So, you want to move your business to Florida, while avoiding hurdles? There are multiple reasons to do so. Florida has a vibrant young population, very entrepreneur-oriented industry with a record-high number of startups. Its culture is diverse, climate soothing and economy dynamic. However, when you move you will be presented with certain challenges. After all, business means that there is a lot of paperwork to be done. So without further due, let us proceed to find out what exactly awaits you once you move your business to Florida?
Why move your business to Florida?
There are a lot of good reasons to move your business to the sunshine state, but still, you should get well informed before you relocate to FL. For example, its good name (if we ignore stereotypical news coverage of its resands. The state of Florida possesses an absolutely massive tourism industry. If your business is at all connected to tourism, you will benefit from more than 100+ million tourists each year. This means a lot of people potential customers. After all, they bring just above 100 billion dollars (yes, billion with a “b”) each year, and you can definitely take a part of that cake.
Miami, a place to be – or is there more?
However, that is not to say that the economy of Florida is somehow singular. Florida is also home to very diverse industries – everything from the manufacturing, defense and aero industries and financial services to logistics, energy and of course, trade.
In almost all of these Florida is experimenting and growing with new technologies. This is most evident in Florida green energy projects.
All in all, if you find yourself, or better put, your business, in any one of these categories – move your business to Florida right away!
Location, Location, Location
So, where to go when in Florida? While Miami is an obvious choice, there is a bit more nuance to it. Look for suburbs. Florida has a lot of employable, educated population and pretty favorable tax situation. And the best way to go for both is with smaller towns that are close to big cities, as those are hubs of economic activities.
So hire some affordable but reliable office moving professionals and move to small cities to get the best possible ground for your business.
And remember, no matter how big the industries are, there is a lot of place for small companies. Florida has positively huge amounts of startups, signaling a vibrant economy that is young and full of potential. That untapped potential can be yours.
Small to medium business are having pretty big growth in Florida due to its fertile ground for investment. After all, it has the people, the transportation, logistical chains – all it needs are enterprises such as yours.
Register after you move
Now, when you finished up researching why to move to FL on purpleheartmovinggroup.com, you probably ought to check out how to do it.
First and foremost there is registration. In Florida, this matter is in the hands of Florida Department of State, Division of Corporations (this applies to you even if you are a nonprofit entity). Pretty much any business has to be registered here.
There are fees involved. For LLCs, it’s around 150$, and other forms of the corporation are less than 100$. We would argue those are low costs for a red-tape process. Oh, and, while this is not part of legal requirements, you might want to check out “Doing Business As” forms as quickly as possible.
Taxes – the only thing you are sure to encounter
So, taxes in Florida pretty much come to:
- City business taxes* – now, if you move your business to Florida, but choose less populated areas, you might avoid this tax, as only some cities will have it.
- Local business taxes – in service of local municipalities
- State business taxes – for the state of Florida
- Federal business taxes – same everywhere
Now, you might notice you don’t have a State income tax – because Florida has none! Yup, we can guide you to the provision of the professional printing services if you have the need to put that on a billboard somewhere. Though, we are pretty sure it is already well known and a contributing factor to the influx of investment in this southern, by the coastal state.
Explaining, why licensing is important, is rather redundant, so we will just go to the core of the issue.
Being a licensed company is an only acceptable way of running a business
To obtain such a license, you will need the help of an agency called The Florida Department of Business and Professional Regulation. With it, you will be free to commit with your business activities freely. But now, when you moved your company, you probably need somebody to work in it…
Employees and marketing
It is safe to presume that your employees will not be following your business once you move, so you need to hire a local workforce. So, what you need is to use local employment sites (easy to find, trust us) and to make sure that your own website is presentable.
Marketing is your most important tool to set up after the relocation
Actually, in a dynamic economy such as the one in Florida, website builders are just as important as having a clean restaurant or a well-organized lobby, for example. It’s a truly modern, connected market full of young people willing to approach business in a new way. If you move to Florida, be ready to embrace marketing and youthful, enthusiastic workforce ready to introduce change to your company, but always as an improvement
Final words of advice
There is much to be said about the benefits of Florida – relatively low amount of red tape, which means less paperwork, manageable taxes etc. But there are some things that are not easily measurable. Nobody can really tell you how Florida marketplace will look like in 10 years time. How will its culture impact your business? Will technology being developed under the sunny skies be a benefit for which you decided to move your business to Florida in the first place? Or is it the people, tourism or excellent education?
It is after all your business and your decision. You have to see the reasons for your business relocation and act accordingly. We hope that you have the least amount of disruptions with these bits of advice in mind.