Cape Coral has a lot going for it these days, including being one of the fastest growing cities in the U.S.<\/p>\n
Not surprisingly, this kind of growth is spawning businesses and it makes Cape Coral a prime location for entrepreneurs looking to open anything from a new restaurant to a boutique.<\/p>\n
In other words, Cape Coral is becoming a small business haven. And there is new evidence to underscore Cape Coral’s small business success.<\/p>\n
CoworkingCafe just released a study on the best U.S. metros for small businesses<\/a>Cape Coral-Fort Myers ranked No. 5 among mid-sized metros, powered by rapid GDP growth and strong business formation, according to a press release.<\/p>\n The Coworking Cafe study ranked large, mid-sized, and small metros across three key categories: Business Environment, Economic Environment, and Human Capital.<\/p>\n For Cape Coral-Fort Myers, the press release said the findings point to “a rapidly expanding small business market where strong GDP growth and high business formation” helped earn this SW Florida region a high ranking.<\/p>\n What makes Cape Coral-Fort Myers a small business haven?<\/p>\n Some of the highlights:<\/p>\n The metro posted the third-highest GDP growth in its group, up 45% between 2019 to 2023.<\/p>\n Cape Coral-Fort Myers has about 13,700 small businesses per 100,000 residents, with small businesses accounting for more than half of total employment.<\/p>\n New business applications reached over 2,300 per 100,000 residents, the highest rate among mid-sized metros.<\/p>\n Other statistics for Cape Coral-Fort Myers:<\/p>\n Business applications per 100,000 people: 2,332<\/p>\n Small businesses per 100,000 people: 13,759<\/p>\n Small business share of employment: 55%<\/p>\n Self-employment percentage: 14%<\/p>\n More information<\/p>\n You can explore the full CoworkingCafe study here:<\/p>\n https:\/\/www.coworkingcafe.com\/blog\/best-metro-areas-for-small-businesses\/<\/a><\/p>\n Please support local community journalism and stay informed about Southwest Florida news by subscribing to The News-Press<\/a> and Naples Daily News<\/a>; download the free News-Press<\/a> or Naples Daily News app<\/a>, and sign up for daily briefing email newsletter, food & dining and growth & development newsletters here<\/a> and here<\/a>.<\/p>\n