Florida recently passed legislation that will result in a re-write of Chapter 607 of the Florida Statutes otherwise known as Florida's corporate statutes. This is the first re-write of the corporate statutes in more than 30 years. The new changes are expected to address several topics such as corporate document filings, proxies, service of process, remote participation in shareholder meetings, Read More
Why Your LLC Needs An Operating Agreement
What is an Operating Agreement? The LLC's most important yet overlooked document is the operating agreement. An operating agreement is a formal document that describes how a Limited Liability Company ("LLC") will operate. It typically describes how the LLC adds new members, the voting powers of the individual members, tax treatment, or how the members manage the LLC. Florida law does not require LLCs to have an Read More
Common Business Mistakes Made Every Day
At Bryant Taylor Law, we have a healthy mix of experienced and novice business owners. Here is a list of the 4 most common business mistakes we have observed with our business-owner clients. Business Mistake #1 Not understanding their financials Business owners do not need to be an accounting expert, but they must have a basic understanding of their business financials. Hiring an accountant helps, but it is not Read More
How to Start A Business in Florida
One of the most overwhelming steps to owning a business is actually starting the business. The following is a step by step on how to start a business in Florida. How to Start A Business in Florida Step 1: Develop A plan It may sound cliché, but any successful business formation starts with a plan. Do not commit a single cent to your business without creating a business plan. You must answer the 5 W’s when you develop Read More
How To Form A Business Idea
Behind every business is the idea that started it all. Many people believe these ideas occur by mistake or coincidence. This is not true. It takes more than just sitting on the couch waiting for an "ah ha" moment. It takes patience, effort and time. The good news is anyone can form a business idea. Here's how to do it. Find a problem in your everyday life The easiest source of inspiration for a business idea is your Read More
The Benefits of a Business Attorney
If you are a small business owner, you might be thinking to yourself, “Why would I ever need a business attorney? I’ve made it this far without one. Why do I need one now?” Many small business owners ask themselves these questions. That is, until they need a business attorney to help them understand many of the regulations placed on today’s small businesses. Truthfully, the reason so many business owners avoid Read More
Should Your Business Be A S-Corp?
The LLC may be the popular choice for many… Have you heard of the S-Corporation (or "S-Corp" for short)? One of the first decisions many new business owners make is the type of entity to form for their business. Will it be a partnership, a corporation or a limited liability company (aka LLC)? In our experience, clients are aware of the LLC, but rarely mention the S-Corp. There is nothing wrong with the LLC. The LLC Read More
How to Get Out of a Non-Compete Agreement
Non-Compete agreements have always been common in certain industries. In today’s era they’re becoming increasingly popular across the board. Florida courts are enforcing non-compete agreements through injunctions. These injunctions can prevent an employee from accepting a higher paying or more prestigious position at another company. A non-compete is usually given to you as a condition of your new employment. And Read More
Millennials: the Future of Business Ownership
Millennials are changing the face of business ownership and are quickly becoming "millennialpreneurs". Millennials make up approximately 75.4 million Americans, and nearly half of them plan to start a business in the next 3 years. In a 2017 study by America’s Small Business DevelopmentCenters (America's SBDC), millennials were found to be the most entrepreneurial generation ever. The creation of wealth was the #1 Read More
