Innovation & Technology transformed the way of Doing Business/ by Victor M. Hernandez P.
In a such accelerated and changing business world, differentiation becomes essential to stay on business. Statistics are dark when it comes to the lifespan of a new business. Only a few of the companies incorporated today will be active and in offering service within the next five years. These numbers are very similar all over the world.
Today there is not a place to be considered far away with the use of top of line telecommunications technology. These technologies allow business executives, CEO and owners to close agreements and bring revenue to their companies from countries and places 25 years ago they wouldn’t even imagine. The invention of the telephone, mobile phone, the personal computer, and the internet are just of few of those 20th-century technologies and communications marvels.
All of these great inventions have shrink distances and erase borders when referring to doing business and commerce. The Internet has allowed us to share information, promote/sell products & services, send/receive money, as well as, have videoconferences, webinars and presentations with great quality and speed.
The fast development of the internet architecture, capacity, speed, services and applications have impact dramatically the way enterpreneurs and companies do business.
Doing Business Everywhere
Tech companies changed the way people sees business organizations. Before those multimillionaire garages founded organizations, when referring to a Company, it meant an entity with infrastructure, usually more than one office or property in Mid-Size organizations and a whole human resources staff. This was pretty much the image people held in their head up to the late ’90s.
Amazon, Google, Microsoft, and Apple are just some of the big players changed the paradigm forever. Each of these companies started with almost no budget, at a garage, room or place where the entrepreneurs can meet and work without being interrupted.
If you do a google search for Amazon’s Garage or Microsoft first office and go to the images tab you will have the opportunity to take a look at actual pictures of the places where everything began for this TOP of the line entities.
This was possible mostly because of the internet. These were companies that at their beginnings only needed a place where to code in peace and to be connected to the internet as it was their main channel to conduct business.
Today’s trends point towards more independent professionals and companies located anywhere working remotely in collaboration with their work colleagues and team members to achieve their client’s objectives and goals.
Where to form your company?
Deciding where to set up your company will depend on different factors such as: Which is the main activity of your company? Is it an online business only? Would sell in the United States? Where are you currently based? Taxes? Legislation? These are a few of the things you should ask yourself before choosing the country to form your business.
There are still several countries that have great benefits for business owners to chose them as their Company Home. According to Offshore Company Below are the most beneficial places to start your offshore company:
- Cayman Islands
For more information, please check their post at https://www.offshorecompany.com/banking/best/
Options in the United States
As you might notice, the United States is not listed as one of the top places to form your organization. The truth is that the United States has more requirements and legislation than many other nations. For a business to comply with the U.S.A. policy most of the time represent additional costs which will vary depending on the industry you decide to do business. ( For example: Insurance, Agriculture, Finance, etc)
Nowadays, regardless of your location, you can form a company in the United States without being U.S. Citizen and/or Residence. The State of Delaware is very popular for startups due to its business legislation and benefits. To incorporate a company in this state as a foreigner it’s easier than getting a real person on the phone when calling your preferred TV entertainment provider (Cable, Fiber, Etc) customer service. One of it’s attractive is that if you have an LLC in Delaware but you don’t do business on the state your company only pays $300.00 every year of taxes due in June 1st. Technology companies love Delaware.
If you are planning to start an online company to offer products and/or services worldwide Delaware it’s your place. Non-US Citizens/Residents are required to have an Agent in Delaware with a mailing address.
For more information on How to set up a Company in Delaware and getting a registered agent please visit DELAWARE CORPORATE HEADQUARTERS website by clicking here. Normally I don’t suggest providers on my posts, however, I have had such a nice experience with them that I feel comfortable endorsing it.
Do you really need a company?
There are still improvements to be done in the Digital Business World in terms of legislation, security, and rules. It is TRUE that there is still work to do but every day we go a step further and things are working well in the Online Business industry.
That being said, as a business professional, I highly suggest forming an LLC for doing business online. Why? There are many benefits such as Gives your Business Formality, protects your personal gods, helps with accounting and organization just to mention a few of the benefits.
If you recently started a blog, which you are planning to make it profitable at least I suggest that you register your NAME and/or BRAND to avoid misunderstanding when you start receiving revenue.
Our next post of the series
Innovations & Technology transformed the way of Doing Business is the second series launched. Please keep posted as we will post after our second post of the series: “Social Media: A powerful tool for business
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