Sunny Miami tops the Start-up activity list in America

Sunny Miami tops the Start-up activity list in America

Posted by M.Venkatesh on May 19th 2017

Move over Silicon Valley, San Francisco Bay Area and say hello to the "Biscayne Bay Country” in the sun city of Miami, Florida! South Florida has topped the list for start-up activity in America.

According to the Kauffman Foundation’s 2017 Index of Startup Activity, which measures new business creation, the Miami-Fort Lauderdale area ranked No. 1 in start-up activity among the 40 largest metro areas in the U.S of A. The Kauffman Foundation which is based in Kansas City, develops and funds global research and programs in entrepreneurship.

Parameters

For preparing the annual ranking, Kauffman’s analysts parsed government data from 2016 to determine the rate of entrepreneurs opening businesses in any given month, including the self-employed, and whether they are starting businesses because of the market opportunity rather than out of necessity. The index also measure start-up density, or the number of newly created businesses that employ at least one other person per 1,000 companies.

To take the top spot, the Miami metro area ranked up in opportunity share and rate of new entrepreneurs.

“We saw a big increase in the Miami metro area of people who are trying their hands at entrepreneurship full time. Apart from which about 30 percent of all new entrepreneurs are immigrants in 2016, the highest level in two decades” , said Arnobio Morelix, senior research analyst at the Kauffman Foundation and one of the authors of the report.

However, this index solely focuses on new business creation and is limited in what it shows about the entrepreneurship ecosystem. 

In the 2017 Kauffman Index Startup Activity report released recently, No.1 is  Miami , No. 2 is Austin and the list after them were Los Angeles, San Diego, Las Vegas, San Antonio, New York, Phoenix, Houston and Denver.Source MiamiHerald.com

Click here for the full report on the Start-up activity   http://www.kauffman.org/kauffman-index/reporting/startup-activity

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