Miami is a city that attracts investors from all over the world. It has a rich cultural diversity and a stable economy that makes it attractive to many.
Latino entrepreneurs in Miami are increasingly influential in a city that concentrates good reasons to live and do business.
Why does Miami attract Latino entrepreneurs?
We can list 3 main reasons:
Geographical location
Its location is fundamental. Miami is located in the south of the United States, facing the Caribbean. This makes it the ideal destination for many immigrants, because it has a mostly tropical climate. In addition to the advantages of living in the American giant.
This is attractive to entrepreneurs. They prefer to expand into a place where they feel more familiar, such as Miami. It is worth remembering the cultural diversity of the city. It is inhabited by many Cubans, Puerto Ricans, Mexicans and other Caribbean nationalities. This increases the chances of successfully arranging any type of venture.
Language
That’s right. There is no doubt that this is one of the most relevant factors. Miami is the only city in the United States where you don’t need to speak English. In fact, any type of business can be conducted in Spanish, because it is a mostly bilingual society. Although most legal documents, laws, teaching and other systems are in the official language, the general population is fluent in Spanish.
In the case of Latino entrepreneurs in Miami Not mastering English is not a big barrier. This increases the chances of increasing the flow of investment in this city.
Economy
According to Miami-Dade County figures, there are more than 400,000 registered businesses by Latinos. The Hispanic Business list ranks Miami’s most prestigious Hispanic-owned businesses. Such is the case of the Adela Gonzalez employment agency, Future Force Personnel, with revenues of up to $17.75 million a year.
This has evolved the economy of a city that is positioned as the third financial center of the country. This is largely due to low taxes and ease of investment for foreigners. Which is undoubtedly attractive for a Latin American entrepreneur who wants to invest in a stable place.
Latino Entrepreneurs in Miami
Latino entrepreneurship in this city is constant. According to the consulting firm PFS Realty, Colombians and Venezuelans are the Latin Americans who are investing the most. It is followed by Mexicans, Brazilians, Peruvians, Ecuadorians and Central Americans.
The largest percentages of Spanish speakers are located in Broward, Miami-Dade and Palm Beach counties.
The president of PFS Realty estimates that to be an entrepreneur in the United States the amount of the investment is usually about USD $ 150 thousand and you can also opt for the investor visa. One more reason for many to find investments in the city doubly attractive. According to the director of the Pino Global Entrepreneurship Center, Florida International University states that:
The Miami area has always been a great destination for the business community (…) We attract many entrepreneurs from all over Latin America; especially middle and upper middle class.
According to the consultancy, nine out of ten Spanish speakers own a successful firm or franchise. Thus, that Latino entrepreneurs in Miami are above all investing in food businesses, services, stores and in the
Real estate sector
. Above all, what this shows is how simple it can be to invest in this city.
Source: https://www.invitar.com/
