Starting a New Business in Florida

Thinking about starting a New Business in Florida in 2015?

starting new business

Here are some things to consider when you embark on a new business venture in Florida!

First, you will need to think up a name for your new Business Venture.

A good business name should be easy to remember, yet tells what kind of products or services that you offer.
Check for the availability of a .com domain name. You can add location and/or key words to name. For example: GreenDoorFlorist.com or OrlandoWeddingFlowers.com

Make a choice on what type of Business Venture you want to form. 

Do you want to:
File a DBA (fictitious name) to create a sole proprietorship or partnership?
Do you want to Incorporate as a corporation or LLC (Limited Liability Business Venture)? Learn More 
Click Here for Information on taxes for your Florida Business

Whatever you choose, you need to register your Business Venture with the state, county and obtain a bank account for the Business Venture. These steps are required even if you have an online business or an at home business. For example, if you are doing booth sales regularly at conventions or selling cooking products in an at home party setting you will need to take these steps.

Insuring Your Business Venture

Many entrepreneurs that work out of a home office mistakenly believe that their business is automatically covered by their homeowners insurance, yet most homeowners insurance policies limit loss of business property to $2,500, usually don’t cover losses away from the home, and often exclude liability coverage for business-related activity. Consider some risks:

A graphic design artist that works from home can easily have over $20,000 in computer equipment and software in their home.

  • Many entrepreneurs often take a laptop and smartphone on the road to meet with customers.
  • A client could slip and injure themselves from a fall during an appointment at a home based accounting or other business service.

Examine your business for liability “red flags.” Keep in mind that Insurance coverage is available for every conceivable risk your new business venture might face. The cost and amount of coverage of policies will vary from Insurance company to insurance company. You should discuss your specific business risks and the types of insurance available with an independent ¬†insurance agent at Erb and Young Insurance. Your agent can advise you on the exact types of insurance you should consider investing in for your business.

Erb and Young Commercial Insurance for Florida Business Owners

Erb and Young Insurance Agents will keep a policy within your budget and make sure you have an insurance policy that covers possible losses. We are available to review it annually to make sure it’s still adequate to your needs.

 

More Resources:

SBDC Orlando

Enterprise Florida

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