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Florida fares well in noted entrepreneurship study

A well-regarded survey of U.S. entrepreneurial activity has found that while our country has a long way to go before it reaches the economic heady days of the late 1990s, several demographics of entrepreneurs have not significantly diminished the rate at which they are founding new businesses, or have bounced back to close to pre-recession levels.

The report also recognizes Florida as one of the states that fell the furthest in the recession of 2008, but also made among the most significant climbs back. Although the report did not mention Orlando specifically, it did say Miami was one of the best-performing cities in terms of residents founding new businesses.

The Kauffman Index of Entrepreneurial Activity, as it is called, was released earlier this month. It is a very extensive study, but to sum it up, it could be said that during and after the recession of 2008, most of those who put their plans to start a business on hold were white men.

Women, minorities and recent immigrants did so less frequently, and they have founded businesses at a greater rate since the worst days of the recession.

Florida has been recognized as a leader in supporting women who found businesses, and we have high populations of recent immigrants and minority entrepreneurs. These are among the reasons Florida has remained a business engine of the southeast U.S., if not the entire country, even at the same time it faced significant economic turmoil.

In our office, we regularly work with entrepreneurs and the owners of young businesses, so we are proud to see that our state has fared so well in this study.

Source: The Kaufman Foundation, "The Kauffman Index of Entrepreneurial Activity," Robert W. Fairlie, April 2013

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