Published on : Feb 27, 2018
Quite often starting a small business may be fraught with problems with myriad types, most common of them being bureaucratic paperwork and affordability at large. More significantly in regulated markets, small business owners and budding entrepreneurs find maintaining regulatory compliance hassle-ridden.
In the U.S., state-specific taxation laws, certificate of incorporations, report filing, and publication requirements are some of the ones topping the list of mandates a company might need to adhere to avoid fines, and possibly expropriation. ZenBusiness, an Austin-based company supporting entrepreneurs, with the troika of goals—fast, free, and frictionless—takes the problem head on. Focused on democratizing entrepreneurship, the company makes it free for anyone to start a business in Limited Liability Company (LLC) and Corporation and eases all the regulatory hurdles, rendering it affordable to manage the entity throughout the year. To this end, the company officially announced on February 26, 2018 that it has secured US$4.5 million in venture capital funding. Spearheaded by the founding CTO of HomeAway, Inc., a vacation rental marketplace, ZenBusiness hopes to lower the barrier of entry in the U.S.
Innovative Platform and Services to enable Starting Small Businesses Easy and Affordable
ZenBusiness, with its disruptive platform and services offers fair pricing to ensure that zealous entrepreneurs and small business owners can have all the resources at their disposal to help materialize their dream to reality. In particular, the company will provide a sort of a $10 per month ‘worry free guarantee’ to businesses, who will make it their registered agent. The platform will let them know of the exhaustive list of paperwork to be filed or submitted. Plus, the hefty fines businesses need to pay if ever they miss a deadline will be taken care of.
Easing Barrier Entry to Lead to Robust Job Creation
With the goal of 1 million small businesses by the end of 2023, the Austin-based company is likely to have profound impact on the U.S. economy by driving robust job creation across the state. The company is not new in the initiative. LegalZoom has been active for more than one and half decade, while Stripe has been a recent entrant in this space. However, ZenBusiness strives to be different from both with its disruptive offering. Of note, the company is mulling the potential role of blockchain in corporate records filings in the not-so-distant future.