Revised January 2014
LICENSES AND PERMITS
New Business Tax Receipts
Most counties and cities require businesses to have an occupational license. Rules vary depending on the city and county.
Before a County Occupational License can be obtained, a business must meet all conditions required by city, county, state
or federal agency regulations that apply to that business or occupation. All businesses will be subject to zoning codes.

Duval County/Jacksonville – only a single city/county license is needed with the exception of Jacksonville Beach,
Atlantic Beach, Neptune Beach and Baldwin, where the City Clerk’s Office issues a city license prior to application for
the county license.

Clay County – no county license is necessary. A city occupational license must be acquired from the respective town
hall if the business is located within the city limits. Those operating a home based business in Clay County must apply
for a County Home Occupational License.

St. Johns, Nassau and Putnam Counties – Businesses operating within the city limits must apply for a city
occupational license prior to applying for a county license.
Occupational License fees vary depending on the nature of the business. The number of employees, equipment and seating
capacity are a few variables that factor into the cost.
In Duval and St Johns County, occupational licenses are renewed annually. The license is valid through September 30th of
the following year. New licenses are issued any time during the year. After April 1st, half-year fees apply.
Duval County
Tax Collector
231 E. Forsyth Street
Room 130
Jacksonville, FL 32202
Phone: (904) 630-1916
www.coj.net/tc
St Johns County
Tax Collector
4030 Lewis Speedway
St. Augustine, FL 32095
Phone: (904) 209-2250
www.sjctax.us
Clay County
(County Home Occupational Permit only)
Board of County Commission Zoning
P.O. Box 7
Green Cove Springs, FL 32043
Phone: (904) 284-6310
www.claycountygov.com
Nassau County
None Required
Zoning Permits
A zoning permit allows operation of a certain type of business at a certain location. Zoning Approval must be approved
before prior to receiving an occupational license. If you are considering doing business from your home, a special
permit or zoning exception or variance may be necessary.
For addresses within city limits, city-zoning approval must be obtained. For addresses outside city limits, county zoning
approval must be obtained (expect Clay County). Businesses located in Jacksonville Beach, Atlantic Beach, Neptune
Beach, or Baldwin must seek city zoning rather than county zoning.
Duval County
St Johns County
Clay County
Nassau County
Zoning Inspection Division
214 N Hogan St, 2nd flr
Jacksonville, FL 32202
Phone: (904) 255-8312
www.coj.net
Jacksonville Beach - City Clerk
11 N Third St
Jacksonville Beach, FL 32233
Phone: (904) 247-6100
www.jacksonvillebeach.org
Zoning Department
4020 Lewis Speedway
St. Augustine, FL 32095
Phone (904) 209-0675
www.co.st-johns.fl.us
St. Augustine
City Hall
75 King Street
St. Augustine, FL 32084
Phone: (904) 825-1065
www.staugustinegovernment.com
St. Augustine Beach
City Manager’s Office
2200 A1A South.
St. Augustine Beach, FL 32080
Phone: (904) 471-2122
www.staugbch.com
Hastings – Town Hall
6195 S. Main Street
Hastings, FL 32145
Phone: (904) 692-1420
(no county license required)
Zoning and Building
76347 Veteran’s Way,
Yulee FL 32097
Phone: (904) 548-4600
Green Cove Springs
City Hall
321 Walnut Street
Green Cove springs, FL 32043
Phone: (904) 297-7500
Fernandina Beach
City Hall
204 Ash Street
Fernandina Beach, FL 32034
Phone (904) 310-3100
Keystone Heights
City clerk
555 S. Lawrence Blvd.
Keystone Heights, FL 32656
Phone: (904) 473-4807
Hilliard
Town Hall
15859 West C. R. 108
Hilliard, FL 32046
Phone: (904) 845-3555
Atlantic Beach - City Clerk
800 Seminole Road
Atlantic Beach, FL 32233
Phone: (904) 247-5800
Neptune Beach - City Hall
116 First St.
Neptune Beach, FL 32266
Phone (904) 270-2400
Baldwin - City Hall
10 US 90W
Baldwin, FL 32234
Phone: (904) 266-9211
Callahan – Town Hall
542300 US Hwy 1
Callahan, FL 32011
Phone: (904) 879-3801
www.jacksonville.score.org
Southside: 7825 Baymeadows Way, Suite 100B Jacksonville, FL 32256 (904) 443-1900
Downtown: Jacksonville Chamber of Commerce 3 Independent Drive Jacksonville, FL 32202 (904) 366-6618
1
Revised January 2014
Professional Licenses
Investment Advisors
Broker / Dealers
Division of Professions
Division of Regulation
Architecture and Interior Design
Asbestos Contractors and Consultants
Athlete Agents
Auctioneers
Barbers
Boxing, Kick Boxing and Mixed Martial
Arts
Building Code Administrators and
Inspectors
Certified Public Accounting
Child Labor
Community Association Managers and
Firms
Construction Industry
Continuing Education and Examination
Services
Cosmetology
Electrical Contractors
Engineers
Employee Leasing Companies
Farm Labor
Florida Building Codes and Standards
Geologists
Harbor Pilots
Home Inspectors
Labor Organizations
Landscape Architecture
Mold-Related Services
Real Estate
Talent Agencies
Veterinary Medicine
Business Licenses and Permits
Financial Institutions
Securities Offerings
Alcoholic Beverages and Tobacco
Condominiums and Cooperatives
Drugs, Devices and Cosmetics
Hotels and Restaurants
Mobile Homes
Pari-Mutuel Wagering
Timeshares
Yacht and Ships
For more information on obtaining a license go to
www.myfloridalicense.com
Florida Department of Business and Professional Regulation
1940 N. Monroe Street
Tallahassee, FL 32399
Phone: (850) 487-1395
www.state.fl.us/dbpr

