If you’re tired of the rat race and ready to hit your own pebble, Miami-Dade County offers great opportunities for new and expanding businesses. Miami is a hotbed for tourism: it serves as the home port for the vast majority of cruise lines that serve the Caribbean. It is also home to numerous companies doing business in Latin America. Whatever your niche, you are sure to discover a potential market in South Florida.
Miami-Dade offers a number of tax advantages to businesses of all sizes. The absence of state or local personal income taxes reduces overall employment costs. There are no local corporate taxes and Florida’s state corporate tax rate of 5.5% is among the lowest in the nation. Certain new businesses may also qualify for federal benefits by locating within the Miami-Dade federal Empowerment Zone.
If you’re still not convinced that Miami is a great place for your business to take off, check out the Beacon Council’s list of reasons for doing business in Miami. On the other hand, if you’re ready to take the plunge, try these three quick steps to start the road to success in Miami:
- Visit the Small Business Administration . Miami is home to one of only two SBA Business Information Centers in Florida. This excellent resource provides assistance and advice to new business owners and maintains a large reference library. For more information, visit their office at 49 NW 5th Street.
- Obtain the necessary permits . At a minimum, you will need to obtain a local business tax receipt from Miami-Dade County. You will need to fill out a short form and pay a tax based on the type and size of business you are establishing. For more information, contact the Tax Collector’s Office at (305) 270-4949 or visit one of their offices downtown or in South Dade. You may want to consult with an attorney to determine if other state, municipal or county licenses are required for your line of business.
- Use local resources . Miami wants your business to succeed! After all, successful businesses create jobs and bring new income to the community. There are several local business groups (such as the Greater Miami Chamber of Commerce and the Beacon Council) that exist for the sole purpose of creating networking opportunities for business owners.
There are many opportunities for new business owners in Miami-Dade, whether they are looking to open a small restaurant or start the next high-tech phenomenon. Make sure to take advantage of all the established public and private sector programs to help you get off on the right foot. Best of luck in your endeavors!