The paperwork necessary to incorporate a new business can seem overwhelming, especially if you’re using a traditional approach to completing the forms by hand. Luckily, there are alternative methods that can make the process much simpler, and no one tool can make the entire process easily digestible.

Using technology to streamline business processes, handle paperwork and remain compliant is preferable to carrying papers around and manually entering data. By taking advantage of online resources, you can not only expedite the process of starting a new business but also ensure that everything is correctly entered and available for review at any time.

Since the COVID-19 pandemic began, a growing number of business owners are looking for ways to protect their companies, employees and customers. Those seeking to create a new business in the United States may feel limited by the amount of personal liability protection afforded by banks and other financing sources. Limited liability companies can provide the security business owners need without the burden of high personal debt. A standard LLC can provide up to $100,000 of insurance coverage for up to ten employees, as well as a variety of other benefits that can make this a viable option for those looking to create a new business.

Research The Market The Easy Way

One of the most time-consuming, yet essential, steps in the process of creating a new business is research. You’ll want to gather as much information as possible about the market so you can design a marketing strategy that will be effective and profitable.

Start by identifying the specific market you’ll serve. Consider the demographics, psychographics and digital consumption habits of your ideal buyer and begin incorporating this knowledge into your marketing plan. You can also use online tools to conduct market research, such as Google Trends and Google Analytics, to gain a fuller understanding of how individuals in your target audience behave online.

Choose A Name For Your Business

If you already have an idea for a business name, use it. If not, consider using a hybrid of your first and last name or the first name of your family. The key is to pick a name that is easy to spell and pronounce and doesn’t have any confusing connotations.

If you’re worried that your chosen name might be taken, you can register it with the U.S. Patent and Trademark Office. Doing so will give you the exclusive right to use the name in commerce.

Set Up Your Legal And Financial Departments

You’ll need to set up separate legal and financial departments within your new company. While you don’t have to have separate employees for these departments, you will need to have separate physical locations. This can be anything from a desk to a spare bedroom to a small office. You’ll also need to consider how you’ll manage payroll and other administrative tasks.

Pay close attention to the amount of paperwork you’re required to complete and the deadlines you need to meet. Most counties in the U.S. offer LLCs online, which can make the process much less cumbersome. Doing business during the pandemic has changed the way we all do business. The digital world continues to evolve and change as a result of the pandemic, and you can bet your marketing strategy will need to evolve along with it.