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Business formation: Getting started on an LLC

On Behalf of | Aug 23, 2018 | Business Formation & Planning

It is not uncommon for many individuals to have the desire to start their own businesses. However, far fewer people actually take the steps to turn their ideas into a reality. After having the resolve to start a limited liability company, Florida residents following this route will need to know their first steps for business formation.

One of the most important documents parties will need to create for their LLCs is an operating agreement. It contains various information that will address financial factors, management aspects and include the limited liability status. Of course, before even taking this step, individuals need to create a name for their LLC. Before becoming attached to one particular name, future business owners need to make sure that the name or similar names are not already in operation. Once a name has been decided, it needs registering.

After taking these steps, the operation agreement can be created. The individuals involved in the company will need to sign the agreement to ensure that everyone understands their roles and the terms of business operations. Once this takes place, writing the articles of organization and filing it with the state needs to occur to make the existence of the company known. Obtaining business licenses, permits, inspections and other steps will also need completing before the business can fully get underway.

Business formation takes a substantial amount of work, but every successful company has to start somewhere. If Florida residents are ready to get started on their LLC formation, they may want to enlist the help of knowledgeable attorneys. These legal professionals can ensure that the correct steps have been taken to legally create the business entity.