www.jacksonville.score.org
Southside: 7825 Baymeadows Way, Suite 100B Jacksonville, FL 32256 (904) 443-1900
Downtown: Jacksonville Chamber of Commerce 3 Independent Drive Jacksonville, FL 32202 (904) 366-6618
2
Revised January 2014
LICENSES AND PERMITS
(Continued)
Beverage Licenses
Any business selling alcoholic beverages must apply for a state license. If you only want to sell beer and wine you can
purchase a consumption-on-premise license. If you want to sell liquor you must get a quota license either by buying an
existing license or enter the quota drawing to win the right to apply for a license. The fee for a new license is $10,750.
Retailers and wholesalers of beer, wine or liquor are subject to the federal special occupational tax. Additional information is
at: www.state.fl.us/dbpr/abt
State licensing
Federal Special Occupational Tax Information
Florida Department of Business and Professional
Regulation
Division of Alcoholic Beverages and Tobacco
760 Arlington Expressway, Suite 600
Jacksonville, FL 32211
Department of Treasury; Bureau of Alcohol, Tobacco and Firearms
550 N. Reo Street, Suite 303
Tampa, FL 33609
Phone: (813) 288-1252
www.atf.treas.gov
Fee
State fees are based on the types of beverages sold or served. The license is renewed annually by September 30 th. The
Federal Tax is $250 for retailers, $500 for wholesalers, due each year on or before July 1 st.
Health Permits
Owners of restaurants, motels, hotels and catering and food service businesses need to contact the Division of
Hotels and Restaurants. www.myfloridalicense.com/dbpr/hr
Owners of convenience stores, grocery stores, bakeries, mobile food vendors and food processing businesses
are licensed through the Florida Department of Agriculture www.freshfromflorida.com
Owners of bars, taverns, schools, nursing homes, trailer perks, childcare centers, businesses involving animals
should contact the County Health Department www.doh.state.fl.us
Local Office of: Florida Department of Business Regulation Division of Hotels and Restaurants
4161 Carmichael Ave
3300 Bldg, 2nd floor, Suite 2548
Jacksonville, FL 32207
Phone (904) 727-5540
(First contact: Jacksonville City Health Department for approval, Second contact: Florida Department of Business
Regulation, Division of Hotels and Restaurants Third contact: Local Occupational License Office.)
Florida Department of Agriculture, Food Inspection
Division of Food Safety
(850) 245-5595
Email: foodsafe@freshfromflorida.com
Local Health Departments Offices
Duval County
St. Johns County
900 University Boulevard N. Suite 300
Jacksonville, FL 32211
Phone: (904) 253-1000
1955 US 1 South
St. Augustine, FL 32086
Phone: (904) 825-5055
Clay County
Nassau County
1305 Idlewild Ave
Green Cove Springs, FL 32043
Phone: (904) 529-2800
30 S 4th St
Fernandina Beach, FL 32034
Phone: (904) 548-1800
Fees are prorated by size and type of establishment. For Hotels, Motels and Restaurants, the fee depends on the number of
rental units or on the seating capacity and services provided. Licenses are renewed annually.
www.jacksonville.score.org
Southside: 7825 Baymeadows Way, Suite 100B Jacksonville, FL 32256 (904) 443-1900
Downtown: Jacksonville Chamber of Commerce 3 Independent Drive Jacksonville, FL 32202 (904) 366-6618
3
Revised January 2014
Other Regulatory Agencies
Federal Wage and Hour Law
Any new business that has $500,000 or more in gross sales per year and has any involvement in interstate commerce, with
few exceptions, must comply with the wage and hour law. The Federal wage and hour law covers the minimum wage scale,
overtime, equal pay, child labor, age discrimination, employment record keeping and wage garnishment laws. Employers
have the responsibility to determine if the law applies to their business.
U. S. Department of Labor
3728 Phillips Highway, Suite 219
Jacksonville, FL 32207
Phone: (904) 232-2489 Toll free (866) 487-2365
www.dol.gov
Occupational Safety and Health Act of 1970 (OSHA)
If you own or manage a business, there are legal safety regulations that are your responsibility. All employers are urged to
achieve an in-compliance status voluntarily and prior to ant inspections performed pursuant to the act. Fines and penalties
can be levied for non-compliance.
Occupational Safety & Health Administration, U. S. Department of Labor
Ribault Building, Suite 227
1851 Executive Center Drive, Suite 227
Jacksonville, FL 32207
Phone: (904) 232-2895
www.osha.gov
Employment Eligibility Verification
Every employer with one of more employees is responsible for verifying that employee’s identity and right to work at time of
hiring. An employer must complete an I-9 form on each employee within three days of hiring. On this form the employer
must attest that he or she has seen certain documents verifying the employee’s employment eligibility.
Immigration and Naturalization Service, U.S. Department of Justice
4121 Southpoint Blvd
Jacksonville, FL 32216
Phone: (904) 232-2624
For forms: (800) 870-3676
www.ins.gov
Florida New Hire Reporting Office
In addition to the Federal Requirements listed above (Employment Eligibility Verification) employers need to comply with the
Personal Responsibility and Work Opportunity Act of 1996 which seeks to locate “deadbeat “ parents for child support.
Contact the Florida New Hire Reporting Office at:
(888) 854-4791
www.myflorida.com/dor
Equal Opportunity Laws
Some EEOC-enforced laws that apply to small businesses:
Title VII of the Civil Rights Act of 1964: This law prohibits discrimination on the basis of race, color, religion, sex and
national origin. Title VII applies to employers with 15 or more employees. The Florida Civil rights Act of 1992 adds age,
disability and marital status to the protected classes.
Age discrimination in Employment Act of 1967 (ADEA): This law bars employers with 20 or more employees from
discriminating against individuals aged 40 and older.
Equal Pay Act of 1963 (EPA): The EPA prohibits wage discrimination between men and women. The law applies to all
employers who are covered by the Federal Wage and Hour Law.
For additional information call (800) 669-4000 or visit www.eeoc.gov
www.jacksonville.score.org
Southside: 7825 Baymeadows Way, Suite 100B Jacksonville, FL 32256 (904) 443-1900
Downtown: Jacksonville Chamber of Commerce 3 Independent Drive Jacksonville, FL 32202 (904) 366-6618
4
Revised January 2014
Other Regulatory Agencies
(Continued)
Patents, Trademarks and Copyrights
A patent is an exclusive property right to an invention. A trademark is a name or symbol used by a business to identify its
goods or services and distinguish them from others. Trademarks can be registered at the federal level by the commissioner
of Patents and Trademarks or at the state level by the Secretary of State. A copyright is a form of protection given to an
author.
U.S. Patent and Trademark Office
(800) 786-9199
www.uspto.gov
U.S. Copyright Office
(202) 707-3000
www.loc.gov/copyright
Fictitious Names
A Fictitious Name is any name other than an individual’s legal name. Registration of that name is required if it is used in
business so as to inform the public of who is actually conducting business. Any corporation doing business under a name
other than corporate name must register the other name.
Jacksonville Circuit Court, Index Department
330 East Bay Street, Room 103
Jacksonville, FL 32202
Phone (904) 630-2047
Florida Department of State, Division of Corporations
P.O. Box 6327
Tallahassee, FL 32314
(850) 245-6058
www.sunbiz.org
The registration fee is $50. Registration must be renewed every five years. Name must be registered again if ownership
changes. Registration does not reserve a fictitious name against use by other business owners.
Following is the procedure for registering a fictitious name:
1. Visit the web site listed above or write for application and instructions from address listed above.
2. Run one advertisement in a local newspaper of general circulation
3. Complete application on line or mail with fee to address above.
Child Care Center Licensing
The child care licensing program is a component of the services provided by the Florida Department of Children and
Families. The program is accountable for the statewide licensure of Florida's child care facilities, specialized child care
facilities for the care of mildly ill children, large family child care homes and licensure or registration of family day care
homes. The purpose of the program is to ensure a healthy and safe environment for the children in child care settings and to
improve the quality of their care through regulation and consultation.
Local Offices:
Florida Health & Human Services
5920 Arlington Expressway
Jacksonville, FL 32211
Phone: (904) 723-2000
www.myflfamilies.com
Americans with Disabilities Act (ADA)
The ADA of 1990 prohibits discrimination against people with disabilities.
Title I of the ADA: This title prohibits employment discrimination against qualified individuals with disabilities. It applies to
employers with 15 or more employees.
Title III: This part of the law covers public accommodations. It applies to all businesses that provide goods and services to
the public.
U.S. Department of Justice, Civil rights Division
Coordination and Review Section
P.O. Box 66118
Phone: (800) 514-0301
Washington, DC 20035-6118
www.ada.gov
www.jacksonville.score.org
Southside: 7825 Baymeadows Way, Suite 100B Jacksonville, FL 32256 (904) 443-1900
Downtown: Jacksonville Chamber of Commerce 3 Independent Drive Jacksonville, FL 32202 (904) 366-6618
5
Revised January 2014
Business Structures
Sole Proprietorship
Business owned and operated by one person. Business profit is taxed as personal income on owner’ Schedule C

