Starting a business in Florida or in any other state requires time, effort, resources and patience. You will go through different legal procedures and obtain numerous requirements before you can start your business within the state of Florida, so you need to prepare ahead of time.
One of the most important steps in the startup process that you need to completely prepare for is incorporation. It’s quite a challenging procedure but one that is worth it; running an incorporated business can give you major advantages and full protection, thus, it’s best that you make this a priority.
If you want to know the many reasons why you should incorporate in Florida, this article will discuss every point comprehensively. After that, I’m going to introduce you to the top 3 resources for incorporating a business in the state of Florida.
Let’s start with 5 reasons why you need to incorporate!
Quick Note: If you decide to incorporate in Florida and want professionals to handle all legal paperwork, look into IncFile (for $49) or LegalZoom (for $149). Both are excellent services and have started over 50,000 businesses like yours.
Starting a business which is owned by a number of owners or founders can be quite chaotic and complicated at some point. You simply can’t avoid misunderstandings and conflicts between people who come from different backgrounds and who think differently.
The best way to avoid this from happening to you is to incorporate your Florida small business. By doing so, you’ll have the ability to equally issue stocks so equity issues and problems, which are the main cause of co-owner conflicts will be prevented.
You will all be able to work harmoniously, running your business with peace of mind.
For many entrepreneurs, it’s not just the money, it’s about the legacy that their businesses can pass on from generation to generation. If you share the same view on things, you need to incorporate your Florida startup as early as now. Incorporating your business will allow you to build Perpetual Existence, a term that simply means ensuring the lifelong continuation of your company.
Even when your business outlives you, or other co-founders and owners decide to sell or transfer their stocks, your business can still continue its operations. It will remain standing strong as if nothing ever happened. Incorporated businesses are also difficult to dissolve, which is why it’s best that you go through the legal process.
As a business owner, you need to incorporate your Florida small business so you can give it protection and shield yourself from liabilities.
First of all, when you incorporate your business, you create a separate and independent entity that has its own rights and transactions. Therefore, if anything goes wrong, you will not be held accountable for anything. Your business will also be subject to due process as it has its own privileges and rights.
Whether it’s personal, legal or financial liabilities, you don’t have to worry about anything because you’ll be safeguarded by the state law of Florida. Your personal assets will be untraceable anything related to your business will not be connected to you.
Investors always need some kind of assurance before they decide to invest their money into your venture. This assurance will come in the form of incorporation.
When an investor decides to invest funds into your Florida startup, he/she will also be protected under the law; this is the main reason why investors and financial institutions prefer to work with incorporated businesses.
Aside from investors being fully protected, incorporated businesses also have the ability to issue different stocks. If you want to make the process of looking for Florida financing easier, it’s best that you incorporate.
Your business reputation is everything; it’s in fact, one of the most difficult things to achieve and maintain. However, if you incorporate your small business, you are trying to build its credibility and good standing.
Consumers would want to deal with businesses who are legally recognized by the state to operate because it means that they too can exercise their consumer rights. Having an LLC or Co. after you business name can make all the difference in the world.
Customers will feel at ease trying your products or services, they will trust your enterprise more and you’ll be able to establish a network of loyal customers.
Incorporating a business in Florida can be quite intimidating, especially if you’re still new in the biz and have little to no experience. You can definitely study the procedure and seek for advice, but there’s still the risk of committing mistakes.
However, with the advent of the internet, everything is basically available online. It doesn’t matter if you want to start an LLC or Corporation, there are thousands of guides and how-to articles that will walk you through the steps.
While doing the incorporation yourself is a great learning experience, you simply can’t commit any errors during this time because it will cost you time and money. If you want to do everything right the first time and avoid all the hassle of doing the process yourself, it’s best that you hire the services of an online incorporation provider.
You may have learn of LegalZoom, but there are many more options available:
IncFile is the most affordable online incorporation in the industry. However, it’s not only known for its affordable pricing, it also has the best tools and services among all online incorporation providers.
Some of its most notable features include a free registered agent service for one full year, one-on-one business consultations, one-business day preparation and order tracking in real time. You can read the review for more info!
CorpNet, an online incorporation service founded by a husband-wife team from South California, is one of the most popular incorporation providers among entrepreneurs. CorpNet is a small company, which is why it fully understands the needs of small businesses.
Designed to offer affordable but quality services, CorpNet uses the following features to help you get started: Business Structure Wizard, free business consultations, free trademark search, free business name search and 24-hour document preparation. You can read the review for more info!
With an A+ BBB rating, BizFilings is on this list because of its excellent incorporation services. Although it’s quite expensive than the rest of its counterparts, it still has a massive following because of the following services: BizComply, one-day business preparation and filing, business name verification, registered agent service and a lot more. You can read the review for more info!
Many services offered by online incorporation providers are more or less the same, however, they also have their fair share of unique features and tools. For example, Incfile offers free registered agent service for one full year and although CorpNet and Bizfilings do have this service, you need to pay for it.
Another example that can be pointed out is CorpNet’s free trademark tool that IncFile doesn’t have; these are just some concrete examples of their differences.
IncFile, CorpNet and BizFilings are three of the best in the online incorporation industry and whichever you choose, you’re assured that they’ll take care of everything for you.
Incorporating your Florida small business is the best decision that you could ever make. Legally, it can give numerous benefits and advantages; it will even give your business the right to due process and ensure its lifelong operations.
Incorporating in Florida should not be something that you have think about or even look into, it should be something that you’re committed in doing even before the start of your small business. You have to be fully convinced on the essence of this legal process.
Whether you want to handle the process yourself or use the assistance of online incorporation service, it doesn’t matter; as long as you incorporate your Florida startup before the state of Florida, you’re starting off on the right path!