FLORIDA (WJHG/WECP) – The Sunshine State has been named the best state in the nation to start a business, according to a new WalletHub report.
The report compared all 50 states across 25 indicators, ranging from financing accessibility to labor costs. Florida ranked as the number one place to start a new business in 2026.
Analysts say Florida has increased the number of small businesses by 16 percent between 2017 and 2023. The report also factors in lower corporate taxes compared to other states and a growing working-age population.
Panama City Mayor Allan Branch says the Panhandle is a big part of the small business growth in the state.
“When I hear that Florida is ranked number 1, it’s no surprise. And I think Panama City contributes a lot to that,” Branch said. “Business is booming here. Small business is booming here. And I expect that. Businesses are flooding to Florida and Panama City because this is the place that brings you closer to success as a small business owner.”
Branch owns several businesses in downtown Panama City. He says that’s one of the main reasons he wanted to become mayor — to help business owners and promote local mom and pop shops.
Utah ranked second on the list, with Texas ranking third.
To read the report, click here.
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