Incorporating in Florida: Haven for Small Businesses

2007-03-08 10:33:40

( Business )



HOW AND WHERE TO INCORPORATE

Among the many types of business entities you can enter into, the corporation is the most stable and presents the most number of advantages. While the requirements to incorporate your business do require more logistics and paperwork than a sole proprietorship or a partnership, there are states that make it relatively easier for you to incorporate your business.

Since the choice of state can affect how your corporation operates, the choice of where to incorporate is very important; almost as important as knowing how to incorporate yourself.

After finding the resolve to incorporate your business, the next step is the decision of where to incorporate your business. You may want to incorporate in Delaware given its widely known reputation as business-friendly state. However, the state is already swarming with corporations. The top-earning and rich companies incorporate in Delaware. If you are just a start-up you may feel some pressure and a sense of alienation.

CONDUCIVE TO SMALL BUSINESSES

Incorporating in Florida is a viable alternative, as the state has started laying down the legal groundwork to make the place conducive to businesses as well. Incorporating in Florida has some evident benefits: Florida charges one of the lowest registration fees and annual incorporation fees; the state also requires less documents and paperwork for application and maintenance.

Among the many reasons for incorporating in Florida, the best one probably is that unlike most states, Florida does not require a minimum amount of investment capital. This arrangement particularly works for small businesses and start-ups which are working on a very limited budget. If you are a businessman, incorporating in Florida gives you the full benefits of a corporation without demanding too much investment that you may not be able to afford.

This is not to say that incorporating in Florida should be every businessman’s choice. It still depends largely on the type of corporation you are establishing and if the type of business is not affected by where it is operating. You as a businessman should know what place is best for you.


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