Starting a new business is a challenging endeavor – it’s essential to be prudent about the risks involved. Often times, one of the first questions business owners will ask themselves is what type of business entity they should form. Many choose to incorporate, because of the distinct advantages these entities (Corporation, S Corporation and LLC) offer business owners. These types of business entities can protect your personal assets by legally declaring them separate from your company’s assets. This means that if your company is sued or in debt, only business-related assets are at stake.
When it comes to incorporation, if you are not entirely sure of the process, doing it yourself can be a huge undertaking. More often than not, it’s easier to hire a professional to take care of these matters. More and more business owners are now turning to online incorporation services. Why, you might ask? because of two factors:
When you incorporate online, these service providers offer a quick turn-around when it comes to the formation process. Many can form your business in as little as 24 hours or less. This means that your business can be up-and-running in literally no time at all.
When you incorporate online, typically the cost associate with this service is much lower than if you hired your own lawyer to do this directly for you. Meaning that you can basically save yourself a ton of money.
When and if you do decide to incorporate your business make sure that you follow these tips when looking for the appropriate online incorporation service:
Do your Homework:
If you are new to this process, make sure that you research the various companies you might be interested in working with. Ask them how long they have been in business for and what their experience is. It’s important to examine the specific entities these organizations have helped form in the past. If you want to create an LLC, make sure the business has ample experience doing so.
Choose a Company:
Once you have narrowed down your list. Now is the time to choose an organization that meets all or most of your needs. If you require a quick turn-around or you are looking for an affordable formation package, make sure the company you choose is in alignment with your needs.
Most services online ask you to fill out information as it pertains to your business and allow you to choose what your formation package will include. These being items such as: preliminary name clearance with state, preparation and filing of formation documents, corporate kits and tax ID number preparation.