If you find tasks related to company formation such as filing documents, business compliance, legal formalities and obtaining licenses time-consuming and stressful, then you should find the right formation service for your business.
Many business owners find the company formation process quite an arduous and complicated task. This is one of the main reasons that many business owners decide to hire a formation service.
A formation service is a professional company that will complete all the necessary paperwork and organize the whole formation process, allowing you to focus on more important things like business growth. TRUiC offers a guide with reviews of the top LLC formation and incorporation services but before you check them out, take a look at how a formation service can benefit your company.
What Services can a Formation Company Offer?
A formation service company will handle the entire business formation process and offer their support whenever you need it. Many companies offer these services and depending on your needs, you can select basic or more advanced packages.
A business formation company can help:
- Do the research and find an available business name
- File the Articles of Organization
- Take care of compliance by sending biennial or annual report notifications and other ongoing state requirements
- Help with issuing an Employer Identification Number (EIN), also called a Tax ID Number that is needed to open a bank account, obtain financing for your business, hire employees or offer retirement plans
- Create an Operating Agreement – protects the owner’s personal assets, defines the purpose of the company and the roles of the owner and the members
- Offer a registered agent service, where a registered agent will act as the main point of contact between your company and the official government office, handle filing, correspondence, notice of lawsuits, and other important legal notices and paperwork.
- Obtain all the licenses and permits that your business needs to run smoothly
A formation service company can also offer additional services to support all of your company’s needs. If time is an important factor when forming your business, a formation service can help get things done quickly, taking only a few days for tasks that would otherwise take weeks. Also, a formation service can send alerts for important compliance and filing requirements and offer real-time order tracking and free shipping, They can also offer an online dashboard where you can view and print your business documents any time. They can also provide advice about accounting matters and filing for taxes.
Why is a Formation Service Beneficial to Companies?
As a business owner, you need to focus on your business’s growth and allocate any tasks that you are not familiar or experienced with to experts. Tasks related to company formation like filing documents, compliance and legal requirements, obtaining licenses and permits, all of which are vital for your company’s smooth operation can be outsourced.
Find below why hiring a formation service can be beneficial for your business.
They will handle all things necessary to start your business
All paperwork, legal tasks, licenses, and permits will be handled by the formation service, leaving you more time to focus on your business.
You will have support whenever you need it
A formation agency will be available throughout the whole process, offering you customer support each step of the way.
A formation service can advise you on current and future matters
A formation service can support you in forming your business, but the collaboration will not stop there. They can inform you about any changes in a procedure or a new state requirement. If you want to move your business to another state, they will do all the research and handle the entire process according to state requirements for you.
Hiring a formation service will save you time
When you hire a formation service they will take care of the entire business formation process and paperwork. This will save you a lot of time, so instead of struggling with the paperwork and state-required tasks, you will have more time to grow your business.