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Why Your Business Should Have a Registered Agent

Many people dream of starting their enterprises and gaining financial freedom. When starting any business structure, be it a corporation or an LLC, it is mandatory to have a registered agent and office. This is the law in many countries and states. Best LLC service is essential for those who would like to form a limited liability company.

It is no surprise that there are people who are not familiar with the team registered agent. So, who is a registered agent? This is someone who receives mail and other documents on behalf of an enterprise.

Many benefits come with hiring a registered agent. Below are some of the reasons why you should hire a registered agent.

Productivity

woman in officeThe first reason why you should hire a registered agent for your business is productivity. It is essential to note that you can be your business registered agent. The business can also be its own registered agent. Many people who make the mistake of not hiring a registered agent tend to be overwhelmed with a lot of paperwork.

Having to read every mail and other document sent to your business address will slow your productivity. It is essential to note that each business has a primary goal and obligation. By hiring a registered agent, your business can focus on its primary obligation, thus increasing productivity, resulting in more profit.

Privacy

Another benefit that comes with hiring a registered agent is privacy. We all know that people love their privacy. Listing yourself as your business registered agent will undermine your privacy in some ways. Your home address will be listed as your enterprise point of contact.

Since the information will be public, anyone can go online and find your home address. If you are a person who values your privacy, you should consider hiring a registered agent. In this time and age, your personal information is a valuable asset, and you should prevent it from being accessed by other people.

Address

It is essential to note that it is mandatory to have a physical address when establishing a business entity. Most people establishing businesses do not have a physical address.

A registered agent’s physical address will be listed as your business’s address. This fact has made it possible for people to start enterprises in multiple states without having a physical office.

Hiring a registered agent will be crucial to the success of your business. If you’re thinking of establishing a business entity, you should consider hiring a registered agent.

a business entity

Advantages of Limited Liability Companies (LLCs)

When most business owners are starting a business, they are not aware of the advantages of the various forms of businesses, but it would help if they considered opening limited liability companies or LLC. And to make it easier to form the companies, the founders can work with theĀ Best LLC service to make their incorporation easier. Besides, the service providers offer other benefits that the business can enjoy.

Here are the advantages LLC offers to businesses:

Members Enjoy Tax Advantages

enjoy tax advantagesUnless an LLC applies for consideration as a corporation, they cannot be double taxed. The LLC law also protects the proprietor from paying some taxes which are required from corporations to pay from their salaries. Moreover, LLC’s do not have a federal law set to govern and thus they use the sole proprietorship laws. This allows them to be cushioned from the double taxing of partners as corporate and as individual imposed on corporations.

Have Flexible Membership

One significant advantage of LLCs is that they enjoy flexibility in membership. They can have more than 100 members, can have corporations and foreigners as shareholders and so on. Besides, all the shareholders of LLCs can enjoy pass-through taxation whether they are corporations or foreigners.

Less Paperwork and Formalities

Corporations require lots of paperwork and documentation of all formal meetings the minutes of all the meetings must n must all be recorded and documented for future reference. They also require numerous meetings, LLC however, does not need too much paperwork as members do not require many meetings. When LLC holds meetings its between partners, unlike corporations where its shareholders and the board of Directors.

An LLC is not required to file an annual report with the state, unlike big corporations. While corporations are required to hold annual shareholders meetings where they are required by law to inform their partners of the performance of the company in the financial year an LLC is not required to do the same and can hold a meeting any time of the year.

Enjoy Flexibility in Management

With corporations, the management structures are so fixed. There must be a board of directors charged with the execution of the policies. Also, there are executive members who are involved in the day-to-day running of the business. Owners or shareholders have to meet annually to elect directors and for other businesses. However, with LLCs, the structures are not fixed and owners can run it and make decisions as they wish.

oil refinery

Top Risks Oil and Gas Companies Face

If you are an investor, you need to know the challenges you would face in a given industry. Only when you know the risks and how to mitigate them that you can become successful. The following are the top risks faced by companies in the oil and gas sector.

Political Risk

oil and gas drillingThe truth is that politics, whether at the local, national, or international level, have a huge impact on the oil and gas industry. Ideally, regulations in this industry are due to politics. As you know, there are many regulations that oil and gas companies must abide by, and these can vary from one territory to another. You should note that political risks increase when the oil and gas forms work on crude oil deposits in foreign countries.

That explains why oil and gas investors like investing in countries that have stable political climates and can provide long-term leases. You may be surprised to learn that some countries go to any country as long as there are oil and gas. Unfortunately, different issues can arise, like changes in regulations.

Geological Risk

Most of the areas with easy to get oil may have been tapped out. Exploration is now done in areas that do not involve a lot of drilling. Such areas are found in oceans. You can think of the geological risk as both the possibility that the estimated amount of reserves may be smaller than anticipated and the difficulty of extraction.

Price Risk

Other than the geological risk, you have to factor the cost of oil and gas in determining whether the reserves are economically viable. Geological barriers make the price of oil to increase. That does not mean that oil and gas companies cease operations on projects with geological barriers. Remember that oil projects cannot be quickly shut down and restarted.

Supply and Demand Risk

oil drillingAs you know, supply and demand are quite important in any given industry. There are shocks on both supply and demand in the oil industry. Remember that operations can take a lot of time and a lot of capital. Moreover, these are not easy to shut down. The uneven nature of production makes the cost of oil and gas to become volatile. Also, there are other factors, such as macroeconomic factors and financial crises that can affect this industry.