Ways & How

how to start a business in Florida

how to start a business in Florida

Putting up a business in Florida isn’t really that hard as long as you know how to go about it. Assuming the motivation is there and the needed capital is ready, what you need now is to discover the tricks for how to start a business in Florida. Any business entity needs legal organization to operate fully. Full operation means being able to enter into legal contracts, purchase the needed goods and sell them, pay obligations to the regulating state, and all other matters that will help the business reach its full potential to grow. Before making the leap, consider the following five tips so that you can maximize your earning potential. Remember, it takes a strong person to succeed. Risks are always there to challenge you, but nothing beats an equipped and determined mind.

  1. Determine the kind of business you like. There are several choices of business ventures in Florida, like sole proprietorship, joint venture, partnership or corporation. For sole proprietorship, you do everything from the pooling of capital, the actual operation, up to the management.

    If your current funds aren’t enough, partnership is a better choice because you’ll have someone to help you with capital. No matter which business structure you choose, you’ll have different responsibilities to the state, particularly in terms of taxes. Refer to the Department of Revenue for more on this regard.

  2. Register your chosen business name. There’s a possibility that you may not be able to use your preferred business name. This is especially true if there’s already an existing name the same as yours. The clearing process for your business name is done in the office of the Florida Division of Corporation. To save time there, search on the FDC website first for your preferred name. The site will inform you then whether your name is cleared or not. When it’s cleared, then you can go to the FDC personally. Prepare your vital information such as your contact numbers and accurate business description, as the FDC will ask you for it.

  3. Secure your business license. Such a license will serve as your permit to operate. In this case, you have to see the licensing division of the Department of Business and Professional Regulation office. If you aren’t quite familiar about how the licensing process works at the DBPR, it’s strongly recommended that you visit its website for detailed instructions. Have the required fee ready, depending on the type of business you have, so you can get your license without delay.

  4. Apply for your tax license. Taxes are the very lifeblood of the government. Without taxes, the government wouldn’t be able to deliver basic services to the people. As a business entity in Florida, you’re legally obliged to pay your taxes in exchange for the protections and services afforded to you by the state.

    To get set up to pay taxes, see the Department of Revenue. You may also register online if you like. Supply the needed information such as your business name, the services and product lines you’re into, your contact numbers and other related information. When your paperwork is approved, you’ll receive your tax certificate.

  5. File for the issuance of your Employer Identification Numbers. In Florida, you apply for your EIN at the Internal Revenue Service. Ask for a copy of Form SS-4 to begin your application. If you like, you can also visit website of the IRS for more information. Understand that you can’t file your taxes or the income tax returns of your workers without the EIN.

    Note that in the event you fall behind in filing your taxes and eventually fail to pay the taxes due, it’s a violation of law and you may be sued for tax evasion. So, tend to your taxes very carefully.

You now have an understanding of how to start a business in Florida. Use these tips to your advantage and get started on legally forming your own business more easily.


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