The rise of globalization and free trade markets have seen the American startup culture undergo a significant change in the past decades. According to the Center of American Entrepreneurship, American startups have been declining since the induction of bigger and more developing economies in Asia, Africa, South America and Russia. The decline of venture capital investments in American startups and businesses have declined more than two-thirds since the 1990s, but despite the decline, San Francisco has remained the number one destination for venture capital startups. 

While many economists have shared their scepticism regarding the longevity of the American startup culture, there might still be some light at the end of the tunnel – as older and younger generations are looking to leave behind the workforce and step up to the plate to start their own business. While starting a business can be a lucrative option – what’s the process these entrepreneurs undergo to start their new business, and how are companies such as IncFile and Legalzoom supporting these new startups? 

Starting a new business: What are my options? 

Depending on the type of business you’re looking to start, there is a wide range of aspects you will need to consider before you can open your doors to the public. Of course, having a business plan, financial backing and a well-detailed marketing plan are all part of it – you will need to think of the formation and filing process as well. Today, there are a plethora of formation service companies that can assist with this process, offering affordable and transparent assistance with a wide range of tasks including hiring a registered agent.

Major formation service providers: 

IncFile

As one of the alternatives to Legalzoom, IncFile has become a well-known name when it comes to business formation and filing. The independent company has helped thousands of young entrepreneurs form Limited Liability Companies (LLC), offering affordable services for a range of valuable features. 

IncFile has a reputable reputation for its great customer service, ranking in more than 26,000 reviews online. There is a wide range of services rendered by IncFile, from LLC formation, business tax consultations, and registered agents services. It’s become a tug and pull to choose a service provider that can provide you with the best possible service. 

Legalzoom 

The company has helped entrepreneurs and new startups since late 1999, but due to increased demand had to adapt its offerings to cater for a more modern and digital market. Although still affordable, some alternatives can help entrepreneurs save a few extra dollars per month. 

Of course, Legalzoom does all the necessary filing, articles of organization, and banking resolution. A major plus from using them includes lifetime customer support – which can come in handy for any entrepreneur looking to resolve administrative issues. Yet, their price point may be a bit higher than other popular choices, it’s a reputable company that has seen thousands of entrepreneurs set up a successful startup without any issues. 

Why use IncFile or Legalzoom? 

Whether you’re an independently owned business, or perhaps looking to set up a capital venture with a partner, using a formation service provider such as IncFile or Legalzoom will ensure procedures and administration regarding the formation and filing will be seamlessly completed. There is a financial aspect to it as well, as these services aren’t free, but because they cater to young entrepreneurs and new business owners, you will be able to save both time and money when making use of them. 

Some benefits can include: 

• Full comprehensive business formation support. 

• Filing articles of organization. 

• Ongoing customer support. 

• Tax consultation.

• Banking resolution and more. 

These and other benefits have made these service providers a very popular choice for many entrepreneurs and new startup owners. 

The takeaway

Although many may seem sceptical about the future of American startups, those who are willing to take the risk are now finding it easier to make use of formation service providers to control filing administration issues. These service providers can offer affordable assistance, while at the same time putting the entrepreneur’s business ventures as their number one priority. There are various service providers to choose from, your budget and needs will be your best guide.