Miami is just one of the cities where small business ownership is thriving. According to Biz2Credit’s annual rankings, several cities in California, and New York make up the top markets for small business growth, with Miami at No. 1.
Living in Miami for over 10 years now, providing small business accounting and bookkeeping services, I’ve seen first-hand the city’s evolution into a ripe market for small business ownership. The Beacon Council, the official economic development organization for Miami-Dade County, attributes the growth to a community of passionate, diverse and hardworking individuals, coupled with lower tax rates and no Florida state income tax.
There is no doubt those are the qualities of a small business entrepreneur, an independent person pursuing their passion, like our successful client partners encompassing everything from local shops to national franchises.
But I’ve also seen some of the challenges, especially with endeavors close to the heart. Whether you are just starting your business or now growing your business, financial management tools can make all the difference in helping to ensure the success of your business.
In fact, working with business owners for over a decade now, we’ve solved together expensing items that weren’t previously accounted for, ensured financial statements that are simplified for informed business decisions, and even identified the right resources to grow as a professional.
By outsourcing important accounting back office functions like bookkeeping, payroll services, and sales tax filling, businesses can increase profitability, reduce costs, minimize risk and make business decisions faster.
At DCC Accounting, we thrive on supporting entrepreneurs, startups, small businesses to create a stable ecosystem of self-employed and small businesses in local economies across the country.
With the endless opportunities for businesses ownership, here are some tips on managing your finances if you’re self-employed that we shared with Forbes.