starting a business in miami – why is that the best choice?

i’m not gonna lie, i might be a little biased in this conversation. but i’ll do my best to bring a mix of opinions and facts here.

first off: why not new york or los angeles?

when it comes to starting a successful business in the U.S., when we envision this life, it’s usually the BIG APPLE or CITY OF ANGELS that comes to mind. but that is where EVERYONE’s mind goes to. so try to think a little differently for once. 

what you may not know is that miami presents a unique blend of opportunities that are hard to ignore. the city is buzzing with entrepreneurial energy, driven by the presence of big brands and a dynamic market that is active but not overwhelmingly competitive (like NYC and LA obviously are). 

also, after the pandemic and with the new generation, there was a shift in how we envision life and work balance. many people started moving away from densely populated areas in search of better climates and more freedom. miami offers an ideal balance of urban amenities and open spaces.

there is still a lot of room to grow within this community. that doesn’t mean it’s easy, but it is a lot more manageable than in other big centers around here.

the growth

according to a recent study by WALLETHUB that compared the relative startup opportunities that exist in 100 US cities, miami stands as the overall TOP 5 best place to start a business and takes TOP 2 when it comes to the business environment.

in recent achievements, miami was found to be home to 120 new-to-market companies and $9 billion in new wages. the city is also THE NUMBER ONE in the nation for tech job migration, wage growth and direct foreign investment.

in terms of people, miami is the NUMBER ONE city in the WORLD for diversity, with an astounding almost 60% of its residents born outside the U.S.. it is also the second city nationally to receive more visitors, second only to New York City, and the third nationally and fifth globally for the super-rich to own property.

miami is essentially, in its core, still a small town. but don’t kid yourself, the growth is happening and is happening FAST now. so you don’t want to miss your chance to be here.

global events in miami

that is another point so many people don’t realize. some of the biggest events happen in our beloved city, which significantly works in favor of boosting brand visibility and engagement.

events like ART BASEL, MIAMI FASHION WEEK, AND THE MIAMI INTERNATIONAL BOAT SHOW attract global audiences. FORMULA 1 recently also chose miami as a host city, emphasizing its rising importance on the international stage.

by having a presence here, your brand can leverage these high-profile events for increased exposure, networking opportunities, and even creating mini-events linked to the theme and public that comes into the city for the main one.

a latin america hub

as you’ve already seen, it’s impossible to talk about miami without mentioning the large connection with the latin community that makes this place what it is.

as a sort of latin capital outside of latin america, miami is the place for newcomers. the city earned its reputation as the number one city for startup activity in the U.S. this thriving ecosystem is supported by a strong network of investors, incubators, and accelerators that cater specifically to the needs of latin american entrepreneurs.

also, geographically, miami serves as a strategic gateway to latin america. its location makes it an ideal base for importers and exporters looking to tap into those markets. the city’s free trade zones and opportunity zones further enhance its attractiveness for businesses looking to expand their operations.

now, for the business owner: living in miami

if you love pleasant weather that still offers year-round warmth, the climate is a major draw. miami is a place where you’ll never experience the kind of freezing cold where it feels like your finger will fall off :o

and if you’re latin or brazilian, stop searching: this is the place for you. the weather, reminiscent of brazil’s summer, is complemented by a rich cultural tapestry, with strong latin and brazilian communities all around.

walking around and seeing the vibrant scene, having a community to go to when you miss home, it provides a sense of belonging and makes this place feel like home for many expatriates.

and if you’re still trying to navigate the business scene in miami – or thinking about coming here –, you’re in the right place.

you can count on ARA to be your guiding light!!