to 2021, with a slight decline in deals in 2022.
- South Florida has proven to be a startup-friendly environment with a government that supports entrepreneurship, ease of doing business, and lower taxes compared to other cities.
- Miami is safer than other tech hubs, with lower crime rates. A ****75% of migrants reported that safety is a greater benefit.
🔙 Back to main menu