Any successful business is constantly going to be on the lookout for what others in their field are doing. There will always be certain trends that suddenly emerge, seemingly out of nowhere, and then quickly disappear. On the other hand, there are other types of trends that only accelerate without stopping. Companies in the tech industry have always looked towards the future. Recently we have seen them cast their gaze on Florida. In the past several years, many tech giants have relocated to the Sunshine State. This undoubtedly begs the question: Is Florida the next Silicon Valley?
What the past year has taught us
Although the COVID-19 pandemic is nearing an end, there is still a long way to go. Instead of panicking, let’s look to the previous year and learn something that we can hopefully use going forward. None of these trends are actually new, but they have definitely been highlighted by the pandemic. After a while, some constant occurrences stop being simple trends and transcend into industry wisdom.
The coronavirus pandemic highlighted the following:
- People can work from anywhere. Any job that could be done remotely was shifted to working from home. Of course, this was a lot simpler for people working in IT. Digital workers (people with software skills, not robots) mostly just need a laptop. When given a choice, many are sticking to their home offices instead of returning to company premises.
- The IT industry has been resilient. Most businesses have had a hard time during the pandemic. However, startups and IT companies have shown remarkable resilience. Even companies without a strong online presence have started exploring digital platforms. There has been a growing need to reach out to customers and conduct business online. This need was met by an IT crowd, who used the opportunity to grow and expand their businesses. Social media marketing has become something every business needs. An increasing number of companies have started opening online stores and offering deliveries.
- Big tech and startups are relocating to the same places. Even when working from home, you will sometimes need to drop by the office headquarters. Some business still needs to be done in person, and it will stay that way for the foreseeable future. Placing your company near other professionals from similar fields is nothing new. It helps when developers are right next door to researchers. Certain areas are rich with industry talent, which will only draw more tech companies to the same region. On the other hand, if you are an individual seeking work, you will go where the business is.
Why IT companies like Florida?
Even though most people have just recently noticed the trend of tech companies moving away from Northern California, this process was long in the making. While some might be wondering is Florida the next Silicon Valley, the only proper answer is that it has been, for some time. Companies big and small have been setting up in Florida for decades now. From new companies and small startups to big-tech leaders, many are finding South Florida to be perfect for their business.
The Sunshine State isn’t just a great place to start a new company. Florida has also been very welcoming for businesses who want to relocate there. Many companies that do work in digital technologies find that it’s simple to get your business easily transferred with the help of commercial movers, even when relocating long-distance. The blossoming tech scene has also prompted individuals seeking job opportunities to relocate there as well. It seems that many people are looking for a place that has a good mix of life and work benefits. For a large number of them, Florida seems to be the answer; let’s see why.
Here is what makes Florida a great place for businesses:
- No income tax – probably the biggest draw for setting up a business in Florida is the fact that there is no personal income tax.
- Low cost of living – the fact that Florida is a cheap place to live is attractive not just to businesses but individuals as well. Getting more for your dollar never hurts.
- Warm climate – having warm weather all year round is always a plus. There is a reason Florida is called the Sunshine State. Locals joke that since it is always warm, there are only two seasons in Florida: wet and dry season. The rainy season lasts from May to October.
- Diverse culture – a relatively young population coupled with a diverse culture is great for fostering creativity and attracting talented individuals. Strongly influenced by Latin and Caribbean immigration, the local culture is also a big tourist draw.
- Strong local education – the University of Miami and Florida Atlantic University are great recruiting places for businesses since they produce a lot of local talent. College students can also look forward to getting a great education and a head start in entrepreneurship.
The perfect place for small startups
All of the above factors combined make for a thriving environment to set up a new business. The economy is recovering and reopening following the corona-imposed lockdowns. The real estate market has also bounced back with numerous affordable office spaces. Many small businesses, as well as those that are just starting out, need to keep their ear to the ground. If you are wondering is Florida the next Silicon Valley, you can check out the best small business sites for tips and information. Miami has gained a reputation as an emerging tech hub.
Florida has proven to be an excellent place for achieving a perfect balance of life and work. Numerous beaches and outdoor activities offer locals an accessible getaway from the daily grind. Youthful energy mixed with a strong work culture creates a blend that is drawing the IT crowd from all across the country. Many young people living and working in Florida are acting as ambassadors, calling their friends and coworkers to join them. They are casting away all doubts from people who are questioning is Florida the next Silicon Valley.