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Things to Do Before Starting a Business in South Florida

Posted on: July 27, 2017

Preparation certainly makes all the difference when you’re launching a new business in South Florida. The more research that you perform about your business, competitors and target market the better; just so you have a better understanding of what you are getting into and the competitive landscape.

It’s also a good idea to schedule a consultation with a South Florida business attorney to go over some of your biggest concerns and to catch any areas that you may have overlooked as you get things rolling.

Get organized from the beginning

Organization is key to any business. If you start off organized and maintain your business that way, managing your operation will be a lot easier for you as you grow. You’re going to be handling many responsibilities as a small business owner, so spend the time needed to get it all organized for the sake of efficiency. This includes digital and physical files, office supplies and equipment, email systems, and accounting.

Make sure you’re legal

You’ll want to hire a business attorney in South Florida at some point during your preparation so that you can clarify any local and state requirements needed to get your business running. Your lawyer will ensure that your business is properly structured and licensed to comply with the local laws of the city you’re operating in. This will save you the headache of having regulatory delays as you get your venture launched and help your initial few months go more smoothly.

Figure out your tax requirements

You’ll also want to figure out your taxes and accounting from the start; it’s a lot harder to do this after you’ve launched. It’s best to hire an accountant around the time that you hire an attorney and go through each of your tax obligations in the same way that you discussed your legal requirements. Your attorney should be able to advise you on a few of these details; particularly how your choice of business structure will be taxed.

Prepare for anything

Small businesses can be volatile especially at their start, so you’ll want to prepare for any downswings or challenges that lie ahead. If and when business starts to slow down, you should have a plan on what you do during these periods of time; such as working on new marketing campaigns to generate business and reorganizing your office.

For assistance with preparing for a new business or if you have any questions at all about starting a company in South Florida, call Schecter Law today at (954) 779-7009.