Advantages: Simple and inexpensive (low start up costs); maximum control

Disadvantages: Personal legal liability; limited ability to raise capital; succession issues.
Partnerships
A partnership is the association of two of more persons as co-owners of a business.
Florida recognizes several forms of partnerships: Partnerships, General Partnerships, Limited Partnerships, Foreign Limited Partnerships
Limited Liability Partnerships or Limited Liability Limited Partnership.
Basic information required to file a: Partnership Registration Statement : The name of the partnership; The state or country of formation; The
Federal Employer Identification Number; The street address of the chief executive office; The street address of the principal office in Florida,
if applicable; The typed or printed names of two partners and their signatures, attesting under penalties of perjury that the facts listed in the
document are true. This document must be dated.
For more information and fees:
Florida Department of State, Division of Corporations
P.O. Box 6327
Tallahassee, FL 32314
(850) 245-6051
www.sunbiz.org
Incorporation Information
Corporations
Any entity that transacts business in Florida as a corporation is required by Florida Statutes to file documents of incorporation or
authorization with the Division and pay the filing fee. A Corporation is a likely choice for businesses with employees or bank financing. A
Corporation is owned by shareholders that elect a board of directors who are ultimately responsible for management of the business. There
are two forms of for-profit corporations (see below).

Advantages: Personal assets are protected if the business fails or is sued.

Disadvantages: Taxes on profits are potentially higher than with sole proprietorships.
S Corporation: So called because it is under subchapter S of the IRS Code; known as Sub S.

Advantages: Most appropriate for start-ups; limits personal liability; eliminates double taxation.

Disadvantages: Taxes on many fringe benefits; limits on retirement benefits; restricts number of stockholders to 100.
C Corporation: So called because it is taxed under regular corporation income tax rules.

Advantages: Limited liability; access to capital (can raise money through sale of stock); perpetual life (unlike sole proprietorship);
ownership can be transferred.

