You've decided you're tired of waiting for the pandemic to pass and you want to start your own business. Perhaps your hours were cut at work or you were furloughed. Whatever your reason is for wanting to start your own business, please keep the following in mind...Working for yourself is hard work and not for the faint of heart. If you are not willing to eat, sleep and think about your business start-up 24/7 don't do it! But if you're willing to put forth the effort, let's go!
First step to owning your own business is deciding the business structure. Are you going to be a sole proprietorship, single member LLC, form a partnership with someone else or a corporation? For this example, we are assuming you will form a LLC., but aren't sure how to proceed. You can incorporate online with a few clicks of your mouse. Here are a few reasons to incorporate online:
1. You Don't Have To Leave Your House
You can get all the help you need from the safety and comfort of your own home office. With one internet search, you can find all the facts about corporations you will need. Companies that offer incorporation services online are usually experienced and can provide you with the necessary paperwork and advice needed to ease the process. You'll save yourself much time and headaches by using an online incorporation service and you won't have to leave your home.
2. Multiple State-by-State Incorporation
You can incorporate online within minutes no matter where you live in the US. Some online services can even help to process incorporation paperwork in multiple states. The service providers can help you with detailed information about the state fees to start a business, the total cost for incorporating, tell you how long the process will take, and what steps or paperwork required to start incorporating in a particular state.
3. You Can Incorporate Quickly
Some online service providers offer expedited incorporation services. This service can be expensive and only useful if you need to incorporate your business in a hurry. When using this option, your business could be incorporated within 10 days or less.
4. Do Your Research
When you incorporate online, you can research all the facts about incorporation before you decide to take that final step. This will help you make an informed decision and determine the proper setup for your new business.
You can also compare different business structures, such as Corporation, S Corporation, forming an LLC (Limited-Liability Company), sole proprietorship, and partnership. You may decide to form an LLC but elect to be taxed as an S Corporation. It is important to make this decision at the beginning of the process. That is why research is crucial in the beginning stage.
5. Save Money
By incorporating yourself, rather than hiring an agent or attorney to do the paperwork for you, you can save a lot of money that could be spent on other business start-up expenses. Online services operate with minimal expenses by providing all necessary forms via the web or email. These savings are passed on to you and you are able to incorporate with a minimal investment.
These are just a couple of reasons to incorporate online, but there are many other benefits. Do your research and you will find all the benefits of incorporation and get your business off to a great start!