Marty Davis, Managing Partner, Legal Solutions Group I Chairman, Greater Miami LGBTQ Chamber of Commerce

Invest: spoke with Marty Davis, managing partner of Legal Solutions Group and chairman of the Greater Miami LGBTQ Chamber of Commerce, about the financial and operational pressures facing Miami’s small businesses, the increasing importance of risk planning in a fast-moving regulatory environment, and the chamber’s expanding role in connecting LGBTQ and allied enterprises to opportunity. “Goals aren’t money. Goals are what money can buy or what can be done: freedom, the ability to travel, taking care of your family, leaving a legacy for your children or other families, giving back to the community,” he said, emphasizing the deeper purpose behind strategic legal and business decisions.

How would you characterize the environment for entrepreneurs and small businesses in Miami?

Miami is a small-business city. We lead the country in the percentage of small enterprises, and with that come recurring challenges that have remained consistent for more than two decades. The biggest one is capital. Too many new businesses underestimate the amount of staying power they need to reach sustainability, and they often operate on a razor-thin margin in their early years. Financial strain also translates into operational strain: risk management, financing structures, growth planning and questions about how to organize teams, partners and shareholders.

Layered onto that are dynamics specific to South Florida. Tariffs and trade policy shifts affect a large share of local businesses that import goods. Immigration changes influence workforce stability and compliance obligations. And overall, the pace of change — economic, political and regulatory — is extremely fast. Whether I’m looking at it through my legal practice or through the Chamber, the throughline is the same: businesses need stronger planning, better documentation and a clearer understanding of how external forces impact their day-to-day operations.

How does your legal practice support business owners in navigating that complexity, and what distinguishes your firm’s approach?

Experience plays a major role. After 40 years of practicing, I’ve seen most of the challenges that come across a client’s desk. But technical experience only goes so far; listening is just as important. My team and I focus on understanding what clients actually want to achieve, what obstacles stand in their way, and which structures will protect them as they grow.

We spend a great deal of time helping clients understand risk. Florida is one of the most litigious states in the country, and many issues that could have been prevented with upfront planning end up becoming costly disputes. I advise every business to have a core set of foundational documents — roughly a dozen of them — because a handshake only works when everything goes perfectly. If there’s a problem, documentation is what protects you.

More broadly, I encourage clients to think about their goals in real terms. Goals aren’t money. Goals are what money can buy or what can be done: freedom, the ability to travel, taking care of your family, leaving a legacy for your children or other families, giving back to the community. When you start with that understanding, legal strategy becomes a path to a better and more intentional business life.

From your vantage point, what are some of the most overlooked pitfalls new business owners face in Florida, and how can they avoid them?

Fear drives many early decisions. Business owners worry about not making it, not having enough clients, or not being able to deliver once work comes in. That fear often leads them to take on work that isn’t a good fit. One sign of a strong businessperson is knowing when to “fire” a customer because the wrong client can create long-term issues.

Another pitfall is cash flow discipline. Many small businesses use revenue from the next job to pay for the previous one, and that cycle is hard to break. Owners need to segment jobs and customers so they can complete one commitment before taking on another. Adequate insurance, proper contracts, and clear expectations are equally essential. And importantly, owners need a team of experts around them — people who know more than they do in certain areas and whom they can rely on when questions arise.

What legal and regulatory trends do you see shaping Miami’s small-business environment over the next few years?

Tariffs will remain a defining issue, especially for companies that import goods. If your product suddenly carries a 25% or 50% higher cost because of a tariff change, you may not be able to pass that along to your customer. Businesses need a precise understanding of classifications, tariff codes, and programs that help stabilize exposure. Larger logistics providers like UPS offer resources that can help businesses predict and manage these cost swings, and I’m impressed with the work being done in that space.

Immigration continues to be a major factor. Employers must make sure employees feel secure while also remaining fully compliant with federal and state requirements. Technology is another major driver. If you’re not using AI, you’re behind the curve — and if you’re only using ChatGPT, you’re still behind the curve. These tools evolve daily, and business owners need to spend real time understanding how to apply them. Across all of these issues, having a knowledgeable team — internally and externally — is what helps businesses pivot as the environment changes.

How do you and your firm stay ahead of those shifts to ensure clients remain compliant and well-informed?

It starts with recognizing that no one can be an expert in everything. Depending on our book of clients at a given time, we may be more deeply involved in certain regulatory areas or industries. But the common thread is continuous learning. I spend roughly half of my time staying up to date on developments that affect my clients, whether that’s regulatory requirements, economic changes or technology trends.

We work closely with consultants, specialists and other professionals. Part of my job is knowing who the right expert is and when to involve them. The key is to listen carefully, recognize when an issue falls into highly specialized territory and bring in the person best equipped to address it. That’s how you reduce risk and help clients stay on the right side of fast-moving developments.

As chairman of the Greater Miami LGBTQ Chamber of Commerce, how do you support LGBTQ-owned and allied businesses?

Our goal is to create consistent opportunities for education, networking, and visibility. The chamber hosts at least one event every week, whether it’s an educational workshop, a networking gathering, or a virtual program designed to help members stay informed. We also certify small business enterprises, which opens doors to procurement opportunities with major corporations through a national network of LGBTQ chambers.

We recently hosted Allstate executives, who walked through exactly how small businesses can become part of their supplier network. Allstate has a $3 billion annual spend and is actively looking for diverse suppliers. Opportunities like that can be transformative for the right business.

On the local side, annual LGBTQ consumer spend in Miami-Dade County is about $15 billion. A key part of our mission is connecting businesses to that economic engine. Our events, such as the annual Holigay Celebration & Toy Drive in Miami Beach, which draws hundreds of attendees, allow businesses to showcase their products, sell gift cards, and meet potential customers face-to-face. These gatherings blend community-building with real commercial opportunity.

How do you see Miami’s business community evolving, especially amid political, economic, and demographic shifts?

Miami is in a period of transition. Political leadership is changing, the economic landscape is shifting, and the expectations placed on local institutions are growing. That creates complexity, but it also creates opportunity. The city is attracting capital and talent, and organizations like chambers of commerce help ensure that growth is inclusive and beneficial for small businesses.

From both legal and chamber perspectives, I see a community that wants to grow but also wants to maintain its character. That requires thoughtful planning, collaboration across sectors, and a clear understanding of the challenges ahead, from infrastructure and affordability to transportation and workforce needs. The business community is nimble, but staying relevant requires constant learning, strong partnerships, and a willingness to evolve.