Around this time of year many entrepreneurs plan on launching new businesses in Florida and are often eager to get started.
However, taking a bit of time to meet with professionals to get some expert advice is always advisable before the customers start rolling in.
Before You Start A Business You’ll Want To Meet With:
A Business Formation Attorney
Every business has some level of liability, from contract risks, to compliance, disputes, regulatory concerns and more.
No matter what type of company you plan on starting, you’ll want to meet with South Florida business formation attorney to discuss what types of risks you will be exposed to and how to limit it as much as possible.
Your attorney will help you choose the appropriate business structure to limit your liability and can help you prepare any of your initial paperwork, obtain licenses, draft partnership agreements, operating agreements and more.
It’s just as important to consult with an experienced accountant to understand your new tax implications.
Other areas will need to be addressed, for example an accountant can advise you on the best system for the easiest recordkeeping and financial reporting.
They’ll help you minimize your tax burden for the highest profit potential, can teach you how to review your financial statements and more.
Getting advice from someone who has worked in the industry you are launching a business is always wise. Even if you aren’t well connected yet, it can be as simple as going to a networking event and sparking up a conversation or reaching out to someone in the industry online.
Even paying an expert for an hour consultation can pay off immensely, especially when you get a detailed analysis of your potential business idea, its flaws, strengths, and overall potential. In any case, you’ll want to choose someone with a proven track record.
Of course, you may also want to meet with other professionals such as a loan office at your bank, other advisors, or potential investors who may be able to provide you with seed capital. You may want to recruit experts in your industry to be on an advisory board or provide ongoing advice.
Meeting a South Florida business formation attorney and accountant at the very least will help you set the foundation for your business and hit the ground running.
Call Schecter Law today at (954) 779-7009 to learn more about starting a business in South Florida or to ask any questions you may have at all.