Small businesses are the backbone of the economy, bringing 44% of all economic activity. Starting a business can be stressful due to the paperwork and research needed to get things started. Don’t let that stop you from opening a business in Daytona. If you are serious about starting a new business in Daytona, FL, here are some helpful tips to get you started on the right foot.
Choose Your Company Type
There are three main entities you can choose from when starting a business:
- For-Profit – Operates with the sole purpose of making money. Open to shareholders and can be sold to raise stock.
- LLC – Limited liability corporations, which means owners are not liable for any expenses or debts due to the business.
- Non-profit – No income or profit is distributed to any members within the business.
Read More: The Processes You Need to Undergo in Starting Your Own Business
Research Business Licenses
Every state varies depending on the type of licenses required per business. Be sure to research the types of licenses needed to conduct your business in Florida. The Department of Business and Professional Regulation offers a free licensee search option to check which licenses are necessary for your business.
Read More: How To Start a Business From Your Home
Find a Location
After handling mountains of paperwork, one of the most exciting experiences is picking a location to start your business. Finding commercial real estate Florida -based can be challenging. It’s essential to research your location and understand the area around you. Does your business need foot traffic to survive? Or are you trying to find a large warehouse? Either way, Daytona will have a suitable location for you.