For decades, Miami has been a dynamic and vibrant city that offers many opportunities for doing business. It is also considered a gateway to Latin America and the Caribbean, which is why it is of great interest to international trade and companies seeking to expand their presence in the region. Its location in southern Florida makes it a major logistical center for the transportation of goods and commerce..
South Florida added thousands of new businesses in 2022, placing the area among the top three metropolitan areas in the country for opening all kinds of businesses, from retailers to law firms.
Benefiting from a demographic boom, the greater Miami area recorded 20,572 new openings — the third largest number in the country — up 14% from 17,971 in 2021, according to a survey by Yelp, the online review platform. Yelp based its ranking on the number of new business listings in Miami-Dade, Broward, and Palm Beach counties.
As a result, South Florida ranked behind Los Angeles and New York City for the highest business growth last year.
Other metro Florida areas also saw a significant amount of new business in 2022. After South Florida, Tampa and Orlando saw the most activity, with 9,419 openings and 8,303 openings, respectively. In all, Florida had a total of 63,519 new businesses, also ranking behind California and Texas statewide.
The upward trajectory of South Florida business growth began in 2021 with a boom in small business and corporate expansions, and activity intensified last year. Largely attracted by the area’s low state taxes, climate and population growth, the companies have opened offices across the region in the past year, including international law firm Winston & Strawn in downtown Miami, Amazon in Coral Gables, and photography and editing app Picsart in Miami. shore.
Chileans in Miami
Miami has become a magnet for Chilean investors, professionals and businessmen who are looking for an opportunity in the United States to internationalize their projects. Just an eight-hour flight from Santiago, the iconic city on the Florida coast beckons to those who see this place as a point of expansion, seeing as its growth has accelerated after it became the number one city for startups in the US. Ranked by the Kauffman Index 2017 and No. 11 in 2019 in terms of investments, it ranks on par with San Francisco, California or New York as a pole for innovation development.
“Many Chilean startups looking for funding realize that Miami has a growing ecosystem of venture capital firms looking to invest in disruptive companies, so they come here looking to join and build their business in a city that embraces innovation,” says Patricio Sepulveda, Inc. President of the Chamber of Commerce between Chile and the United States.
The President of the Chilean-American Chamber of Commerce, established in 1991 and headquartered in Miami, Florida, which aims to promote trade and cultural exchange between Chile and the United States, highlights that “our bilateral relationship with Miami has always been solid, and our association has grown steadily over the years. From Chamber, we provide Chilean companies with the connections and tools to integrate their operations with this city, which is not only a platform for the rest of the United States, but also for the world.”