Good news for people starting a small business in SW Florida – SW Florida is the place to be. Video can be found here, courtesy of Wink News. http://www.winknews.com/2015/05/07/swfl-tops-list-of-places-to-start-a-small-business/
Excerpt from Wink News:
SWFL tops list of places to start a small business
LEE COUNTY, Fla.- If you want to start a small business, you’re in the right place.
WalletHub, a group that does economic studies nationwide, has Southwest Florida at the top of its list.
The group says the Cape Coral-Fort Myers metro area is showing the biggest growth in small businesses.
The study also predicts that Cape Coral will lead the nation in population growth, increasing by 103 percent between now and 2042. The population is predicted to increase from about 170,000 to more than 340,000.
Some question, how are we going to find room on the roads?
“Will we be stuck in traffic for longer than we already are?” said Rebecca Slaughterback.
Business owners believe more people will encourage even more small businesses to open.
“A lot of people are looking for that unique shop, you know, something that a small mom and pop shop offers,” said Lynn Routhier.
However, there’s a big question about housing. The area has a serious shortage of rental units.
Right now, the median price of a single-family home in Lee County is $219,000. That’s up from $80,000 during the recession.
If those prices keep going up, people could be priced out of homes.
“Twenty-five years from now, will you still be able to buy that house? Will you still be able to buy that lot? I’d want to see how that factors into the study,” said realtor Marc Joseph.
Predicting population and economic growth 25 years out, can be dicey at best. But this and other studies show a strong growth is likely, and the trends are positive for small businesses.