Florida Small Business Statistics: 2026 Data & Facts

Florida is the third most populous state in the United States and home to 3.5 million small businesses. The Sunshine State also has the fourth largest state GDP in the country, at $1.1 trillion. If it were a country, Florida would rank as the 16th largest economy in the world. Here's what the data reveals about small business in Florida.

How Many Small Businesses Are in Florida?

Understanding the number of small businesses in Florida helps paint a picture of the state's entrepreneurial landscape. According to the SBA Office of Advocacy, Florida ranks among the top states for small business activity.

• There are 3.5 million small businesses in Florida, accounting for 99.8% of all businesses in the state.
• Florida small businesses employ approximately 3.8 million people, representing 39.6% of the state's private workforce.
• Micro-enterprises employ 41.6% of all private-sector employees.
• 88% of employer businesses are small firms that employ fewer than 20 people.
• SME exports account for 63% of all state exports, well above the national average of 33%.

New Business Formations in Florida

Florida has seen remarkable growth in new business formations since 2019. The state consistently leads the nation in entrepreneurial activity, attracting founders from across the country.

• In 2023, Florida recorded 667,031 new business applications, more than any other state in the nation.
• Since 2019, more than 3 million new businesses have been launched in Florida.
• On average, approximately 1,830 new businesses are opened in Florida every day.
• Between March 2023 and March 2024, the state saw 111,346 establishments open and 94,744 close, for a net increase of 16,602 businesses.
• Small businesses alone accounted for 100,178 openings and 85,944 closures during this period.
• The Tampa Bay area has doubled its applications, growing from around 50,000 in 2019 to more than 90,000 per year.
• According to WalletHub, Florida ranks sixth in the country among the best states to start a business.
• Since Q3 2014, the state has ranked first in new business applications in the United States.
• Florida has a 50.2% startup success rate.

List of Small Business Industries in Florida

The list of small businesses in Florida spans nearly every sector of the economy. Professional services lead in total count, while accommodation and food services remain the largest employer among small companies.

• The accommodation and food services industry has the largest share (14.9%) of small business employees in the state, totaling 520,601 workers.
• Professional, scientific, and technical services make up the largest percentage (12.7%) of all small businesses.
• The mining, quarrying, and oil and gas extraction sector has 1,598 small business employees, making it the smallest industry in the state.

Florida Business Sales Statistics

Florida remains an active market for business acquisitions, with thousands of transactions closing each year. The BizBuySell Insight Report tracks median sale prices and transaction volumes across the state.

• The median sale price for businesses sold nationally in 2024 was $345,000, up 3% year-over-year.
• In Q3 2025, the median sale price dropped to $320,044, down 2% YoY and 9% QoQ.
• The median revenue for businesses sold was $674,500.
• The average cash flow multiple stands at 2.57, up 3% from the prior year.

Florida Regional Business Sales Data

Regional markets in Florida show varying levels of activity. Tampa and Orlando remain the most active metros for business acquisitions.

• Tampa region: 1,093 transactions with a median sale price of $350,000.
• Orlando region: Median revenue of approximately $750,000 for businesses listed for sale.

Small Business Statistics by Florida County

Florida's counties each have distinct economic profiles. Orange County leads in business growth, while Volusia and Brevard continue developing their entrepreneurial ecosystems.

Orange County Small Business Statistics

Orange County, home to Orlando, has experienced significant business growth over the past decade.

• 76,000+ establishments with employees as of 2022.
• 11,000 new businesses added between 2017 and 2022, a 15% increase.
• Small businesses with fewer than 5 employees grew by 22.5% during this period.

Volusia County

Volusia County's economy centers on tourism and healthcare, with steady small business growth in both sectors.

• Home to 14,000+ total businesses.
• Key growth sectors include tourism and healthcare.

Brevard County

Brevard County, known for its aerospace industry, maintains a diverse small business community.

• Population of 621,000 residents as of 2023.
• Median household income of $75,817.
• Currently 141 businesses listed for sale on BizBuySell.

Florida Business Owners Demographics

There are approximately 1,504,852 business owners in Florida. The state attracts a diverse mix of entrepreneurs across age groups and backgrounds.

• 421,820 business owners (28%) are under 40 years old.
• 8.5% of workers under 40 own a business, compared to 6.4% nationally.
• Female ownership represents 46.4% of all business ownership.
• Veteran owners make up 5.0% of the workforce and 5.0% of ownership.
• Hispanic business owners represent 28.7% of the workforce and 36.9% of ownership.

Florida Small Business Employment

Small businesses drive job creation across Florida. Between March 2023 and March 2024, they contributed the majority of net new employment in the state. Business owners must stay compliant with Florida annual report requirements to maintain good standing.

• Small businesses created 139,887 net jobs, accounting for 77.4% of total job growth.
• New and expanding establishments added 180,748 jobs.
• Closing and contracting establishments lost 930,430 jobs.
• Small business employment in Florida grew 36.6% between 1998 and 2022, outpacing the national average.
• Mom-and-pop businesses support an estimated 50% of the state's economy and create 75% of net new jobs.

Starting a Small Business in Florida

LLC Formation Requirements

To establish your small business officially, you can form a Florida LLC, which provides liability protection without state income tax. Florida state law requires that every new Florida LLC designate a Florida registered agent available during regular business hours at a physical address within the state.

• The cost for acquiring a business license is $125. It can be higher if you need additional permits.
• Processing time for forming a Florida LLC is between six and eight business days.
• Before filing, search Florida business names to ensure your preferred name is available.
• If a business owner wants to change their business name, they must file for a DBA (Doing Business As). DBAs are valid for five years and renewable thereafter.

Florida Minimum Wage for Small Business Employees

The minimum wage in Florida has increased significantly since 2020. Under Amendment 2, the rate continues to rise annually.

• The current minimum wage is $14.00 per hour as of September 30, 2025.
• This rate will increase to $15.00 per hour on September 30, 2026.
• Beginning September 30, 2027, annual adjustments for inflation will apply.

Florida Business Taxes

Florida offers significant tax advantages for small business owners, particularly those structured as pass-through entities. For detailed information, see our guide on Florida LLC taxes.

• Small businesses are mostly classified as S corporations, which means they are not subject to the state's 5.5% corporate tax.
• S corporations protect small firms from paying any state income tax, whether on individual income or on business income.
• Small businesses that are LLCs are classified as partnerships or disregarded entities and are exempt from paying state income tax because they are not corporations.
• In the rare case that a small firm is also an incorporated LLC, it is liable to pay a state income tax of 5.5% or the alternative 3.3% minimum income tax.

Sources

• SBA Office of Advocacy – Florida 2025 State Profile
• U.S. Census Bureau – Business Formation Statistics
• BizBuySell Insight Report
• Florida Amendment 2 – Minimum Wage Information
• Orlando Economic Partnership
• Volusia County Economic Development
• U.S. Chamber of Commerce – State Business Applications