Do you want to start your own business? Then the US Small Business Administration suggests that micro businesses will need around $3,000 to start. For home-based franchises, this amount can be anywhere between $2,000 to $5,000.
If you save up for a while, it’s feasible to attain this startup cash. But having the bare minimum simply isn’t enough, nor is it wise. Not only should you save as much as possible, but you should also look for smart ways to cut costs.
One way to do so is to go with cheap company formation. Here’s how you can do company formation registration affordably.
Do It Yourself
Generally, it’s recommended that you consult with lawyers, accountants, and business advisors when forming a business. However, it’s technically possible for you to DIY company formation.
Many jurisdictions have step-by-step guides and resources online you can use to help with the process. There are also business development centers and online communities that have plenty of free resources, such as templates, guides, and tools.
The one caveat to this route is that it’ll take up a lot of your time and energy. It can sap you of your enthusiasm before you even get your business off the ground, which can take a huge toll.
In addition, it’s not easy to ensure that your company’s compliant with legal and regulatory requirements. If you don’t do things correctly at the beginning, then it may possibly stir up a lot of trouble in the future.
To avoid these issues, it’s best if you still consult with professionals, but make more cost-effective choices.
Minimize Your Initial Expenses
Let the experts at Business Anywhere guide you on your way!
When starting your company, try to keep initial expenses to a minimum.
Consider operating from a home office or a shared workspace instead of renting a dedicated office space. You should only purchase essential equipment and supplies to begin with too.
This will save money and allow you to have more breathing room when starting your business. You can switch to a dedicated office space and buy more equipment and supplies once your company takes off.
Choose the Right Business Structure
There are several business structures you can select:
- Sole proprietorship
- Partnership
- Limited liability company (LLC)
- Corporation
Many entrepreneurs create LLCs because they’re not responsible for the company’s liabilities or debts. However, it’s up to you to research and evaluate the associated costs and benefits, so you can determine which business structure is optimal for you.
This is where the assistance of a lawyer or accountant could be useful. However, as you already know, their rates can be high, so if you feel confident, you can perform your own research instead to better understand the differences between these structures.
Take Advantage of Local Support
Check and see if there are any local programs, grants, or incentives available to entrepreneurs. Local governments, economic development organizations, or business associations may offer financial assistance or reduced fees for company formation.
If you aren’t sure where to begin, then a Google search should yield good results. Get in touch with these organizations, and they can point you in the right direction.
Hold Off on Expensive Trademark Searches
We’re not saying you should never do them, but it’s not financially smart to perform trademark searches in the early stages of your company. Instead, you should focus on building your business before investing in these expensive searches.
You can initially operate under a unique business name, then reassess the need for trademark protection later on.
Utilize Online Company Formation Services
There are businesses that specialize in online company formations, such as Business Anywhere. While it’ll cost you extra money, they often offer cost-effective solutions, and they’re certainly less expensive than lawyers and accountants. These experts can streamline the process and provide necessary documents, templates, and guidance at a fraction of the cost compared to traditional methods.
Plus, they have different tiers of services. You can always opt for basic packages that cover the essential requirements. Of course, if you have the budget for it, or you see things that are crucial for your specific situation, you can get add-ons and premium features.
Research and Compare
Don’t just pick a random company formation service. Do yourself a favor and research and compare beforehand.
Seeing a wide array of offerings gives you a better idea of what a reasonable company charges. Also, you’ll have more flexibility, as there will be more packages to choose from. There will be a higher chance of finding someone who has affordable packages tailored to your needs too.
Why Use Business Anywhere?
After doing your research, you’ll quickly realize that Business Anywhere is the company to trust to register your business online.
Not convinced? Then here are the reasons why you should use our cheap company formation services.
We’re Affordable
Our most basic package starts at $37 plus state fees. It’ll be tough to find an experienced and reputable company that can offer such competitive rates.
In addition, we have three packages that cost $297 and $497 respectively. These give you additional benefits, such as quicker filing and EIN application filing too. There are no hidden fees either.
And if you’re skeptical, we have free no-obligation consultation services!
Our Services Are Comprehensive
Even if you choose the lowest tier of service, we bundle the package with other helpful services. They include:
- Free 1st year registered agent service
- Free 1st year registered address
- Mail scanning of legal mail
- Operating agreement template
- Automated compliance
- Automated annual renewals
It’s Quick and Easy
We’ve created a simple form and registration process so there’s as little interruption to your busy day as possible. It should take no longer than 10 minutes to complete, and we’ll do everything else for you.
After registration, you’ll have instant access to a personalized dashboard.
Get Cheap Company Formation With Us
If you’re an entrepreneur with little cash, then cheap company formation is probably on your mind.
Thankfully, there are ways you can cut corners, but not all of them are worth it in the long run. The best thing you can do is utilize business formation services, as they’re cost-effective and will save you time and energy too.
For thorough and easy company formation, get started with Business Anywhere now.
