Why Pensacola is a Hotspot for Young Entrepreneurs: Discover the Surprising Rankings!

Young Entrepreneurs on the Rise in Pensacola

PENSACOLA, Fla. -- The number of young business owners is growing nationwide, with Northwest Florida boasting one of the highest rates. According to a report by Simply Business, Pensacola ranks 6th among mid-sized cities in the U.S. for young entrepreneurs.

Networking Opportunities at Co:Lab

Co:Lab, located in Downtown Pensacola, serves as a hub for young business owners to connect. Emily Hopper, a 30-year-old founder and CEO of Dream Agency, shares her experience:

"I’m seeing a ton of new businesses within my friend group and the community."

Hopper left the corporate world to pursue her passion for digital marketing, a journey that began after she sold everything and traveled to discover what truly brings her joy.

Demographics of Young Business Owners

The study reveals that 37% of business owners in Pensacola are under the age of 40. Hopper notes that millennials are driven by a desire to do what they love while aiming to create a better world.

Financial Risks and Rewards

While young entrepreneurs enjoy fewer financial responsibilities, they also face initial financial risks. Hopper points out:

"The first 1-2 years in business can be a little bit tight in terms of money because you’re getting that cashflow started."

Focus Areas of Young Entrepreneurs

Young business owners predominantly operate in digital and creative fields, while also engaging in wholesale trade and finance. Hopper emphasizes the importance of creating a business that protects one’s skills or products, stating:

"You have this skill or this talent or this product and you want to just do that, so you have to create a business around it to protect that."