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Starting a Business

Prior to commencing operation of a business, one must first determine the proper type of entity which will best meet one’s goals, whether it be a corporation, partnership, limited liability company or sole proprietorship. This decision will often be dependent upon the type of business and who will be involved in the ownership, control and operation of such business. Consideration of other factors are necessary, including tax ramifications and potential liability issues. Proper documentation must also be filed with the State. 

Business relationships should be negotiated and appropriate written agreements entered prior to proceeding with a new business venture, to attempt to protect all parties involved from unforeseen circumstances that may arise. 

It is also necessary to determine what licenses are required to operate such a business, including proprietary, professional, and state and local occupational licenses. It may also be advisable to file with the proper governmental entities for proprietary rights to tradenames and trademarks, and possibly patents. 

The Florida Department of State has some helpful information for businesses on their website at www.sunbiz.org, and the Department of Business and Professional Regulations provides certain information and forms regarding professional licensing, atwww.state.fl.us/dbpr

Consultation with an insurance agent experienced with businesses of a similar nature to the planned venture is important, to secure proper protection for the business. It is also advisable to consult with an accountant, as well as legal counsel, prior to the commencement of a business or a business relationship, to attempt to avoid potential problems