Starting a Business in Orlando Florida – Corporate Climate
When starting a business in Orlando Florida the statistics for the State of Florida highlight the fact that there are over 880,000 profit corporations registered, while nearly as many as 390,000 of those are limited liability companies. This statistic clearly implies that incorporation in Orlando Florida is considered to be the the most lucrative choice for business owners. The business community in the state, for the most part, agrees that incorporations offer greater benefits as compared to singular or partnership businesses.
Florida State Laws Support Growing Companies
Starting a business in Orlando Florida has its benefits. Instead of imposing heavy taxes and complicated laws which create logistical issues for businesses, Florida supports its businesses through opportunity for growth. Owners of businesses can easily develop through incorporating in Orlando Florida.
The policies are very supportive of business growth, execution, and registration. For example, one of the laws states that to be a shareholder of a company, the individual does not necessarily have to be a resident of Florida. This invites residents from outside the state to participate in the economic activity within Florida.
Moreover, one person can hold the entire office. That is to say, that one director can be responsible for the entire office. Additionally, the requirement of owning a bank account within the state lines is also not present. This gives corporations in Orlando Florida enough space to exercise their powers.
Records in Florida
The state of Florida really helps people in starting a business Orlando, FL. Through persistent support, the state is able to create dynamic environment for businesses to grow into incorporations. For example, the state law does not require a company listed on the stock exchange to bring in their records to Florida when they move in. This is why we may see that companies who have listed shares over the stock exchange have multiplied 5 times in 5 years. There were 130,251 limited liability corporations in Florida by 2006, 5 times more when compared to 2001.
Tax Base and Capital Requirements
Florida is ranked one of the top states where the business climate is supported through a tax base which puts in a lesser burden on the costs. Being one of the least costly states for businesses, annual charges for listed companies are comparatively low.
In addition, state laws do not have any limitations on minimum or maximum capital to expand the structure of the company. No personal income tax, no tax on stock transfers, no inheritance tax on shares that are possessed by non residents… it is primarily a no tax zone for corporations. With such an environment, who wouldn’t want to open and grow their businesses in this state?
Advantages to Florida
The are several advantages to starting a business in Orlando, FL. The first advantage, flexible laws, helps Florida’s infrastructure. When businesses are growing, they are likely to invest more in the infrastructure of where they operate. In addition, to build a good brand image amongst so many other competing brand names, organizations want to engage in corporate social responsibility. Ultimately, it’s the state that benefits the most out of it. Infrastructure like roads, schools, electricity plants is invested into, either to reduce cost, motivate employees, or as part of the accomplishment of corporate social responsibility.
Furthermore, the economy of Florida has been flourishing. This is a clear indication that state laws have been successful since they have created a win-win situation for all the four major stakeholders; the company itself, the state government, employees, and consumers.
If you need more information about our business development services, please contact us at 407-344-1228. FreedomSBS is a marketing, graphic & web design, accounting, internet marketing, business development, and corporate law resource firm all in one! FreedomSBS is your one stop shop to start, grow and mature your business. Our services include: incorporation services, graphic design, logo design, web design, web development, internet marketing, search engine optimization (SEO), marketing consultations and corporate law resources. Our services are provided nationwide, but since our main office is located in Kissimmee, FL, we mainly help businesses in the Central Florida market to areas like Orlando, South Orlando, Kissimmee, St. Cloud, Poinciana, and Hunters Creek, FL.