Dear Fellow Floridian:
For the first time since 2009, Florida is in the top ten of states
for venture capital investment. During the second quarter of this year,
$94.8 million was invested in eleven different ventures, which is an
increase of 168 percent from last quarter when Florida ranked 20th in
What does all this mean for our state’s economy? Venture capital
provides the funding needed by start-ups when times are the most
uncertain. The amount of venture capital investment means the difference
between success and bankruptcy, determining whether or not a start-up can generate innovative products and create jobs. The increase in venture capital activity in our state
is a strong indication that investment in Florida is on a steady trend
upward and that new, high-wage jobs will continue to grow and take root
in our state.
But Florida still has a long road ahead. Our second quarter
investment accounts for only 1.4 percent of the total venture capital
investment made nationally. Florida is consistently out-paced by
California, New York and Texas. We have to do better. One of the ways we
are breaking out of our economic entrenchments is through higher
education. We continue to see business incubators and entrepreneurship
programs take hold at our universities that nurture Florida’s young
entrepreneurs, connect start-ups with resources, and introduce new
industries to the state—creating jobs for our fellow Floridians.
Through a stable tax system, a regulatory climate that does not
discourage venture capital investment and reduction of burdensome
government red tape, we can help to create the conditions that encourage
start-ups to grow and thrive in Florida.
Chief Financial Officer
State of Florida
Forum: Strengthen Your Small Business
Diversifying our economy is necessary for long-term prosperity, but
it is vital that small businesses grow and prosper in Florida. That it
why CFO Atwater is partnering with The Jim Moran Institute to host the
2012 Small Business Leadership Forum in Tampa on Sept. 6-7, 2012. The
forum will provide access to resources and information to positively
impact your small business bottom line.
Explore the Forum website
to find featured speakers, panel topics and how to connect via social
media before the event.
The forum is an opportunity to hear directly from Florida’s
small-business community to collect feedback so that Tallahassee can
help improve our state’s business climate.
As an integral part of the College of Business at Florida State
University, The Jim Moran Institute's mission is "to cultivate, train
and inspire entrepreneurial leaders in the community through world-class
education programs and curriculum, intensive consulting assistance and
mentorship to entrepreneurs and business owners..." As a partner in the
forum, JMI brings the exact experience needed for your entrepreneurial
Representatives from universities across the state will share how
they are leveraging their resources to promote a thriving economic
environment, and what that means for your business in Florida.
Pat Pallentino, director of the Sales Institute at the FSU College of
Business, will present best practices for small business owners selling
their products or services, with an understanding of “Best in Breed”
selling concepts, SPIN questioning techniques and strategic account
Read about the forum, its agenda and registration at
ALERT: Beware of Misleading Offers of Assistance for Deepwater
As often happens following a disaster, opportunists seeking to take advantage
of a situation begin to appear. This may be happening in the Panhandle of
Florida as people offering help in the aftermath of the Deepwater Horizon Oil
Spill – or related problems – have appeared.
A woman who appeared to be offering legal advice set up shop in Panacea last
week claiming in a town hall-style forum that chemicals sprayed following the
oil spill are making the residents sick and that it isn't safe for them to work
on the water or sell their seafood. Claiming to represent a Texas law firm, she
intimated that she was there to help people get paid and prevent further
sickness. The woman’s actions and offers are being investigated.
Floridians are urged to thoroughly review and consider such offers of
assistance in accessing remuneration. The official claims process is outlined on
Deepwater Horizon website and any updates to the process will be posted as
Florida’s Bottom Line focuses on Florida’s small business community
and how to provide a stable economic environment so that we can continue
to help businesses flourish and expand.
The companion website features business news updates and
Florida By the Numbers, a collection of key statistics illustrating
important changes in Florida’s economy over the past month. The latest
data is shown on topics such as consumer confidence, unemployment rate,
new foreclosure activity and Florida's leading, stock and retail index
graphs. Updates are made as new stats become available.