How To Start A Business In Florida
Entrepreneurship in Florida
Florida natives have invented everything from the first computer to sunscreen. And thanks to John Gorrie’s advancements in air conditioning we can stay cool, and still enjoy the heat of Florida.
With people like Jeff Bezos (founder of Amazon), and the scientists from Florida University (who created Gatorade for the school’s football team) to look up to, the people of Florida love to lead entrepreneurial teams that change the world.
As the birthplace of NASCAR and spring break, and as a popular tourist destination, the sunshine state is a great place to start your small business.
Registering Your Business
Registering your business is one of the first steps to success.
And with Florida’s 125 dollar fee for starting an LLC, it's important you get it right.
Decide what kind of model is right for you (LLP, LLC, Corporation, Sole Proprietorship). Most small businesses start with an LLC. If you’d like an LLC, S-Corp, or C-Corp done for you, we’d be happy to do that on your behalf.
Before you start your business, look around to understand the market in Florida.
With an abundance of rich natural resources, Florida has a ton of business potential.
According to TaxFoundation.org, Florida takes an awesome 1st for the individual income tax rak and 4th overall.
Another good way to understand Florida’s market is to visit your local Chambers of Commerce.
You can use your local chamber of commerce to identify opportunities and threats in your local community. It’s a great way to get started on the bottom 2 quadrants of your SWOT analysis.
We’d recommend looking through it and identifying competitors in your industry, and identify the points of parity you need to live up to, and how to better leverage your points of differentiation.
Florida is full of hard working people that can be amazing assets to your company.
Unemployment rate in Florida:
Information from Florida.gov
Average annual salary in Florida:
24.96 dollars an hour
Information from Zip Recruiter
Education levels for residents of 25 and older:
High school degree or higher:
Bachelor degree or higher:
Information from World Population Review
Price index yearly growth: 20.84%
Medium house price: 215,300 dollars
National average house price: 269,039 dollars
Florida is a unique place to start a business. We hope that the resources and points we brought up here will help you start a business there.
If you’d like to dive deeper into how to start a business, check out our much longer article How To Start A Business. Use both of them to get started on the right foot from day one.
About the Firm...
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