Florida is a pretty great place to establish a business. The people are avid consumers and it’s by the sea—making it a great accessible location for goods to be imported and exported. However, this does not mean that everything is all sunshine and rainbows down in Florida—particularly in the southeast.
Here are a few elements that may actually suck up a sizeable chunk of your funds:
Florida has been in the path of massive storms in recent years. In such cases, a lot of business really needed to shore up their insurance and storm proofing. This is particularly necessary for those that have brick and mortar locations for their business.
Not even tall buildings are safe from storms. If you aren’t careful about your contingency plans about how your business should realistically survive bad weather, you’ll find yourself shelling out more and more money just to repair things. It is always best to be ahead of the curve. Get yourself reliable insurance and select the best sort of materials to help your business stay alive during hard weather.
Ah, politics. It would just be great if none of that ever had an impact on business, right? After all, politics is mostly old men talking and the everyday citizens suffering through the consequences. We emphasize politics here because of the fact that sudden changes in state-wide policies can affect business.
For example, there are strong urgings to ban dog races in Florida. Betting on horses and dogs was completely legal before. Now, if the law changes, that’s going to be an entire industry out of a job. This is why it is equally important to keep abreast of any political events or musings that may have an adverse effect on your livelihood.
These two are just a few of the elements that suck up your funds. What other elements would you say qualify for this? Let us know.