Whether you are starting a new business in Florida, moving an existing business to Florida from another state, or already operating a business in Florida, you will need to be aware of the various registration and licensing requirements which are applicable to your business. Florida corporations usually enjoy a lower tax rate than sole proprietorships or LLCs and tend to be easier to sell or transfer ownership. Either way, it’s important to develop your business idea so you can be confident there’s a market for it, that it presents a viable business opportunity, and that it’s the kind of business you want to own. This publication is general in nature and is not intended to apply to a particular business situation.
What do I need to know to start a business in Florida?
There are various ways to fund a new business, including Small Business Administration (SBA) loans, short-term loans, credit cards, crowdfunding, and others. From Tallahassee to Miami, take your time and consider the pros and cons of each business location wisely. One of the first tasks you’ll need to complete is to determine your business structure, which will depend upon your business type or industry. With an EIN, you’ll be able to open a business bank account, establish business credit, hire employees more easily, and apply for business licenses.
Many business bank accounts come with business-specific perks that can provide value to a new company, such as longer billing cycles or higher credit limits.