6A, Identifying Opportunities in Economic and Regulatory Trends

Economic Trend: Florida Tourism

A) Article on Investopedia.com

B) The article outlines how millions of tourists visit the State of Florida each year and those numbers are steadily increasing each year.

C) Domestic and foreign tourist would be the intended target

D) I frequently travel and while on vacation I am always open to try a new or unique activity.  Therefore, I believe that this would be an easy opportunity to exploit.

There would be millions of potential customers available.  However, you would need something unique to draw their business as there are many of activities and attractions within Florida, not to mention the activities that they could do for free, such as going to the beach.  With that being said, there are numerous opportunities that would require little capital to get started.


Economic Trend: International Trade

A) Article on Investopedia.com.

B) Florida is important player in exporting from the United States and is a strategic location in getting items to Latin America.  40% of all exports to Latin America flow through Florida.

C) Foreign nationals in Latin and South America along with expatriates from those countries

D) From personal experience, this would be an easy opportunity to exploit as there are millions of individuals with either families or ties to Latin America living in the United States.

This is a big business, which is also fragmented, totaling over $55 billion in exports from Florida.  Therefore, it creates an easy entry into the market with low start-up costs as the business owner can act as a middle man by renting space from shippers and then taking smaller items from the general public to fill these rented containers.



Regulatory Change: SB 1552, Florida Red Tide Mitigation and Technology Initiative

A) Floridasenate.gov

B) Red Tide has caused devastating effects to Florida's coastline and tens of millions of dollars in damage to the fishing and tourism industry and there have been no solutions on how to combat the issue.

C) National, State, County, and Local governments would be customers if a solution could be developed.

D) This opportunity would be difficult to solve, but not exploit as in this instance the State of Florida has earmarked $3 million a year for six years to be dedicated to this issue.

The more individuals you have working on a solution the quicker one will be achieved.  A submission for grant money from the recent initiative could provide funding to a start-up to begin working on a plan to fight this issue.

Regulatory Change: HB 49, Dignity for Incarcerated Females Act

A) Myfloridahouse.gov

B) Since this is a new law, my thought is that these large institutions managed by the government would need suppliers to fill their needs.

C) State prisons and City jails would be the intended customer

D) As with all government entities, there would be a tremendous amount of red tape involved, but once that was sorted, the obtained customer would more than likely be a large source of revenue for an extended period.

With previous experience in working with the government, they normally are not working ahead, but from behind.  Therefore, if you can present the individual in charge of making the decisions with an easy solution, it may be an easy way to get started with a lucrative contract.