Starting a business is hard. There are many reasons for this, but two of the most common are that it takes money to start and run a business and requires knowledge of the business setting-up process.
If you don’t have any money, the challenge is finding someone who will invest in your idea and help you get started. This requires time—time that you could spend working on actually starting the business instead of trying to convince others to invest in it first.
Aside from this, if you’re not familiar with the laws governing the creation of businesses in your state, there’s a very high chance you’ll mess up the process. One wrong move could antagonize the materialization of your business.
This is where doola comes in and brings value to your organization. Whether you’re starting a C-Corporation, limited liability company (LLC), or decentralized autonomous organization (DAO), they have your back. If you check their website, you will get a comprehensive idea of how the company has been helping individuals start their businesses in the US.
What is doola?
A New York-based company, doola is headed by Arjun Mahadevan and JP Pincheira. They created the company intending to unlock human entrepreneurship potential and democratize wealth creation access through empowerment.
They understand the pains of starting a business venture, especially for the founders who have been filling different roles while starting. The doola team believes they can take the burden of setting up a business off its owners and founders. This will make it possible for entrepreneurs to work and achieve bigger goals.
What services do they offer?
You can segregate doola’s core services into the following three main categories:
Helping businesses form and set up an LLC
Business owners need help setting up an LLC because it is a complex legal structure requiring you to adhere to strict state laws. The process can be daunting, and you may not know what you’re doing. You want to ensure your business is set up correctly from the start so you won’t have to worry about anything down the road.
doola can take this burden off your shoulders by assisting in choosing a name for your business, filing your Articles of Organization with the state, and securing Employer Identification Number EIN from the Internal Revenue Service (IRS). They can also help you formulate an operating agreement to determine how your LLC will run.
Setting up a C-Corporation
It can be challenging to set up a C-Corporation because, unlike other business structures, the IRS taxes C-Corporations as individuals. This means you must file and pay taxes just like a person, which can be confusing and time-consuming. Also, there’s more paperwork involved in setting up a C-Corporation than in other business structures.
doola can help you accomplish the following steps:
Step 1: Decide whether you want to form your company as a corporation, limited liability company (LLC), or partnership.
Step 2: Determine your business structure’s legal identity. You can do this by choosing a name for your corporation or filing an assumed business name statement with the county clerk’s office where you’ll do business.
Step 3: Find an attorney who can help you create the articles of incorporation and bylaws for your corporation. They will then file these with the state agency responsible for registering corporations in your state of residence.
Step 4: File your federal tax return and pay any taxes due with the IRS.
Sealing a DAO’s legal entity
Setting up a DAO is a multi-step process. For starters, you need to choose the type of entity you want to create. Do you want to set up an LLC or a corporation?
Once you have decided on the entity type, you must file paperwork with the state and federal governments. There are also specific regulations you must meet before officially forming your company. You will need to hire employees and establish a board of directors if you do not already have one.
Next, you should decide who will be responsible for which tasks within your organization. For example, who will file taxes and keep track of employee time? Who will make sure that you have obtained all necessary licenses? You should also create compensation and benefits policies and procedures for hiring new employees or terminating existing ones.
doola can take care of all these tasks for you. Since you won’t do much leg work, you’ll have more time for things that truly matter – running your business.
Apart from all these, doola can also assist you in creating companies from the command line. They also help file taxes, create an Amazon Seller Account, and migrate your business to their platform.
Launch Your Business With doola
Yes, setting up a business can be daunting if you lack resources. However, it doesn’t mean that it’s impossible.
With the help of doola, you can rest easy knowing that an expert in this field is taking care of the documentation and other essential steps and processes in setting up your business. With time on your hands, you can focus on running and growing your new venture.