Disadvantages: Profits are subject to double taxation (corporate income is taxed, and then dividends paid to stockholders are taxed
as part of the individual’s income); regulation and paper work; start-up costs, including legal and filing fees.
For more information and fees:
Florida Department of State, Division of Corporations, Corporate Filings
P.O. Box 6327
Tallahassee, FL 32314
(850) 245-6052
www.sunbiz.org
Limited Liability Companies
A Limited Liability Company (LLC) is a hybrid form of business entity combining some of the attributes of a corporation with the status of a
partnership. Any entity that transacts business in Florida as a limited liability corporation is required by Florida Statutes to file documents of
incorporation or authorization with the Division and pay the filing fee.

Advantages: Liability protection; no “member” restrictions; no double taxation: (LLC’s are not subject to Florida Corporate Income
Tax); easier access to capital (compared with partnership).

Disadvantages: Annual reporting to Florida Division; start-up and annual corporate fees to Division of Corporations.
For more information and fees:
Florida Department of State, Division of Corporations
P.O. Box 6327
Tallahassee, FL 32314
(850) 245-6051
www.sunbiz.org
www.jacksonville.score.org
Southside: 7825 Baymeadows Way, Suite 100B Jacksonville, FL 32256 (904) 443-1900
Downtown: Jacksonville Chamber of Commerce 3 Independent Drive Jacksonville, FL 32202 (904) 366-6618
6
Revised January 2014
Taxes
Federal Taxes
Federal Corporation Income Tax
C-corporations pay income tax using federal form 1120 or 1120A. A Limited Liability company classified as a corporation for
federal tax purposes must file a federal corporate income tax form. An S-Corporation generally is not liable for federal
income tax, but must file a federal form 1120S annually and pay tax on certain investment income and capital gains.
Returns are due by the 15th day of the third month after the close of the corporation’s fiscal year.
Federal Unemployment Tax.
Floridians are required to report wages and pay taxes to the federal Unemployment Compensation program is they paid
$1,500 in wages within a calendar quarter or have employed one person for any portion of a day in 20 different weeks during
the calendar year.
Social Security and Medicare Taxes
Employers are required to collect Social Security and Medicare taxes from employees.
Useful small business IRS resources: “Tax Guide for Small Businesses” (Publication 334), “Circular E. Employer’s Tax
Guide” (Publication 15) and “Starting a Small Business and Keeping Records” (Publication 583). All are available on the IRS
internet site.
U.S. Internal Revenue Service
(800) 829-1040 General Information
(800) 829-3676 (forms and publications)
www.irs.gov/smallbiz/index.htm
Local IRS Office:
Internal Revenue Service
Taxpayer Assistance Office
Federal Office Building, Room 163
400 W. Bay Street
Jacksonville, FL 32202
Phone: (904) 665-1040
www.jacksonville.score.org
Southside: 7825 Baymeadows Way, Suite 100B Jacksonville, FL 32256 (904) 443-1900
Downtown: Jacksonville Chamber of Commerce 3 Independent Drive Jacksonville, FL 32202 (904) 366-6618
7
Revised January 2014
Taxes
Florida State Taxes
Florida Corporate Income Tax
Corporations doing business in Florida are subject to the 5.5% tax that is due on April 1st.
For local Florida Corporate Income Tax information:
Florida Department of Revenue
921 N. Davis Street, Suite A-215
Jacksonville, FL 32209
Phone: (904) 359-6070
Florida State Tax Information:
Florida Department of Revenue
(800) 352-3671
www.myflorida.com/dor
www.myflorida.com/dor/froms/efile.html
(e-registration e-filing and e-pay)
Florida Reemployment Tax
Floridians are required to report wages and pay taxes to the Unemployment Compensation program if they paid $1,500 in wages within a
calendar quarter or have employed one person for any portion of a day in 20 different weeks during the calendar year, or are liable for
federal unemployment tax (FUTA) because of employment in another state. This tax is due on: 1/31, 4/30,7/31 and 10/31.
Florida Sales and Use Tax
Florida businesses must collect sales tax for many products and services. Check with the Florida Department of Revenue to determine
what’s taxable. If your business will involve taxable transactions, you must register as a, sales and use tax dealer (form DR-1). Most
businesses pay monthly, with returns and payments due on the first day of the next month after the tax was collected.
Tangible Tax
All businesses with tangible personal property are subject. This tax does not apply to inventory or vehicles. Applicable tax returns must be
filled annually on form DR-405 by April 1st in every county in which a company has tangible property. The county will assess the tax based
on fair market value each year at current rate. There is a 25% penalty for failure to file.
Real Estate Tax
All businesses with real estate must pay this tax. The fee is assessed according to the value of land, the value of any improvements and the
current tax rate.
Duval County
Personal Property Tax Agency
231 E. Forsyth Street, Room 330
Jacksonville, FL 32202
Phone: (904) 630-2014
www.coj.net
Clay County
Tax Collector
Administration Building
477 Houston Street
Green Cove Springs, FL 32043
Phone: (904) 269-6320
www.claycountytax/com
St. Johns County
Tax Collector
4030 Lewis Speedway
St. Augustine, FL 32095
Phone: (904) 209-2250
www.sjctax.us
Nassau County
Tax Collector
86130 License Rd
Fernandina Beach, FL 32034
Phone: (904) 491-7400
www.nassautaxes.com
www.jacksonville.score.org
Southside: 7825 Baymeadows Way, Suite 100B Jacksonville, FL 32256 (904) 443-1900
Downtown: Jacksonville Chamber of Commerce 3 Independent Drive Jacksonville, FL 32202 (904) 366-6618
8
Revised January 2014
Business Plan Outline
See Business Plan templates at www.score.org under Resources
Like accounting, there are generally accepted and recognized methods for writing an effective business plan.
Use this standardized format while still telling your unique story. The key is to write the plan yourself. Nobody
knows your business better than you!
We recommend the following outline:
Cover
Table of Contents
Mission
Executive Summary
Management and Organization
Product or Service Plan
Marketing Plan
Operating and Control System
Growth Plan
Financial Plan
Appendix
Cover:
Tells the reader who you are and how you can be reached. Many people include a picture of their product or
service and feature their logo as well. Some people forget to put a cover on their plans!
Table of Contents
Most people will not read your entire plan. An accountant wants to see the numbers; a sales consultant wants
to see your marketing plan. They are likely to appreciate the fact that you told them where everything is in the
document.
Mission
This is where you put into words how you see your company and how you envision its future. It serves as the
key statement on which your business plan will be based.
Executive Summary
Arguably the most important part of your plan, precisely because it is the only part almost everyone reads! This
is your best chance to get across what you want to do, and create interest. The summary should include
elements of all the other business plan sections, yet be no longer than two pages. Think of it as a two page
business plan. It should address all of the elements of your proposal including: How much money you want,
how the funds will be utilized, and how they will be repaid. If you can not get capture attention here, it is unlikely
anyone will read any further.
Management and Organization
This section lets you list the primary job duties, what those responsibilities are, and who does them. This is
where you establish credibility by discussing the background, experience and aptitude of your personnel. Those
who will be reading and evaluating your business plan will be looking for evidence of a cohesive Management
Team. Investors would rather back a second rate idea with a great management team, than a first rate idea with
