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Benefits of Starting a Business in Florida


By Akeel Akhter

Starting your very own business is a dream come true for many Americans. There are more than 32 million small to medium-sized enterprises in America, making up to 99% of the total businesses. With the economy continuously flourishing, there are more opportunities for people to start their own business. Owning your own company can help you get a sense of independence and allow you to earn far more money than being a regular employee. Florida may be known for many things, but one thing is for sure, it has some tremendous opportunities for entrepreneurs and professionals.

In today's competitive economy, winning can be challenging. One of those challenges should not be your place of business. This is why Florida has built an atmosphere that allows enterprises like yours to develop rapidly.

Florida knows exactly what you need to start a business that is ready to reach the heights of success. The Sunshine State is prepared to provide you with skilled workforce, world-class technology, global access, and a good standard of living.

Need a little more convincing?

There are plenty of reasons that point to why establishing your own setup in Florida is a good idea. Many young professionals are setting their own enterprise up here as soon as they know what they want to do, because it does take a bit of time before a business starts to show profits.

Here are some compelling reasons why Florida should be a top choice in your list of starting a business.

Florida Entities Can Be Limited Liability

One of the best reasons for starting a registered entity in Florida is that you can get limited liability registration. A limited liability company is registered as a separate entity from the owner itself. In such a scenario, people can deal with the entity itself but not the owners. The business accounts are distinct from the owners, and all the transactions are carried under your company's name. For instance, if your company falls into a lot of loans, your payables will have no right over your private property, and your separate bank accounts will not be sealed. Also, if there is more than one partner, distributing each person's profits and shares becomes easier.

Businesses Have Perpetual Existence

When you put your heart and soul into a business, and it works out well, you want to pass it on to your future generation or the next of kin. In most American states, when a business owner dies, the company is rendered closed. And, if someone wants to continue that business, it is has to be reinstated as new. Starting a business in Florida though is the opposite of this. Suppose you want to pass on your business to another person or the ownership changes. This is altogether possible, and the company will not have to be registered as closed. Instead, new owners can continue the business from where you left off.

Hub for International Market

Florida hosts many regional and hemispheric headquarters for businesses across the U.S.. It also has a flourishing banking hub for the financial experts and a diplomatic center. This gives good indicators that plenty of people are interested in starting their own business here. If you look for homes for sale in Davenport, FL, you will be near many tourist sites that will help you net more attention. Apart from this, since there are plenty of financing opportunities for people, many foreign companies set up other Florida operations. Some common examples of such businesses are warehousing, shipping, and processing. You need to move to Florida if you want to reap the benefits of the state's convenient opportunities for investment.

Creative Infrastructure

The state is a significant tourist spot in America and is a major contributor to the American economy. The Sunshine State also has comprehensive transportation systems including for train, ground and air shipping. Everything is organized and runs well, from high-end international airports with extensive facilities to shipping ports and highways. They are working on developing it even more as well. Apart from physical communication, there is high-quality data transmission from the US to South America and even Africa. This is indeed a great system for businesses that want to establish themselves from Florida.

Low Taxes

Taxes are pretty low in Florida. In fact, there is no state sales tax. Many companies and entrepreneurs know these rules and are aware of the amount of money they can make by establishing a business. Businesses work well when they save a lot of money. Florida is one of only a few states in America that doesn't have a personal income tax - this makes it extremely attractive for businesses, such as LLCs, to establish themselves. Florida's sales tax is middle of the road on taxes for rented or purchased goods at 6%, excluding groceries and medicines. Corporations in Florida must file a corporate income tax return, but at a low top rate of 5.5%.

If you have a fantastic business idea that you think will work - move to Florida and start your setup. It often doesn't take long before you are making your profits.

Apart from this, the cost of establishing a Florida company is not expensive. The cost of starting a business can vary depending on the exact nature of your company, so you'll want to access the right resources. However, many businesses are establishing here due to being one of the lowest in the US. A standard fee to incorporate a company is only around $100. Obviously you will want to talk with your tax accountant and business attorney to make sure you comply with the state fees and regulations, but there are plenty eager to help, and for low fees.

Employee Benefits for Your Team

Many Florida companies incorporate education and development into their workforce, so finding qualified employees should be little trouble. You will be able to incorporate a number of workers' compensation programs, such as equity option plans and so on, that will also help retain your employees due to good benefits you provide. Furthermore, you will be entitled to subtract from your taxes the expenses for what you pay for employee injury and life care benefits. If you are planning to start a large-scale setup, then don't hesitate to hire a great team. Actually, there are a lot of young professionals and new talent shifting to the city. This can be determined by looking at the number of homes for sale in Lakeland, Fl, many booked by non-Florida residents. When you hire a team, make sure that you go for people who share the same vision as you because only then will you be able to achieve your goals.

Tourist Site with Plenty of Growth Options

There are tourist spots all over the state. This means that the businesses running in the state are bound to flourish with proper marketing techniques. Some tourists even visit the state in colder seasons. All year round, there are people from across the world trying to explore the wonders of the Sunshine State. A stream of tourists allows businesses to grow and increase their sales. It's alright if one season didn't go that well because you always have the opportunity to cover your losses or lack of business in the tourist season. Spring and summer are the busiest, and many businesses earn profits that help cover for the whole year during that time.


Florida, known as one of the most relaxed and fun states of Americ, gives its entrepreneurs and young professionals extraordinary opportunities to grow and start a business. From low taxes to employee benefits and business growth as an LLC, there are a lot of benefits of starting a business in Florida. If you have a great business idea that is unique in the market and has the potential to grow, do not hesitate to start your own thing. It is good to work in a job that pays well, but it is even more fantastic to start your own business.

Benefits, Business, Costs, Employee, Employer, Entrepreneur, florida, Limited Liability Corporation, Taxes, Tourists


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