Small businesses make up a huge portion of the US economy. They employ 46.8% of all US employees. Additionally, 909,808 small businesses opened between March of 2019 and March of 2020. Alarmingly however, 843,229 small businesses closed during this same time period. These statistics demonstrate the significance of small businesses to the US economy while at the same time highlighting the difficulty of succeeding. One of the best things which any small business can do to help with their success is to incorporate an LLC.
An LLC or limited liability company is a business entity which provides limited liability protection to its owners. This means that the personal assets of the owners are exempt from the liability which the company ensues and the company’s assets are exempt from the liability which the owner ensues as an individual. This structure is very preferable for a number of reasons. The first is the asset protection and separation which it provides. The second is that an LLC requires far less upkeep and administration than a corporation does while still being able to provide limited liability protection. These benefits are accompanied by others such as tax benefits and increased credibility for your business.
Benefits of LLC Formation Services
The benefits of an LLC can be obtained through starting one on your own or for added convenience using an LLC formation service. These services are inexpensive and take care of a lot of hassle on your behalf. They offer many benefits outside of this as well.
Registered Agent Services
Every LLC irrespective of state will require a registered agent. This is an individual or business who is responsible for the receipt of important documentation on behalf of your business. This business or individual will need a non PO Box address in the state in which your LLC is formed. It is helpful to have a business take care of this for you especially if you do not reside in the state in which your business is located. Many LLC formation services will offer registered agents services as an added bonus making the process even easier.
Copyright: Incorporation Guru
Most LLC formation services will offer customer support to you during the process of establishing your LLC. This will enable you to have a greater degree of assistance during the process and allow you to ask questions and receive helpful advice in return. Although this may not be needed during the process of establishing your LLC it is still helpful that it exists and that you do not have to go into any process unprepared or uncertain.
Reduce Risk of Error
An LLC formation service will be experienced in the process of establishing LLCs. They will know which forms to fill out and how to fill out these forms without making mistakes. Additionally, they have the resources to make sure they do not miss anything or make any miscalculations. The service will assist you through the various steps of the process of establishing your business to make sure you complete everything correctly.
An LLC formation service will save you time when you need it most. You will not have to worry about the forms and processes which are required for establishing your LLC giving you greater time to focus on the pressing matters which affect your business. This will remove one of the technical steps of starting your business and free up your time from having to engage significantly with this process.
Peace of Mind
In a similar vein to this is the added peace of mind which an LLC formation service will provide to you. Not only will the service save you time but it will save you important mental energy as well. The benefits which this offers are not often considered and will be truly significant in the process of establishing your business. Knowing that one aspect of your business journey is handled efficiently in a manner which requires little time or input on your behalf is a great way to ensure peace of mind. This is enforced by the earlier point of substantially reducing the risk of error in starting your LLC.
If you are an aspiring business owner and would like to learn more about LLC formation services click here for a list of the best LLC formation services available.
Small businesses are established frequently and are benefited tremendously by an advantage which they can get. One such advantage in this space is the formation of an LLC. This will mitigate some of the risk involved with starting a small business as well as provide other benefits. While the process of establishing and maintaining an LLC is easier than the processes for a corporation it still contains nuance and a degree of administrative legwork. This can be taken care of for you in a reliable and efficient manner by an LLC formation service. These services provide benefits from added convenience and time saving to peace of mind and registered agent services.