a poor management team.
Product and/or Service Plan
You must convey to the reader exactly what you are doing or making. You need to ensure potential investors
that all the details have been considered and that you have no problems with your products. Remember not to
www.jacksonville.score.org
Southside: 7825 Baymeadows Way, Suite 100B Jacksonville, FL 32256 (904) 443-1900
Downtown: Jacksonville Chamber of Commerce 3 Independent Drive Jacksonville, FL 32202 (904) 366-6618
9
Revised January 2014
get too technical. Your audience is much more interested in what you product does and what its potential is,
rather than how it works.
Marketing Plan
Frequently used on its own to convey your marketing approach, the marketing section is of vital importance if
people are to become aware of your company and purchase your product.
Typically, the marketing plan has four parts: A profile of your industry, a look at your competition, how you are
going to market your product/service (and to whom), and how it will be priced.
This is often a poorly written section, as a good marketing plan requires investigation, research and analysis.
Many businesspeople are god at selling, but not effective market planners.
Don’t just say you are going to advertise in the Yellow pages or Florida Times-Union. Tell people why you are
choosing those advertising venues and how they reach your customer.
Operating and Control Systems
This is where you demonstrate that you have implemented a system to make your business run effectively.
Potential investors want to see that you have a schedule and that you recognize that there are sequences of
events from the time and order is received through fulfillment.
Growth Plan
What will your company need in the future? What are your long-term expansion plans? Investors want to know
that you are not a “flash in the pan” and are looking at the big picture. Try to make assumptions based on solid
information. Don’t just increase your sales by the same percentage every year. Most growth plans look three
years into the future.
Financial Plan
This is a very important component of your plan, and it is appropriate that it is shown last. The previous sections
show how you led up to this meaningful financial information. This is where you analyze what dollars will be
needed to implement the business plan.
You need to show a budget that accurately reflects all of the areas in which you are spending funds. Some
areas are projected based on assumptions. The assumptions you make will show how the budget figures were
derived. You will have to defend your assumptions by having a good reason for your financial decisions.
Projections show the reader how much cash is flowing through the business and reflect you monthly pre-tax
income. It is not surprising that investors are very interested in these figures.
Your income statement shows how well the business has been doing over a stated period of time. The balance
sheet looks at a specific time, and ratios look at the business at various points of time.
This in itself is why business plans have to be updated often. Financial information must be as recent as
possible in order to be credible.
The executive summary and financial plan are your most read sections of a plan, so put the appropriate amount
of time into both.
Appendix
This is where you put other salient information you want your reader to have. Typical components found in the
appendix of a business plan are resumes of key personnel, news articles about the company, contracts,
patents, photographs of the product, and letters of reference.
This can be a valuable section if done correctly. Avoid clutter and meaningless information. Strive to place the
information in order consistent with the other sections of the plan. You can cite appendix information as you
write the other sections of your plan, but do so sparingly.
While any plan is better than no plan at all, a well conceived, well written business plan can make all the
difference between investor interest and investor apathy. Smart companies have great business plans. Do you
think your competition wants you to have a plan?
www.jacksonville.score.org
Southside: 7825 Baymeadows Way, Suite 100B Jacksonville, FL 32256 (904) 443-1900
Downtown: Jacksonville Chamber of Commerce 3 Independent Drive Jacksonville, FL 32202 (904) 366-6618
10
Revised January 2014
Business Insurance
Like home insurance, business insurance protects the contents of your business against fire, theft and
other losses. Contact your insurance agent or broker. It is prudent for any business to purchase a
number of basic types of insurance. Some types of coverage are required by law, other simply make
good business sense. The types of insurance listed below are among the most commonly used and are
merely a starting point for evaluating the needs of your business.
Liability Insurance -- Businesses may incur various forms of liability in conducting their normal
activities. One of the most common types is product liability, which may be incurred when a customer
suffers harm from using the business product. There are many other types of liability, which are
frequently related to specific industries. Liability law is constantly changing. An analysis of your liability
insurance needs by a competent professional is vital in determining an adequate and appropriate level
of protection for your business.
Property -- There are many different types of property insurance and levels of coverage available. It is
important to determine the property you need to insure for the continuation of your business and the
level of insurance you need to replace or rebuild. You must also understand the terms of the insurance,
including any limitations or waivers of coverage.
Business Interruption -- While property insurance may pay enough to replace damaged or destroyed
equipment or buildings, how will you pay costs such as taxes, utilities and other continuing expenses
during the period between when the damage occurs and when the property is replaced? Business
Interruption (or "business income") insurance can provide sufficient funds to pay your fixed expenses
during a period of time when your business is not operational.
"Key Man" -- If you (and/or any other individual) are so critical to the operation of your business that it
cannot continue in the event of your illness or death, you should consider "key man" insurance. This
type of policy is frequently required by banks or government loan programs. It also can be used to
provide continuity in operations during a period of ownership transition caused by the death or
incapacitation of an owner or other "key" employee.
Automobile -- It is obvious that a vehicle owned by your business should be insured for both liability
and replacement purposes. What is less obvious is that you may need special insurance (called "nonowned automobile coverage") if you use your personal vehicle on company business. This policy covers
the business' liability for any damage which may result for such usage.
Office and Director -- Under some circumstances, officers and directors of a corporation may become
personally liable for their actions on behalf of the company. This type of policy covers this liability.
Home Office -- If you are establishing an office in your home, it is a good idea to contact your
homeowners' insurance company to update your policy to include coverage for office equipment. This
coverage is not automatically included in a standard homeowner's policy.
www.jacksonville.score.org
Southside: 7825 Baymeadows Way, Suite 100B Jacksonville, FL 32256 (904) 443-1900
Downtown: Jacksonville Chamber of Commerce 3 Independent Drive Jacksonville, FL 32202 (904) 366-6618
11
Revised January 2014
Financing Your Business
A start-up or early-stage business has virtually no chance of getting a significant bank loan. Unless you have a
proven track record, lenders are not willing to put their money on the line. Where does the money come from?
Here are a few suggestions:

