Starting a Business in Florida through an LLC or a Corporation

Why So Many Entrepreneurs Have Chosen Florida to Start a Business

Florida is the fourth-largest economy in the United States and one of the most resilient American states. During the pandemic, Florida’s economy experienced a 2.8% downturn while the rest of the country recorded a GDP contraction of -3.5%. In addition to these positive economic indicators, the cost of living in Florida is lower than other financial centers in the country, such as New York. Florida is a promising and economical place in the United States to open and manage a small business. Here are some reasons why it makes sense to go to Florida to enter the American market:

• Small businesses are an essential part of Florida's thriving economy. Small businesses make up 99.8% of all businesses in Florida and employ 41% of the state's workforce, about 3.5 million people.
• Companies established in Florida enjoy significant tax advantages: corporate income tax is 5.5%, and no personal income tax exists. Moreover, specific categories of products (such as food and medicine) are exempt from sales tax.
• The stable economic environment makes the state suitable for investment. In Florida, various innovation incubators and startups attract many entrepreneurs.
• Florida's strong economic performance is also a result of the low unemployment rate. As unemployment decreases throughout 2022, companies will be able to attract workers thanks to numerous work benefits packages and policies for paid leave (PTO)

The Most Frequently Asked Questions About Starting and Managing a Company in Florida

How to Start a Business in Florida?

To start a business in Florida, it is necessary to check for any required licenses with the Department of Business and Professional Regulation. If the company has a fictitious name, it must be registered with the Florida Department of State.

What Are the Costs to Open a Business in Florida?

Depends on the type of company. In addition to these costs, a business license is required (almost always).

Where to Check License Requirements and Permits?

Check with the Florida Association of Counties, the Florida League of Cities, and the Florida Small Business Development Center Network. Failure to obtain the necessary licenses and permits could trigger penalties or closure of the business.

What Insurance Policies Are Needed to Operate in Florida?

The state of Florida does not require companies to take out Commercial Liability Insurance. However, it is better to have insurance to protect one's assets. In the United States, there are various forms of business insurance. ExportUSA can obtain the best quotes for all forms of insurance in America.

ExportUSA Can Help You Open a Corporation or LLC in Florida and in All Other American States

We Offer a Full-Service to Facilitate the Entry of Small and Medium-Sized Businesses into the United States

We handle the application for tax numbers, opening of bank accounts, renting of commercial premises or apartments, formalities of starting a business, issuing of stock certificates, and much more.

Contact us to start a business in Florida