We’re getting to the point in our calendar year when new entrepreneurs are wondering if they should go ahead and make the jump to officially starting their business right now during the holiday season, or if they should just wait until the New Year. What with all the parties to attend and celebratory meals to prepare, it seems waiting until all the holiday mayhem has passed may be the answer. But on the flip side for soon to be start-up owners, the festivities may be the best kind of fuel to skipping out on the wait and moving ahead now with their business.
We’ll let you decide. But rather than write up a pro/con list for starting now versus waiting until later, we have a list of perks that coming with forming a business in 2013 and 2014.
Filing in 2013
- Tie up loose ends. If you do indeed decide to file now, you’ll have the opportunity to tie up any loose ends prior to the New Year. You’ll get to start your new business officially along with the New Year. There’s a hefty amount of paperwork to do before things become authorized, so get all that out of the way in December as much as you can so that you have January and the rest of the year to focus solely on growing your business.
- Protect your personal assets and gain liability sooner. The benefit of legalizing your business with the state by incorporating or forming an LLC now instead of later on is that your personal assets, as well as your business, will be protected sooner. If you’re in any danger at all of losing your house, car, or other personal assets to business debt, look into incorporating now!
- No time like the present! A lot of entrepreneurs are in the mindset of “No time like the present!” If you’ve been waiting your whole life to break out of the corporate bubble to run your dream business, it can be hard to wait even just another month which makes moving forward now the best time to start.
Filing in 2014
- Fresh start. The beginning of the calendar year is the perfect time for a fresh start for both your professional and personal life. New Year, new business!
- More organized. The couple months leading up to January can be some of the most hectic months of the year. Not only do you have so many obligations to tend to, like family gatherings and recitals for the kids, it’s a tough time of year to keep paperwork in order. Come January, you’ll be a whole new, organized person.
- Filing may take longer at the end of the year. The state can get pretty backed up towards the end of the year, so waiting until they get a better grip on things may be the smartest thing to do if you’d like your paperwork processed quickly. Quite frankly, if you do decide to file your business right now, at the state’s rate, it may not be ready to go by the New Year anyway so waiting may be your best bet when it comes to ensuring your company is not only ready to go but can open its doors and invite the public in to makes sales and do business.
Deborah Sweeney is the CEO of MyCorporation.com. MyCorporation is a leader in online legal filing services for entrepreneurs and businesses, providing start-up bundles that include corporation and LLC formation, registered agent, DBA, and trademark & copyright filing services. MyCorporation does all the work, making the business formation and maintenance quick and painless, so business owners can focus on what they do best. Follow her on Google+ and on Twitter @deborahsweeney and @mycorporation.