Stick close to home:




Home equity loan
Friends and Family
Profit-sharing funds from your previous job
If you need more than these sources can provide, consider:





Personal Savings
Business credit card
Store credit
Bank loan

Limited Partnership

Private/Stock offering
Seek Venture Capital only if your business has the potential to achieve multimillion-dollar sales within five
years. For additional information:


National Venture Capital Association (703) 524-2549 or www.nvca.org
National Association of Small Business Investment Companies at (202) 628-5055 or www.nasbic.org

Do not get bogged down hunting for funds: if you encounter problems raising money, try to start your
business on a smaller scale.

Be sure you know your current credit rating and history – For both you (personal credit rating) and your
business. Try to find out which credit reporting service your prospective lender uses and request a report
from that company. The three major credit reporting companies are :
 Equifax (800)997-2493 www.equifax.com
 Experian (888) 397-3742 www.experian,com
 Trans Union (800) 888-4213 www.transunion.com

When reviewing a loan request, the lender is primarily concerned with repayment. Loan officers judge loan
applications based on what is commonly referred to as the “Five C’s of Credit”:
1. Character: Lenders will order a copy of your credit report and look at debit repayment trends. They
want to simply know if you pay your bills and if you pay them on time. If there are blemishes on your
report, explain them.
2. Cash Flow: Lenders will look at historical and projected cash flow statements to determine whether you
will be able to repay the loan and still have money to adequately run the business. Include written
justification for your projections in your loan proposal.
3. Collateral: Collateral is an asset (something you own) which a lender may claim to satisfy a loan in the
event the loan is not repaid according to the required terms. Often the items purchased with the loan
may serve as collateral. If the business does not have enough collateral, the bank will look to personal
assets.
4. Capitalization: Capitalization refers to the basic resources of the business including; owner’s equity,
retained earnings, and fixed assets. You do not have to be fully capitalized to qualify for a loan.
5. Conditions: Factors that affect the success of the company yet are external to the business will also
be considered by the lender. Examples include; government regulation, competition and industry
trends.
www.jacksonville.score.org
Southside: 7825 Baymeadows Way, Suite 100B Jacksonville, FL 32256 (904) 443-1900
Downtown: Jacksonville Chamber of Commerce 3 Independent Drive Jacksonville, FL 32202 (904) 366-6618
12
Revised January 2014
S–T–A–R–T–U–P
Select the Idea
What type of business would you like to start? Start from scratch, existing, franchise?
Do you know the business, its customers and competitors? Consider working in the business before investing.
Are you fit to be an entrepreneur? The new business is 24/7.
Test the Market
Learn everything possible about the business itself, the industry, and the target market. Know thy competitor! What are his
strengths and weaknesses?
Who will buy your product? At what price? Develop marketing strategy.
Acquire Capital
Determine capital needs. Don’t under estimate. Include funds for you to live on.
Sources of funds include personal savings, family and friends, second mortgage, bank loan, credit cards, etc.
A substantial portion of funds must come from owner. Know your personal credit history; prepare financial statements and
business plan before you seek outside help.
wRite a Business Plan
The Plan will prove to you, and potential investors or lenders that the business idea is feasible.
Clear focused description of the business concept (what you are selling), a market assessment (who will buy it, who are the
competitors), a financial assessment (what will they pay, will I make a profit), and a self assessment (do I have what it takes).
Turning for Help
Obtain a professional team; attorney, accountant, insurance broker, and banker.
SCORE, Small Business Center (SBC), UNF Small Business Development Center; Use SBC workshops on Startup,
Marketing, Understanding Financials, and Business Plan
Understand Legal Requirements
Select the legal structure; sole proprietorship, partnership, or corporation (S Corp, C Corp, or LLC). Register the name of the
business; obtain proper licensing and permits from city, county, and state
Know what types of insurance are required; unemployment, workers compensation, etc.
File the proper tax forms; federal and state, sales tax, etc.
Intellectual property – trademarks, copy write, patent issues?
Project the Cash Flow
Know how much money you will need to start up the business. Know your monthly fixed expenses after startup. Find your
cash flow breakeven point. Use the cash flow forecast to evaluate changes in business assumptions.
As a minimum, project monthly cash flow for year 1 and quarterly for years 2 and 3.
www.jacksonville.score.org
Southside: 7825 Baymeadows Way, Suite 100B Jacksonville, FL 32256 (904) 443-1900
Downtown: Jacksonville Chamber of Commerce 3 Independent Drive Jacksonville, FL 32202 (904) 366-6618
13
Revised January 2014
Sources for Research (Just a few to get you started)

