Owning and running a business is enough of a challenge; one of the biggest challenges you'll face is setting up a business entity.
Entrepreneurs can face mountains of paperwork involved in forming an LLC, corporation, or Limited Partnership, which can feel overwhelming. Particularly as each state has its own unique requirements.
Many service providers can help you navigate this process and ensure the all-important requirements are met. Two of these are Harvard Business Services and BizFilings. We will compare them side by side today to help you choose your business formation services.
BizFilings Vs. Harvard Business Services - The Verdict
Both can offer you attractive service packages that will assist you in the business formation process. Bizfilings and Harvard Business services have impeccable reputations in compliance, customer support, and turnaround time, in addition to unique additional features. With that said, there are also some apparent differences too.
Choose BizFilings if:
- You want a less expensive package.
- You want to set up a nonprofit, standard corporation, DBA, or LLC anywhere in the USA.
Choose Harvard Business Services if:
- You have an international (Non-US Based) business seeking registration in the state of Delaware.
- You want to set up a Delaware business.
- You want a free registered agent for the first full year (and a low fixed fee after that).
Services Offered & Pricing
Key Similarities
- Expedited/fast filing offered.
- Multiple options at different prices.
Key Differences
- BizFilings offers cheaper packages.
BizFilings Packages & Pricing
Basic Package - $99 + state fees
The basic package is the most affordable package BizFilings offers. With the basic package, Bizfilings will set up your business to meet the minimum required state guidelines.
Each basic package (except for the basic nonprofit package) will total the most affordable amount based on that state that you live in. The basic nonprofit package is the cheapest package on offer.
Standard Package - $229 + state fees
The standard package will provide all of the tools needed to get your business to match the state guidelines.
With the standard package, depending on the corporation you choose to set up, you can get a complete package for an affordable price. Again, nonprofit organization packages tend to be the cheapest option.
Complete Package - $359-$389 + state fees
The complete package allows your business to meet both state and federal guidelines along with the added-on tools.
A complete package is an excellent option if you want to expand your business beyond your home state. While the requirements and fees for a business vary from state to state, using the complete package can help ensure that your business can function all across the country.
If you're filing an S Corp, the Complete Package is $30 more expensive. All other business entities are priced at $359.
Harvard Business Services Packages & Pricing
Green Package - $179
The Green Package, at $179, is the most economical. It includes:
- Name availability check.
- All state filing fees
- Preparation of all required documents.
- Free digital corporate seal
- A free registered agent for the first year and a low guaranteed price of only $50 per year for the lifetime of your company
This package is suitable for all business entities and includes everything you need to file for a new business in Delaware.
Basic Package - $329
The Basic Package, at $329, is currently discounted to $229. It includes all the benefits of the Green Package plus:
- Digital document templates for LLC or Corporation documents
- Priority Mailing for all formation documents
This package is significantly more expensive than the Green Package without offering that many more benefits. It is helpful if you need a hard copy of your documents and a sample of document templates to adjust to your needs.
Standard Domestic Package - $429
The Standard Domestic Package, at $429, is currently discounted to $329. It includes all of the features of the Basic Package plus:
- Digital Member Certificates
- A Meeting Minute Book
- A Delaware Company Guidebook
- Additional Forms
- A Gold Embossed Company Binder
This package is the most expensive of the three options offered, but with just the added benefit of a binder and additional form samples. The Green or Basic package will usually suit your needs.
Harvard Business Services offers additional services for a fee, including International packages for companies outside of the USA filing with Delaware.
Harvard Business Services offers additional services for a fee.
Document Management & Online Experience
Key Similarities
- You can manage all of your documents online.
- Both offer good customer support, and you can quickly request certified copies of your documents.
- Manage all of your essential documents online.
Key Differences
- BizFilings website is easier to use, with a more user-friendly interface.
Processing Time
Key Similarities
- Both service providers can offer business owners the fastest processing times. Same business day processing is offered for an extra fee.
Key Differences
- While both offer expedited services for business owners using BizFilings, this may be slightly slower than Harvard Business Services', depending on the state that you're filing from.
Compliance & Track Record
Key Similarities
- Both of the service providers have excellent reputations, with scores of positive customer reviews on offer.
Key Differences
- While both companies have great reputations and excellent customer feedback, Harvard Business Services wins in terms of reputation, as the company has been around for 15 years longer than BizFilings.
Customer Service
Key Similarities
- In addition to their filing services, both offer excellent, fast customer support with the help of a great team that will assist you with all of your needs.
Key Differences
- Harvard Business Services offers Skype and WhatsApp support and provides bilingual (Spanish/English) customer support.
Structure Breakdown
Let's take a look at which company is best for your chosen business structure.
Both BizFilings and Harvard Business Services offer LLC formation services.
A limited liability company is the most popular way to set up a company.
The LLC formation packages offered through BizFilings include a business name verification, help with filing and preparing the necessary paperwork, and endless support from customer service reps. Harvard Business Services provides this, plus the addition of a (free for the first year) registered agent service.
Delaware allows LLCs to define their terms in an LLC operating agreement. The operating agreement is usually a written document where the owners address the LLC's interests, management responsibilities, financial distributions, ownership percentages, and the procedure if the company dissolves.
If you're looking to set up a corporation, you'll need to decide between an S-Corp or a C-Corp. They two are similar but with a few distinct differences. An S-Corp shares its income with shareholders and is a little more complicated to set up. A C-Corp is owned by its shareholders.
Both BizFilings and Harvard Business Services offer great incorporation services; however, Harvard Business Services is restricted to the state of Delaware and more expensive than BizFilings.
Both Harvard Business Services BizFilings will help you with a DBA (doing business as) filing and any paperwork and technical aspects that come with the process. Filing for a DBA is often for companies with more than one partner and is used to assume a name for a company that is different from someone's legal name.
Nonprofits are corporations that the IRS has granted a tax exemption, referred to as 501(c). To qualify for this status, your corporation must fall under a specific category such as a charitable, educational, religious, scientific, or literary organization or institution.
Harvard Business Services and BizFilings can help you form a Delaware non-stock corporation and then apply for a 501(c) status with the IRS.
The Last Word
Both BizFilings and Harvard Business Services offer an array of packages at several different price points. If you're looking to register a business in the state of Delaware and are happy to pay a little more for quality services, you'll want to consider Harvard Business Services; however, if a competitive price is important to you, then BizFilings could be your ideal service provider.
Filed under: Head-to-Head
