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Why Is Tampa Bay a Great Place for Businesses?

Tampa Bay is among the top 15 areas to start a business in, according to WalletHub's annual list of the best big cities for businesses and startups. WalletHub analyzed the startup environment in 100 U.S. locations and ranked them based on their business climate, availability of resources, and start-up costs. These metrics were used to calculate a total score of 100.


This year, with a cumulative core of 61.78, Tampa made the top 10 for the first time! It also ranked 19th in terms of business costs and 24th in terms of resource accessibility. If you’re a business owner looking for more opportunities, now is the perfect time to contact a Tampa Bay moving consultant.


As a state, Florida dominated the top tier of the 100 cities in WalletHub’s study, with Orlando topping the list, Miami coming in third, and Jacksonville coming in 12th. However, Tampa ranked at the top when it comes to business costs, which included factors such as:

  • Office space affordability

  • Labor prices

  • Corporate taxes

  • Cost of living

Tampa Bay also scored high ranks in the area of business climate. But what are the factors that make up “business climate”? Here are the criteria:

  • Startups per capita

  • Average length of a workweek

  • Average growth in the number of small enterprises

  • The five-year firm survival rate

  • Industry diversity

  • Employment growth

Why Should You Choose Tampa Bay for Your Business?

Well, why not choose Tampa Bay? The area offers an impeccable combination of favorable business climate, cost of living and quality of life that can’t be beat. It boasts all of the conveniences of a major city, including top-rated educational institutions and hospitals, as well as an endless array of restaurants, shopping and outdoor activities.


Despite that, Tampa Bay forever maintains a small-town, coastal atmosphere that also embraces newcomers from all over the world.


Recognitions

Here are the top recognitions that Tampa received, thanks to its convenient business climate:

  • Chief Executive Magazine declared Tampa as number 2 Best State for Business in 2020

  • Lending Tree declared Tampa as the number 3 Best metro for new small businesses in 2020

  • MotleyFool declared Tampa as the number 3 State for new small businesses in 2021

  • Tax Foundation declared Tampa as number 4 State best business tax climate in 2020

  • SmartAsset declared Tampa as the number 6 Best place for female entrepreneurs in 2020

You have many reasons for wanting to relocate to Tampa Bay. If you’re in need of companies that offer relocation assistance to the area, Relocate Tampa Bay are the partners for you. Call us at 855-939-0813 or email us at info@relocatetampabayfl.com


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