Is the cost of living in your city prohibitively high for aspiring entrepreneurs? Or have you already gotten your business off the ground, only to feel discouraged by a lack of support for local business owners? You’re thinking about relocating to a more favorable city for entrepreneurs, but you want to make sure that your family would be happy there, too.
If you’re balancing all of these factors in your moving decision, you may want to think about settling down with your family in Orlando, Florida. Orlando is well-known for famous destinations like Walt Disney World, but the city is also a great spot for entrepreneurs!
Affordable Cost of Living
The reasonable cost of living in Orlando makes the city a standout choice for entrepreneurs. In recent months, approximately 1,447 properties have been available for rent at a given time, and you can expect to spend about $1,683 on rent. Should you decide to buy a home in Orlando, you’ll find that the costs are lower in comparison to other major metro areas, with the average home price currently standing at $340,000.
Furthermore, it’s important to note that the low cost of living doesn’t just keep housing costs affordable—it also enables business owners to hire top talent at a lower price. This will give your business a longer “runway,” so you can focus on getting up and running without worrying about turning a profit to stay afloat during your first few months in operation.
Support for Local Entrepreneurs
As a business owner, you might cherish your independence – but even entrepreneurs who thrive with high levels of autonomy need support and guidance from others in their field. Having a community by your side means that you’ll get to enjoy mentorship, work with loyal customers, and get the advice you need when it’s time to overcome a challenge. GrowFL recommends linking up with these organizations and agencies in the area for support:
- CareerSource Central Florida is training the workforce of the future and connecting businesses with the talent they need.
- Start networking with other proactive entrepreneurs at meetups hosted by 1 Million Cups Orlando.
- The Orange County Office for Economic, Trade, and Tourism Development assists many entrepreneurs with business relocation.
Thriving Cultural Scene
Residents of Orlando enjoy a high quality of life, all thanks to the natural beauty and exciting cultural scene in the area. When your employees truly love where they live, you can expect a dedicated investment in the future of your business and a better atmosphere in the office! You can check out these beautiful local parks and engaging cultural events with your loved ones:
- Try out lots of different outdoor activities across five different park sites at Shingle Creek Regional Park.
- Lake Louisa State Park is one of the largest parks in Central Florida, which allows for endless exploring!
- Check out live performance art at Orlando Fringe, and taste the flavors of the world at the Epcot Food and Wine Festival.
Business Requirement Checklist
No matter your industry, you’ll need to prepare for your big move by getting acquainted with Florida’s requirements for business owners. These regulations might differ from the rules in your previous state, so you’ll want to research these aspects of business ownership thoroughly. This checklist will help you ensure that you’ve covered all of your bases:
- Select the right business entity and register your business name to qualify for helpful benefits like tax breaks.
- Once you’ve been assigned an Employer Identification Number, you can open a business bank account.
- Find out if you’ll need a business license, sales tax permit, or professional licensing to operate your company.
Fantastic Weather
The weather can certainly have an effect on your mood and the morale of your employees. Commuting to work in a rainstorm or leaving the office on a gray, gloomy evening is always disappointing! But with countless sunny days all year round, you and your team will be able to enjoy Orlando to the fullest, on and off the clock.
Educated Talent Pools
Orlando is known as a vacation destination, but it’s also a bustling college town! With an educated workforce in an affordable area, business owners can hire talent with qualifications to work in a wide variety of fields at a fraction of the cost compared to other markets. CollegeSimply highlights a few institutions that prepare young professionals in Orlando for the job market:
- Students get a well-rounded education and plenty of networking opportunities at the University of Central Florida.
- At the nearby Florida Institute of Technology, students can prepare for fruitful careers in science and technology fields.
- Students attending Stetson College can enjoy a high-quality private education on a gorgeous small campus.
Once you’re established in South Florida, you can use job posting services like Jobbinghood to fill out your bench of talented employees. Once you have your team onboard, you can create a process map to get them up to speed quickly on how your business will be successful. Then you’re ready to get to work!
Plenty of Newcomers
In recent years, Orlando has seen a notable influx of transplants from other states and elsewhere in Florida. As a new arrival, you certainly won’t be alone! Plus, with so many people choosing to relocate to Orlando, the talent pool for employers is always growing, and new employees from all over the country bring a wide variety of diverse perspectives, skills, and experiences.
If you’re a small business owner ready to advance your career in a city your whole family will love, Orlando is calling. With endless activities and things to do in the area, as well as plenty of opportunities for ambitious entrepreneurs, you’ll be glad that you made the move to this growing city. In Orlando, you can connect with other business owners, enjoy everything the area has to offer and provide your family with a great quality of life.
This article is brought to you by Jobbinghood, the world’s first free-for-all multimedia employment marketplace, where job seekers and employers have free and unlimited access to each other, through text, audio, video and chat communication. For more information about our services, contact us today!
Photo by Elijah Chen via Unsplash