The real cost of setting up a Small Business in Florida
Many people think that to initially set up and incorporate a new business costs thousands of dollars, the reality is that is not necessarily the case. If you have some time to research, read and educate yourself you can save some of the advisory fees from accountants, CPA's and/or attorneys. Of course, engaging a professional in certain areas is always a good idea if you don't have the time or the background.
For those of you that want to incorporate and set up a new business, here is a cost breakdown:
Incorporation with State of Florida: $70.00 Domain name and email account: 97.05 Website:$149.00 (retail value: 1000 and up) Business cards: $35 (retail value: $250) Logo: free (retail value $250) Social Media accounts: free Tax ID number: free Bank Accounts/Credit Cards: free Total: $351.05 That's it, about $350.00 and potentially you are open for business. Of course if you have a brick and mortar type of business you have a long ways to go, but at least this part is simple and it should only take you about a week.
You can actually get a free website (wix.com) and free email account if you don't care about the domain name. However, I don't recommend that because it provides no brand value to your business. Pay special attention to the content of the website and try to answer the following questions: What is this business all about? What can it do for me? How much do the products/services cost?
Some of the resources that you may find of interest are: Incorporation with State of Florida: sunbiz.org Domain name and email account: godaddy.com Website: wix.com Business cards: vistaprint.com Logo: freepik.com IRS: irs.gov
Best of luck in setting up your new business. Ricardo Lowe, CPA RLowe Consulting