How to opening a business in florida
If you are one of the people you ask: How to start a business in Florida?. Starting up a business anywhere is a big deal and requires proper planning. Anybody with the intention of establishing a business in a place like Florida must understand the business, the place the business is to be sited and the necessary steps in order to achieve this.
Florida is also known as the sunshine state and the 3rd most populous state in the country with over 21 million inhabitants. It is one of the states in the USA that supports almost all kinds of business.
It has the perfect population, perfect exposure and perfect market size.
Steps to take for anyone intending to start a business in Florida:
Run a thorough research on how to start a business
Every day, people ask questions like; how do I start my own business? Well, the first thing and most important step to take as soon as you get your business idea are to undergo thorough research on how to start.
As mentioned earlier, it is important for you to have sufficient knowledge of the procedures in starting the business. You can start by consulting websites, books and people who already have a successful business in Florida.
Also, make sure to source for materials on tax and company registration.
Decide on a Business Structure
After researching on how to start your own business, the next step is to choose a good business structure that works well for you and your type of business.
There are three basic structures you can use to start your business in Florida.
These structures are:
- Doing Business As (DBA), a Corporation or an LLC: A “DBA” is also known as a Fictitious Business Name (FBN). This is a made up name that the business owners or partners use as their business name.
- A Corporation: This structure provides liability protection to the owners of the business. It is usually made up of the shareholders, directors and officers. This structure is more complex than a DBA but is the best structure for large companies with the aim of raising funds. A Professional Corporation (PC) is a special cooperation for professionals like lawyers, architects, doctors and so on.
- An LLC: The Limited Liability Company is the most commonly used structure, this is because it is easy and it does not require officers and directors. The taxation of this structure is easy to manage. LLC in the USA also provides liability protection for the business owners.
Choose a business name
The next step after choosing a good business structure is the choice of a good business name.
Picking a name for your business might not be as easy as you think as there many things to consider, in order to avoid legal issues in the future.
A unique and easy to pronounce name is advisable for new businesses. Also, using an already existing company’s name should be avoided by thoroughly searching to know if the name you chose has not been taken.
Registration of the business
After getting a suitable business name, the next thing is to proceed to the registration of the business. The first step to take, is to file the necessary paperwork, either through mail or electronic means with the Florida Department of State Division of Corporations.
After that get a registered Agent, as this is a necessary requirement for every Corporations and LLC in the state.
The Agent provides their address and sends any important documents to you.
Get your Federal Employer Identification Number (FEIN)
It is important for every LLC and corporations to get their FEIN. This identity number act has a social security number, that protects registered businesses against identity theft.
Get a business license
A business license refers to an authorization that allows you to do business in a particular city or state. After registering the company, the next step is to get a business license.
The registration for state taxes and permits is also a part of the licensing process.
How to open a company in the USA as a non-resident
A non-resident of the United States also has the opportunity of starting a business in the country. It might be a little difficult as having a business in the USA doesn’t actually guarantee living there, hence, difficulty in monitoring it.
A business plan must be created and some steps must be taken when starting a business in the USA for nonresident.
Know the kinds of corporate structures that can be opened in the US by a non-resident
The only structures available for a non-resident to open a business in the US are the LLC and Corporation. Therefore, choose the one suitable for your business.
The C- corporation is a type of cooperation for non-citizens but the LLC is highly recommended for businesses because it provides the business owners with liability protections.
Get a visa to live in the US
This is not entirely necessary as businesses could be successfully set up in the US without the constant physical presence of the business owner. There are numerous visa options that the business owner can choose from.
Register the company
Choose an advisor to accompany you in the process of registering your company. Registering a company in the USA involves picking a very good state with enough resource to support your business, just like; Florida. Then, choose a unique and available name for the company. After this, you proceed to get an agent and register the business, then proceed to get a Federal Employer Identity Number and a business license.
This covers the basic steps required to start a business in Florida, USA.