Steps to Starting an Online Business
Many bricks-and-mortar businesses faced serious struggles during the pandemic, and some owners looked toward online business as a solution to protect their futures. If you have an idea for an online business or are making the transition to online transactions, you can have more security should another natural disaster or unexpected situation arise.
Online companies are still companies that have many legal concerns and compliance requirements. Even though you don’t have to find the right commercial property to lease, you should not ignore the other steps you should take. Always have the guidance of a Boca Raton business startup attorney.
Choosing a Company Name
Online companies should put particular thought into selecting the business name. You want to make sure the name is available for registration in your state, as well as that there is a URL available that makes sense and can be easily affiliated with your business.
Forming Your Business Entity
You always have the option to launch your business as a sole proprietorship or general partnership, though formal business entities might have tax-related benefits and liability protections that make more sense for your company. Forming a limited liability company (LLC) requires proper registration with the State of Florida, and you should also have an operating agreement if you have multiple members of the LLC.
If you need to build a team for your online operations, you need to keep employment laws in consideration. Do you want to hire employees or independent contractors? If you will have employees, you will need to comply with all applicable employment laws and insurance requirements. There are still tax requirements for independent contractors, as well.
Online Security Compliance
E-commerce sites must comply with all online security and privacy laws. Failing to comply can result in significant penalties or liability for your business.
Contact a Boca Raton Business Formation Lawyer for More Information
The law firm of Rubino Findley, PLLC, helps new businesses start off on the right foot. Contact us online or call 561.220.0741 to learn more about our Boca Raton business attorneys.