There are many reasons why Florida is the right state for starting your business. It has a diverse economic base, interesting tourist attractions, and millions of visitors per year. Therefore, it is a perfect place to start and grow your business. In addition to this, the state offers financial aid to people who want to develop their own small company. According to the U.S. Small Business Administration, Florida has nearly 2 million small businesses. For this reason, it is important to choose the best city in Florida to start yours. If you are planning to do the same, here are the best places for starting a business in Florida.
Criteria for the best places for starting a business in Florida
Before you start searching for moving companies Sanford FL, you have to pick a city. There are certain criteria that the best places for starting a business in Florida have to meet. Here are the conditions.
- Average revenue
- Median annual income
- Cities with a population bigger than 10,000
- Business climate and market
- A high percentage of businesses with employees
- Median annual housing costs
- Low unemployment rate
Since there is a large number of cities in Florida, there have to be criteria in order to choose the best places for starting a business in Florida. While moving to any part of sunny Florida can be a great fresh start, you should consider the following four cities. You will find some basic information about the cities. However, you should do more thorough research for a city that catches your interest.
Maitland and Naples offer ample opportunities
Here are the first two cities that deserve your attention:
- Maitland – the average revenue per business is $4.5 million. It is the highest of all the cities on this list. Apart from this, Maitland is pretty close to Orlando. You will have access to the National Entrepreneur Center and the University of Central Florida’s Small Business Development Center that is located in Orlando. In addition to this, you can get help from the Business Incubation Program.
- Naples – if you plan to work in tourism, then Naples is the best choice. It has white sandy beaches, dozens of interesting shopping places, and world-class golf courses. In addition to this, you can promote your business through the Fifth Avenue South Business Improvement District. Again, you can ask for financial support from the Small Business Development Center, this time located at Florida Gulf Coast University.
Doral and Palatka are among the best places for starting a business in Florida
While Maitland and Naples are at the top of our list, there are more excellent places for your business in Florida:
- Doral – Doral is quite close to Miami, only 15 miles away. For this reason, if you do not want to move from Orlando to Miami, you can easily expand your business there. You will have an opportunity to trade using Miami’s ports. In addition to this, the three largest sectors are tourism, logistics, and finances. Lastly, you can make connections with major employers such as the Miami Herald Media Company, Perry Ellis International, and Hellmann Worldwide Logistics. Again, the Florida Small Business Development Center is at the Florida International University in Miami.
- Palatka – Palatka is a small city. However, it is close to both Orlando and Jacksonville. Major employers include Putnam Medical Center and St. Johns River Water Management District. Lastly, Palatka also has access to the Small Business Development Center in North Florida.
How to start your business in Florida
It is time to learn how to start a business in Florida. Location is an important factor. However, there are more things to consider before you hire movers Port Orange FL. First, you should choose your entity type, whether your business should be a for-profit corporation, limited liability or nonprofit corporation. Next, you should register your company. You can find all the necessary documents for registration on the Internet. However, you will have to pay some small fee when you want to register your business. This depends on several factors, such as the entity type. In addition to this, you will need to register your DBA. If you want to name your company, you will have to pay for registering the name of your business. You should conduct research to see if the name you want is already taken. If not, submit it quickly and pay a fee of $50.
Take care of the taxes
As with everything, you have to pay taxes for your business. First are federal business taxes. They usually include income tax (Florida does not have one), self-employment taxes, employment taxes, and excise tax. Contact the IRS to get more information. Next, there are state business taxes. Florida’s Department of Revenue collects these taxes and you have to register online to either collect or remit them. Then, there are local business taxes collected by local county collectors. Contact state’s counties so you can learn more about them. Lastly, city business taxes do not exist in every city, so check with your city officials.
Other paperwork and steps to remember
Depending on your field of work, see if you need a license for your business. Next, you should open a business bank account and separate it from your personal one. In addition to this, you should also create a new email address, phone number, create a logo, register the said logo, and so on. However, the most important aspect is to calculate your costs. You can try SBA loans, short-term loans, business loans, and similar. Florida’s Small Business Development Center is the best place to start. They offer free financial advising to all the people who plan to open their business. With their help, you can choose the best option for you.
All the best places for starting a business in Florida
As you can see, these would be all the best places for starting a business in Florida. Pick the right location, get all the necessary documents, and start your business in Florida. Good luck!