Establishing your own business for the first time? This can be an exciting yet overwhelming stage of your life.
As a new entrepreneur, you will have to learn to fill different roles at the same time, especially while you’re starting out. That’s why it’s important that you also know how to take advantage of available resources.
To lighten your burden, you need to hire competent team members. Aside from that, you may also want to consider hiring third party providers – such as a registered agent.
What is a registered agent?
Also known as resident agent or statutory agent, a registered agent acts as your business’ representative.
According to a Forbes feature:
“A registered agent is a person or company that is designated to receive legal correspondence on behalf of the company… (They) relay important messages to the owner in a timely manner. This includes government, tax and legal correspondence.”
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These days, most states require businesses to have their own registered agents. While it is possible to function as the registered agent of your company, it makes perfect sense to tap third party providers instead.
When you hire a professional, you get a dependable expert to work on your documents and requirements. Deadlines are met and you are immediately informed if something needs your attention.
6 ways your new business benefits from having a registered agent
1. You will save time
Running a new startup can be quite challenging, especially in the early days. In the first place, you’re still learning the ropes. You’ll also be working hard to attract customers. That’s why you can surely benefit from tapping all the help you can get.
The first obvious benefit of working with a registered agent is that they can help you save time. They’ll gladly handle time-consuming administrative and legal paperwork for you. Effective registered agents are highly familiar with the needed forms and due dates for different compliance requirements. You can definitely rely on them to complete your document filings in a timely manner.
As a result, you can focus more on your business and even enjoy a healthier work-life balance.
2. You can protect your privacy
Another advantage of having a registered agent is privacy protection. Instead of listing your name and contact details in public records, your registered agent’s information will be listed instead.
This means you can avoid getting lots of junkmail. You get protected against marketers who may potentially send you unwanted promotional mail throughout the year.
In addition, you won’t have to deal with unpleasant encounters when someone files a lawsuit against you. Typically, Service of Process documents are served by law enforcement to your address – which could be your office, store, or home. You can avoid this embarrassing situation if you have a registered agent who represents your business. They will receive legal documents on your behalf.
3. Your business stays legally compliant
As a business owner, you naturally want your entity to remain in good standing with the government at all times. For that reason, legal compliance should always be a top priority for you.
Your registered agent can likewise help you with this. They will send you regular updates and notifications about local, state, and federal documents as they arrive.
In turn, you will constantly be on top of things. You’ll never be late in filing your annual reports along with other important legal and tax documents. Moreover, you can avoid the risks and consequences of non-compliance or delayed filings, such as hefty fees and penalties.
4. You won’t miss any time-sensitive documents and requirements – even if you’re on the go
At times, you may have to go on a business trip or a family vacation. Even if you have to temporarily close your establishment, you can still receive important mail with the help of your appointed agent.
Registered agent services usually have their doors open from 9:00 AM to 5:00 PM. This means you can count on having a reliable address to receive correspondences and documents on your behalf during regular business hours. You won’t have to miss out on anything even if you’re away for several or a few weeks. Someone is always available to collect letters addressed to you and inform you right away about them.
5. You can make your document management more efficient
In most cases, registered agent providers also offer virtual mailbox packages. Interested customers may avail of these mail scanning and forwarding services.
Needless to say, you get easy access to the digitized documents when you need them later on. They can likewise serve as backup files if, for whatever reason, you lose copies of important mail and paperwork. Other than that, you can also ask your agent to forward physical letters and documents to your location if you urgently need them.
So to sum up, this service can definitely contribute towards the simplification of your document management process. So it’s definitely worth trying.
6. You can expand your business in other states
Planning to expand operations to another state in the near future? Well, you will need a registered agent, too. These professionals can help you incorporate in any state by representing you there. As long as you hire a business agent who has a street address in that state, you can reach your expansion goals.
Final thoughts
As you build and grow your new business, you can rest assured that your designated agent will provide you with valuable guidance and flexibility. Moreover, you can have peace of mind knowing that legal paperwork and other compliance requirements are accomplished without delay.
You can devote your energy to improving your brand, training your team members, and dealing with your customers. In short, you will be able to focus on growing your new company.
Author’s bio: Mark Rosario is a content specialist who regularly writes for Registate, Delaware-based registered agents and company formation specialists. He has a passion for thorough research and converting business concepts into compelling, informative content.
