Incorporate in Florida
Starting a Business in Florida
In spite of it's reputation as a tourist destination and "God's waiting room" for retired folks, Florida is a pro-active and business-friendly State. In fact, in November 2003, Florida non-agricultural employment grew by 97,300 or 1.3% over the same month in the prior year. Over the same period, employment actually dropped nationally. That's the 20th consecutive month of positive over-the-year growth for Florida.
Florida also has the 3rd highest number of companies on the Inc.500 list which ranks America's fastest-growing private businesses and helps identify entrepreneurial ventures on the cutting edge of U.S. economic growth.In addition, six Florida metro areas rank among the top 25 best locations for entrepreneurs. The six areas are:
- Fort Lauderdale (4)
- West Palm Beach/Boca Raton (6)
- Miami (8)
- Orlando (10)
- Jacksonville (19)
- Tampa/St. Petersburg/Clearwater (25).
Here are some other reasons to consider Florida as your business home:
- By 2030, Florida will pass New York as the third most populous state.
- Florida is one of only eight states with a right-to-work provision
in its constitution.
- Florida's average cost of labor is 14 percent lower than the national
average.
- No place in Florida is more than 90 miles from one or more of the
state's 14 deep-water ports.
- Florida is the national leader in international commerce.
- Aircraft and spacecraft exports from Florida totaled more than $1.5
billion in 2002.
- More than $4 billion is invested in research and development in Florida
each year.
- Florida's defense-related industries are a $30 billion segment of
the state economy.
- More than 300 financial institutions - including 50 international banks - operate in Florida.
Perhaps one of the best reasons to locate your business in Florida, aside from the weather and beaches, is that Florida's state budget has grown unlike other states that face deficits. This is principally because, e of Florida's unwavering commitment to increasing state revenue via economic growth rather than tax increases. The non-partisan Tax Foundation recently reported that Florida is one of the most tax-friendly and business-friendly states and that it has no personal income tax and a very low corporate tax rate. Florida's Department of Revenue has made it a snap to file all of your taxes on line which reduces the paperwork waltz.
Speaking of on line, Florida is perhaps the easiest state to form a corporation, LLC, or LLP that I've ever seen. Florida runs an information portal site , called MyFlorida.com, that links you to anything and everything that the Government offers.
Visit MyFlorida.com's Business page and you will be amazed at the quantity (and quality) of the information that is provided.
Click on the Starting a Business in Florida link and work your way through each link. You will be an informed expert in no time at all.
Florida partners with the private business sector at every opportunity. For example: The Business Registration's page has a link to Florida Small Business which is a private source of quality news and information site that reads like a business magazine!
Here is the menu from a recent edition:
- » Do you have the entrepreneurial spirit?
- » Legal Structure - Setting Up Your Business
- » Forms, Permits & Licenses - An Easy Guide
- » Business Plan - Lay the Groundwork
- » Minority Business - New Initiatives are Working
- » Workforce Laws for Business - State and Federal
- » Insurance - What Coverage is Right for You?
- » Patents, Trademarks, Copyrights - Protect Yourself
Florida's Small Business Assistance program offers a wealth of help, information, and some funding if you qualify.
You can register your business name on line, file your corporation documents, get a TAX ID, and more. Pay the business registration fee online and you instantly receive an official State business registration document, in a PDF, that you can print out and take to the bank to open your business account. Florida means business -- in real time!
There's even a Florida Entrepreneur's Resource Page that you can use as a checklist to make sure that you get everything done and you are aware of everything that the State offers.
Enterprise Florida is another example of how Florida reaches out to he business community. According to their Mission Statement..
| EFI’s mission is to diversify Florida's economy and create better-paying jobs for its citizens by supporting, attracting and helping to create businesses in innovative, high-growth industries. EFI focuses on high-value sectors such as: international commerce, information technology, life sciences, aviation/aerospace, homeland security/defense, modeling/simulation/training (part of IT), and financial/professional services. |
And they do a good job at it as well. Enterprise Florida, Inc. (EFI) was Florida's first experiment in outsourcing Government services to the private sector. When EFI was formed as a public-private partnership in July 1996, it officially replaced the Florida Department of Commerce Department and became responsible for for economic development, international trade and statewide business marketing.
With the low cost of living, affordable housing, a highly-trained and educated workforce, Florida is the #1 choice for launching your new business. Why not take the plunge today?