If I do not choose Nevada , will you help me start my business in my home state?
November 30th, 2007 · Filed Under: Uncategorized
Yes. (If we only formed corporations and LLCs in
unable to open file
![]() |
The Entrepreneur's Blog for
Corporate Planning & Coaching |
Scott Letourneau, CEO |
Yes. (If we only formed corporations and LLCs in
NCP’s years of valuable experience and extensive research work to your benefit. First and foremost, we didn’t get our facts by “Googling” the Internet to find out what our competition says. (You may have noticed that many websites seem to be saying the exact same things.) Instead, we went straight to the horse’s mouth, hiring top CPA firms to give us the most updated, verified, information possible. We don’t take the chance of sending you out on a limb, either. Our own advisors strive to provide us with the proper balance of conservative viewpoint and maximized advantage.
More importantly, we know that in order to earn your business, we MUST prove ourselves from the start. That starts with telling you the truth about what
Over the years thousands have come to us to form their Nevada LLC or corporation for their new business. We’ve realized that it’s important to provide more business solutions, especially the most common ones. Even if you were to find those services on your own valuable time, with all the options available the odds are you might not end up with the best overall value. We have taken our time to research, interview and negotiate with the best business partners that are HIGHLY MOTIVATED to provide you top quality service. The bottom line? We have a vested interest in your success — not just so we can help you form your initial corporation or LLC, but so that we can remain your trusted partner for years to come.
Q: I am not just looking to form a Nevada LLC or corporation, I am starting a business. How is your company different? TOP
In many ways! First, we will guide you through the challenging process of determining which entity makes the most sense for your business and your goals, not only in year one, but for the next several years. (Your professionals are welcome to be involved in that process.)
Second, we will help you obtain critical business services to get your business up and running quickly, leaving you free to do what you do best — bring in new clients and revenue! Remember, the #1 reason for business failure is lack of cash flow. We want to make sure you’re not mired in the laborious details of setting up your business, so you’ll have ample time, focus and energy to get that cash flowing quickly. It may mean the difference between success and failure in the first six months!
Is Your Goal to Separate Your Business and Personal Assets?
(Why You May Still be Exposed)
Most clients who call NCP recognize the dangers of operating as a sole proprietorship in today’s litigious society, and have wisely decided to form a separate legal entity for their business. They know that even with insurance, if they’re caught in a lawsuit they may be financially paralyzed and unable to obtain access to their own money.
You know the odds are against any first time business owner. Over 95% of all new businesses fail in their first five years. The number one reason? Lack of cash flow. (There are many factors that affect this lack of cash flow)
Despite best intentions, these two circumstances can still lead to a big problem: What happens when you form a corporation or LLC for your business to help insulate your personal assets, but your business fails? (Remember, the reality is that any new business only has a 5% shot at success.) What about all those personal guarantees, business credit cards, bank loans… all in the business’ name, but guaranteed by you? The end result: You may end up losing all of your personal assets even though you have incorporated or formed an LLC, and even if your corporate or LLC veil was NOT pierced. You can still lose everything!
How is this possible? Keep in mind that when you operate your business, you will be working with vendors and businesses who provide trade credit for your company. That basically means they will provide their goods and services on consignment. Most start-up businesses do not have a strong enough business credit score to allow the business to stand on its own. In fact, most businesses may not have a strong enough business credit score even after 3-5 years. By then it may be too late!
We call this the “Circle of Liability™ (Financially)”! These days, it’s just not enough to only set up your corporation or LLC. You must also determine how you’ll separate your personal and business credit.
Here is what may go wrong if you do not separate your business and personal credit:
One key to success is to have a plan to develop the business credit of your company separate from your personal credit. Within three to six months, your company can be in a position to stand on its own with our Business Credit Builder Program. Your business will receive tremendous benefits, and you will have control of your financial picture.
Below is a review of two major concerns to any business owners:
NCP’s goal is to help you with two essential strategies:
It really makes no sense at all to separate your business and personal liability and NOT separate your business and personal credit. Without taking both steps, even in the absence of a lawsuit, if you have financial problems, you could lose your personal assets.
Example 1: Why Incorporating is Not Enough
The “Circle of Liability™ (Legally)”
Operating Your Business as a Sole Proprietorship=
-instead of “do you have any judgments –now “are you currently involved in any lawsuits!”
Example 2: Why Incorporating is Not Enough!
The “Circle of Liability™ (Financially)”
Operating Your Business as a Sole Proprietorship=
Solution
Step 1: Incorporate. Benefit: You operate your business as a separate legal entity, thereby protecting your personal assets from your business liabilities (this assumes you operate your entity properly; additional recommendation-Incorporate in
Step 2: Separate your BUSINESS and PERSONAL CREDIT: Why this is a problem: 95% of businesses fail due to lack of capital (cash flow). The end result is they go out of business. If the business owner personally guaranteed many of their vendor contracts, the individual is PERSONALLY FINANANCIALLY LIABLE! Result: You potentially will lose most of your personal assets (the very problem you were trying to avoid by incorporating!)
Benefit: By separating your business and personal credit you reap these rewards:
· Improve your cash flow by obtaining terms with vendors (even with a brand new business)
· Increase trade credit lines faster, thereby conserving your cash.
· Avoid many personal guarantees.
· Protect your personal credit score.
· Develop a separate credit profile for your business so it will stand on its own!
The Complete Solution is to do BOTH: Incorporate and separate your business and personal credit!
Call NCP today at (888-627-7007) and ask how your business can develop business credit immediately!
See The Difference With NCP
You don’t want your entity formation company to take a “cookie-cutter” approach to your entity selection, or to “sweep you down the corporate assembly line” so they can move on to the next customer. Unlike many of our competitors, our NV Corp refuses to offer anything but the most conscientiously focused and individualized service available. You’ll understand every aspect and implication of your entity formation, every step of the way, so you can move forward with confidence.
But we don’t stop there. You know that you can’t just “switch to autopilot” once your entity is formed, and so do we. That’s why we offer a full array of business support services to keep you abreast of the latest business strategies, developments and resources. Our goal is to develop a relationship with you and make your business as profitable and rewarding as it can be. We most definitely have a vested interest in you. Your success is ours as well!
You’ll have all the powerful business tools you need at your fingertips, backed by quick, accurate and reliable service, so you can get back to what you do best — growing your company!
Our NV Corp
Nevada Corporate Planners is a leader in providing corporate entity and business formation services. Since 1997, we’ve specialized in helping you select and form the optimal, most appropriate corporate entity for your unique business situation. We pride ourselves on our ability to give you the maximum competitive advantage possible in today’s tough business climate.
While we are specialists in forming Nevada entities, we know that you often need the flexibility of forming corporate entities in other (or in multiple) states, and the power that this strategy may afford to your business planning. That’s why we’re also expertly prepared to assist you with your entity formation needs in all 50 states.
You’ll be glad you chose to be one of the more than 4,200 clients that NCP serves nationwide.