SCORE
o SCORE Jacksonville (www.jacksonville.score.org)
o SCORE National (www.score.org)

Jacksonville Specific
o Chambers of Commerce (www.myjaxchamber.com)
o Small Business Center (www.jaxsbc.com)
o UNF Small Business Resource Network (www.sbrn.org)
o Jacksonville City (http://www.coj.net/I+am/a+business/default.htm)

Florida
o Florida Information (www.myflorida.com)
o Florida Corporations/Fictitious Name (www.sunbiz.org)
o Florida Trend (www.floridasmallbusiness.com)

Federal Government
o Small Business Administration - SBA (www.sba.gov)
o IRS Small Business and Self Employed One Stop Resource
(http://www.irs.gov/businesses/small/index.html)

Small Business Publications
o Wall Street Journal Startup (http://www.startupjournal.com/)
o Wall Street Journal Startup Guides (http://guides.wsj.com/small-business/)
o Business Week Small Business (http://www.businessweek.com/smallbiz/)
o Fortune Magazine (http://money.cnn.com/smbusiness/index.html)
o Inc.com 9 (www.inc.com)

Business Plans
o SCORE JAX Workshop (http://www.scorejax.org/wssoftware.html)
o Bank of America Small Business Resources
(www.bankofamerica.com/smallbusiness/resourcecenter/)
o Intuit Small Business Resources (www.jumpup.com)

