Tue 24 Nov 2015 | By:

The Top 5 Mistakes When Starting a Business in Florida

Mistakes When Starting a Business

Mistakes help you learn valuable lessons you can apply the next time something similar happens to you.

However, mistakes can be detrimental when you’re starting a business in Florida because it could affect your venture both in the short and long run. There are many possible mistakes that one can commit as a startup entrepreneur.

It can range at the time of your Florida incorporation or at the time when you comply with the necessary permits, licenses, and registrations. To help you get started with your business on the right path, this guide points out five of the common mistakes that have been identified to cause potential problems in most startup businesses.


Mistake 1) Forgetting to Take Care of Florida Business Tax and License Obligations

Number one on the list of common startup business mistakes is forgetting to comply with Florida business taxes and licenses. Although it’s understandable that there is much paperwork to complete when processing business taxes and business licenses in Florida, but it should not be the reason to slack off this responsibility.

Forget everything but never your requirements for business licenses and taxes when starting a business if you don’t want the IRS to be breathing down your neck. Take care of these requirements!


Mistake 2) Choosing the Wrong Location for Your Florida Business

Choosing a location for your business just because you fell in love with it at first sight is attracting trouble. Talk about whether a location might or might not considerably affect your business is still ongoing, but ask business owners about this matter, and they will surely tell you that location does affect your business’ operations and growth.

Be sure that you are choosing the right location when starting a business in Florida with the use of this guide. Remember, your Florida business location does matter!


Mistake 3) Writing a Terrible Business Plan

Writing a business plan is okay, but writing a terrible business plan is terrible idea. When writing a business plan, you devise of a plan you can follow and guide your business to achieve the stability and growth. However, if you have a terrible business plan, you expect the contrary to happen.

Learning how to write a business plan is not rocket science so it’s time you create a solid business plan now with the help of a solid business plan software like LivePlan.


Mistake 4) Choosing and Incorporating in Florida with the Wrong Business Structure

Choosing and incorporating in Florida with the wrong business will just waste your time. A business structure significantly influences almost every facet of your business, and so if you have chosen the wrong one, several areas of your operations are affected. And once you realize this, you’ll have to resolve the problem and start over.

As there are several business structures, it is your responsibility make a thorough comparison and choose a structure that benefits your business most. Use this Startup Savant guide to weigh your options, and the guides below to incorporate your business legally.


Mistake 5) Hiring the Wrong Employees

Your manpower is one of the most valuable assets when starting a business in Florida only if you have the right people. More often than not we love to trust our intuition, giving in to that feeling of ‘he looks like a good person’ but end up regretting the decision because the person may not be qualified for the position.

Avoid hurting your business unnecessarily by getting people who are willing to work with your startup venture.


Wrapping Up and Moving Forward

Note that aside from the five mistakes discussed above, there are other business mistakes that you can commit. For this very reason, continue learning on how to start a business in Florida, so you will always have new information valuable to your startup company whether it’s about the Florida incorporation process or updates on business tax and license requirements.

Have a good grasp of these mistakes and you will be starting a business that’s on the right track – long term.

About Liesha Petrovich

Liesha is a small business owner of 20 years, host of Startup Savant, the owner of a karate dojo in Maine, and creator of Work Mobly. During free time she's with her family and working on a Doctorate in Entrepreneurship.