Our MLG Business Litigation Group attorneys<\/u><\/a>\u00a0know how difficult it can be to navigate the legal requirements associated with starting a business in Florida<\/u><\/a>.\u00a0<\/u><\/p>\n That is why we have designed unique Florida business start-up packages<\/u><\/a>\u00a0that help our clients establish their vision using flat legal fees they can plan for to help avoid the common pitfalls associated with starting a company.<\/p>\n Here is what new business owners need to know to help avoid the top 10 mistakes made when starting and operating a Florida business.<\/p>\n All Florida businesses new and existing must register their companies with the Florida Department of State<\/u><\/a>\u00a0when they are conducting business within its borders.<\/p>\n Failing to do so may result in difficulties establishing a company bank account, which may leave the person or partners personally liable for business debts and obligations.<\/p>\n Before you can establish your brand, and register your company with the State of Florida, you must choose a unique business name that does not interfere with the intellectual property rights<\/u><\/a>\u00a0of a third party.<\/p>\n Simply put, if you choose a company name that is the same or remarkably like an existing brand, you may be required to change it and potentially be held liable for any damages that resulted from your oversight.<\/p>\n Vetting the business name first will save time, money, and the headache of losing your brand equity later.<\/p>\n If you are not the only one starting a new company that involves more than one principal, you must develop a partnership<\/u><\/a>, LLC operation<\/u><\/a>, or shareholder agreement<\/u><\/a>\u00a0in place before the business begins.<\/p>\n These agreements set forth the expectations for the business and its owners, and include provisions that dictate:<\/p>\n At MLG Business Litigation, our skilled Florida business start-up attorneys provide flat fee partnership agreement<\/a>s<\/u>\u00a0that will allow you to begin operating with confidence.<\/p>\n Before you can successfully keep track of your business\u2019s accounting needs, including basic accounts payable and receivable requirements, you must determine which documentation method you are going to use.<\/p>\n Whether you prefer to use in-house software, like QuickBooks or something similar, or hire a bookkeeper or Certified Public Accountant to do the work, you must decide before billing customers or paying vendors.<\/p>\n Failing to establish a reliable accounting procedure first can significantly impact your business\u2019s profits, losses, and overall success.<\/p>\n In addition, all for-profit Florida businesses are required to pay local, state, and federal taxes. To avoid IRS penalties, establish a clear and concise accounting process from the start.<\/p>\n This one is simple but often overlooked.<\/p>\n If you do not separate your personal financial accounts from your business accounts, you cannot properly shield yourself \u2014 or your partners \u2014 from personal liability for the activities and actions undertaken on behalf of the business.<\/p>\n That means creditors can hold a shareholder, member, or partner personally liable for the acts of the business.<\/p>\n All businesses should establish a separate bank account \u2014 or accounts, when necessary \u2014 and any business expenses that must be paid from that account to avoid commingling business funds with personal funds.<\/p>\n The fines and penalties associated with violating Florida employment laws<\/u><\/a>\u00a0are significant and can swiftly cripple a start-up\u2019s ability to successfully operate.<\/p>\n The moment your company hires its first employee, the business becomes an employer, you must comply with certain employment laws, including wage and hour, civil rights, and whistleblower laws.<\/p>\n A common Florida business start-up mistake is entering into an agreement with a customer, vendor, strategic partner, or even an independent contractor with a solid business contract in place.<\/p>\n Business contracts outline the expectations of each party involved, specifically identifying each party\u2019s responsibility, the timeline of the agreement, and at what expense.<\/p>\n When no written contract is in place, any person or business can default on the agreement without being held responsible for its breach<\/u><\/a>. This could easily jeopardize your business before you even get started.<\/p>\n Whether it is an intra-office spat between partners<\/u><\/a>\u00a0or a disagreement between the company and a vendor, failing to assess the complaint and a potential remedy early could lead to lawsuits and litigation.<\/p>\n When the courts become involved, the outcome will be costly. This can cripple a small business from the start.<\/p>\n That is why it is important to have solidly constructed contracts in place that address dispute resolution, so you and your company can mitigate the risk of costly litigation.<\/p>\n Not all Florida businesses require a license to operate in the state, but if yours does, you much procure the license before you start conducting business. Failing to do so may result in substantial financial penalties.<\/p>\n Depending on where your Florida business is located, the local licensing requirements may differ. Our skilled Florida business start-up attorneys can help you determine if you need a license, which type(s), and how to successfully file for the proper credentials, so you can get your company off the ground quickly.<\/p>\n When companies do not purchase liability insurance, they are opening the door to lawsuits that may require payment directly from the company, business owner, partners, or shareholders\u2019 pockets.<\/p>\n Do not wait until you are faced with a claim to engage in risk management for your business.<\/p>\n One of the best ways to manage risk for your business is to purchase liability insurance.<\/p>\n If you are ready to start a Florida business or need help moving your company to the next level of operation, our skilled Florida Business Litigation attorneys<\/a> can help provide real-time legal guidance, advice, and solutions.<\/p>\n Contact<\/a> our MLG Business Litigation Group attorneys in Florida today at (786) 706-9228<\/a>. We can help you understand your complete legal rights and options to start and keep your Florida business on track.<\/p>\n","protected":false},"excerpt":{"rendered":" The Top 10 Mistakes Made When Starting and Operating a Florida Business Our MLG Business Litigation Group attorneys\u00a0know how difficult<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[3,73,74],"tags":[],"class_list":["post-2308","post","type-post","status-publish","format-standard","hentry","category-business-interruption","category-business-law","category-breach-of-contract"],"acf":[],"yoast_head":"\nMistake One: Failing to Register the Business with the State of Florida<\/h2>\n
Mistake Two: Failing to Choose a Unique Business Name<\/h2>\n
Mistake Three: Failing to Establish Partnership or Shareholder Agreements<\/h2>\n
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Mistake Four: Failing to Adequately Address Accounting and Tax Issues from the Start<\/h2>\n
Mistake Five: Failing to Separate Personal Accounts from Business Accounts<\/h2>\n
Mistake Six: Failing to Comply with Florida Employment Laws<\/h2>\n
Mistake Seven: Failing to Develop and Enforce Business Contracts<\/h2>\n
Mistake Eight: Failing to Quickly and Accurately Address Business Disputes<\/h2>\n
Mistake Nine: Failure to Obtain a Required Business License<\/h2>\n
Mistake Ten: Failing to Purchase Liability Insurance<\/h2>\n
Contact MLG Business Litigation Group in Florida Today to Get Started<\/h2>\n