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Small Business Requirements in Florida

Aug 23, 2022


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The Sunshine State is one of the top places in the U.S. to do business, thanks to its impressive tax breaks. But while small business-friendly, there are a handful of things entrepreneurs need to be aware of if they hope to succeed. These range from applying for certain licenses to getting insurance. Below are some essential Florida small business requirements to be aware of.

Get a Business License


If you want to run a Florida business, it’s crucial you get a business license that allows you to work here legally. The state doesn’t usually require every business to have one, except if you plan to open one that has potential hazards, such as a medical facility or architectural firm. However, even if you don’t plan to open a business with extreme risks, most counties will require you to register with them and obtain certain permits.

To start, you’ll need to figure out your business’s name and entity type. Some options you can register for are:

  • Limited liability company (LLC)

  • Sole proprietorship

  • Corporation


Keep in mind that you’ll likely have to go through a background check. This doesn’t usually take long, although you might be declined depending on certain qualifications, such as if you’ve been convicted of a felony in the past few years.

Once this information is in order you’ll need to register it through the Department of State. They’ll review the information provided and then award you with a license. If your request is declined, you’ll need to recheck the paperwork to ensure that everything is answered and that you meet the necessary prerequisites.

Check Local Regulations


As mentioned above, each Florida county has its own small business requirements. What one area requires isn’t always what a neighboring one does. Because of this, it’s crucial that you carefully research and understand your county’s laws. For instance, in Cape Coral, you’ll need to hold on to tax receipts for verification, while in St. Petersburg, you must apply for a business license.

If you’re unsure where to start, contact your local government agency, which will direct you to the right paperwork and people.

Purchase Insurance


Florida is just one of many states that don’t require you to purchase business insurance unless you have workers. However, if you do, you’ll need to obtain workers’ compensation which will financially protect you and your employees should there be an injury on the job.

While it might seem that workers’ compensation insurance would be quite pricey (especially if you’re just starting out), you’ll find that it’s surprisingly affordable. In addition, many insurance providers are happy to work around your needs and to create a custom plan that fits your budget.

It might be worth investing in other Florida business insurance packages if you want to protect yourself further. These include:

  • General liability

  • Professional liability

  • Tools and equipment

  • Commercial auto


These insurance options can protect you in surprising ways. For example, they won’t only help cover medical expenses but could assist with financial support should a data breach need to be fixed or a company car needs mechanical work.

Register with the IRS


You’ll need to ensure that you provide the IRS with your business information to get an Employer Identification Number (EIN). This helps you with certain business aspects, such as opening a company bank account, being more credible to clients, and obtaining necessary permits and licenses.

Registering your business can usually be done online through the official IRS site. This will direct you to the correct state agency site, where you’ll need to fill out online paperwork. You’ll most likely receive your EIN instantly after submitting the information.

You might also need to contact Florida’s Department of Revenue to get the necessary tax information and paperwork. This organization also provides a new business start-up kit to guide new companies through the first few challenging tax requirements, such as sales and reemployment taxes.

Save for Taxes


After opening your business, you’ll need to make sure to set aside funds for federal, state, local, and city taxes. As with licenses and permits, these will vary. Each is collected by different agencies (such as the IRS or Florida Department of Revenue), so you’ll want to confirm that you have registered the right paperwork with them.

Explore MyFloridaMarketPlace


If you’d like your small business to do work for a Florida state agency, you’ll need to sign up on MyFloridaMarketPlace. After registering, you’ll get access to a list of state projects you can bid on. It will also give you insight into certain metrics, such as project meeting presentation notes and commodity codes.

Running a small business in Florida takes a lot of time and effort, but the results are usually worth it. By using this information, you can successfully run a company here.