Other Sources
o Business Statistics (www.bizstats.com)
o Thomas Register of American Manufacturers – (www.thomasregister.com)
o Public Library or the BIC
 Annual Statement Studies, RMA – www.rmahq.com
 Trade Associations – Encyclopedia of Associations
o Compensation: www.salary.com
o Market Research Firms
o Competition
o Suppliers
o Customers
www.jacksonville.score.org
Southside: 7825 Baymeadows Way, Suite 100B Jacksonville, FL 32256 (904) 443-1900
Downtown: Jacksonville Chamber of Commerce 3 Independent Drive Jacksonville, FL 32202 (904) 366-6618
14
Revised January 2014
Achieve Your Dream Workshop Content
Session 1: Foundations for Your Business
Discover the fundamentals for small business success
Start up, Business Structures, Customer Profile, Defining Your Product or Service
A proper foundation is important for the success of your small business. Examined are the different
types of business structures (Sole Proprietor, LLC etc) and the professionals needed to help you
start or grow your business. Discover who makes your business successful – your customer (target
market) and how to determine who is best suited to utilize your product or service. Look forward to
in class interactive exercises including developing your unique customer profile and creating your
business identity.
Session 2: Business and Finance Basics
Determine if your business will make money
Naming your Company, Logo, Tagline, Competition, Financial Basics, Business Networking
Learn how to create a memorable business name, and why a logo and tagline are important. Next
discover why it is important to analyze your competition so you can create a thriving business. Then
interact with us to create your basic financial picture to help answer the questions: “How much
money do I need to start or grow my business?” “Am I charging enough for my product or service?”
“Will my business make money?” The session ends with how business networking is critical to
promoting and impacting your bottom line. Interactive class exercises include creating your tagline
and predicting through financial calculations what it will cost to start or maintain your business.
Session 3: Marketing Strategies
Learn successful, inexpensive ways to market your product or service
Buying Decisions, Building a Website, Low Cost Marketing Methods and Tools, Social Media
We let out the big secret: Who buys most products and services? – The answer may surprise you!
Learn how to create a marketing message that maximizes its appeal to the markets you intend to
serve. Did you know that you can create a website? – for free! We show you how. Costs to promote
your business can be expensive – learn 10 different low cost methods and tools. We discuss how to
use social media (Facebook etc) to promote and gain new customers. Learn how to price your
product or service that satisfies your customer’s needs and your bottom line. Learn from examples,
the rights and wrongs of marketing and advertising.
www.jacksonville.score.org
Southside: 7825 Baymeadows Way, Suite 100B Jacksonville, FL 32256 (904) 443-1900
Downtown: Jacksonville Chamber of Commerce 3 Independent Drive Jacksonville, FL 32202 (904) 366-6618
15
Revised January 2014
Session 4: Create Your Plan for Your Business
Putting it all together to create a practical plan to start or grow your business
Create Elevator Speech, Business Plan Basics
This is our most interactive workshop. We start by helping you develop your “elevator pitch” – a 30second speech that tells your customer, banker or neighbor quickly and effectively what your
business is about. Then we pull together the first 3 sessions to help you begin to write out some of
the detailed plans for your business. What is a business plan? – It is a tool that is a proposed course
of action that shows how you plan to accomplish your goals. It is a vital document that helps with
start up, managing and operating your business. It is a road map for success. Use your business
plan to guide you or to obtain financing.
The Workshops are scheduled up to four times a year; the schedule can be found
on www.jacksonville.score.org
www.jacksonville.score.org
Southside: 7825 Baymeadows Way, Suite 100B Jacksonville, FL 32256 (904) 443-1900
Downtown: Jacksonville Chamber of Commerce 3 Independent Drive Jacksonville, FL 32202 (904) 366-6618
16
Revised January 2014
Trade Associations for Florida Business
Florida's small businesses often turn to
trade associations for industry research,
networking and, perhaps most important,
lobbying support in Tallahassee.
Membership costs and services and
interaction with members vary widely from
group to group.
Accounting
Florida Institute of Certified Public
Accountants
(850) 224-2727
www.ficpa.org
Agriculture
Florida Farm Bureau Marketing Division
(352) 378-8100
www.floridafarmbureau.org
Florida Citrus Commission
(863) 537-3999
www.fdocgrower.com
Florida Fruit and Vegetable Association
(321) 214-5200
www.ffva.com
Architects
Florida Association of the American Institute
of Architects
(850) 222-7590
www.aiafla.org
Attorneys
The Florida Bar
(850) 561-5600
www.flabar.org
Banking and Finance
Florida Bankers Association
(850) 224-2265
www.floridabankers.com
Florida Credit Union League
(850) 576-8171
www.fcul.org
Florida International Bankers Association
(305) 579-0086
www.fiba.net
Business and Industry
Florida Chamber of Commerce
(877) 521-1200
www.flchamber.com
Associated Industries of Florida
(850) 224-7173
www.aif.com
National Federation of Independent
Business
(800) 634-2669
www.nfib.com
Florida United Businesses
Association
(850) 681-6265
www.fuba.org
Florida League of Cities
(800) 342-8112
www.flcities.com
Florida Economic Development
Council
(813) 977-3332
www.fedc.net
Florida Association of Counties
(850) 922-4300
www.fl-counties.com
Contractors, Construction
Florida Roofing, Sheet Metal & Air
Conditioning Contractors Assoc.
(407) 671-3772
www.floridaroof.com
Asphalt Contractors Association of
Florida
(850) 222-7300
www.acaf.org
Florida Concrete & Products
Association
(800) 342-0080
www.fcpa.org
Florida Associated General
Contractors Council
(850) 222-2421
www.floridafl.org
Florida Association of Electrical
Contractors
(407) 260-1511
www.faeccf.org
Florida Home Builders Association
(850) 224-4316
www.fhba.com
Education and Training
Association of Florida Colleges
(850) 222-3222
www.myafchome.org
Florida Education Association
(850) 201-2800
www.feaweb.org
Engineering
Florida Engineering Society
(850) 224-7121
www.fleng.org
Forestry
Florida Forestry Association
(850) 222-5646
www.floridaforest.org
Horticulture
Florida Nurserymen and Growers Association
(800) 375-3642
www.fnga.org
Hospitality
Florida Restaurant Association
(888) 372-9119
www.frla.com
North Florida Hotel & Lodging Association
(904) 421-9176
www.northfloridalodging.com
Central Florida Hotel & Lodging Association
(407) 313-5000
www.cfhla.org
Insurance
Florida Association of Insurance Agents
(850) 893-4155
www.faia.com
Labor
Florida AFL-CIO
(850) 224-6926
www.flaflcio.org
www.jacksonville.score.org
Southside: 7825 Baymeadows Way, Suite 100B Jacksonville, FL 32256 (904) 443-1900
Downtown: Jacksonville Chamber of Commerce 3 Independent Drive Jacksonville, FL 32202 (904) 366-6618
17
Revised January 2014
Trade Associations for Florida Business
Marine
Florida Ports Council
(850) 222-8028
www.flaports.org
Real Estate
Florida Association of Realtors
(407) 438-1400
www.floridarealtors.org
Medical and Pharmaceutical
BioFlorida Inc.
(561) 653-3839
www.bioflorida.com
Florida CCIM Chapter
(800) 621-7027
www.flccim.com
Florida Dental Association
(850) 681-3629
www.floridadental.org
Retail
Florida Retail Federation
(888) 357-3824
www.frf.org
Florida Hospital Association
(850) 222-9800
www.fha.org
Associated Grocers of Florida
(954) 876-3000
www.agfla.com
Florida Medical Association
(800) 762-0233
www.flmedical.org
Florida Pharmacy Association
(850) 222-2400
www.pharmview.com
Publications And Printing
Printing Association of Florida
(407) 240-8009
www.pafgraf.org
Technology
Florida High Tech Corridor Council
(407) 708-4630
www.floridahightech.com
InternetCoast
www.internetcoast.com
Transportation, Trucking,
Automotive, Aviation
Florida Transportation Builders
Association
(850) 942-1404
www.ftba.com
Florida Trucking Association
(850) 222-9900
www.fltrucking.org
Florida Aviation Business
Association
(321) 383-9662
(800) 280-9662
http://faba.aero
Utilities
Florida Municipal Electric
Association
(850) 224-3314
www.publicpower.com
Florida Electric Cooperatives
Association
(850) 877-6166
www.feca.com
www.jacksonville.score.org
Southside: 7825 Baymeadows Way, Suite 100B Jacksonville, FL 32256 (904) 443-1900
Downtown: Jacksonville Chamber of Commerce 3 Independent Drive Jacksonville, FL 32202 (904) 366-6618
18