Navigating the business formation process can be a legal jargon-filled minefield.
There are a variety of service providers, each promising to simplify and streamline this process. New business formation services launch all of the time, and it can be hard to keep up with all that's on offer. Today, we'll compare BizFilings and Swyft Filings to help you decide which is best for your business needs.
BizFilings vs. Swyft Filings: The Verdict
Though BizFilings has been around longer, both offer comprehensive services. There is significant overlap though there is also a lot of essential differences between these two companies. Swyft makes up for their lack of experience by offering near unbeatable prices.
Services Offered & Pricing
- Both offer modern, remote online services.
- Both are competitively priced and could be seen as representing the budget option in filing services.
- Both have good customer feedback.
- Swyft Filings has been known to outsource some of its services, whereas BizFilings is more full-service-oriented.
- Swyft offers a free tax consultation.
- Swyft Filings Basic Package is half of the price of BizFilings' similar package.
BizFilings Packages & Pricing
BizFilings provides up to three packages based on the type of corporation you choose, as well as the state your company resides in. All of the available packages will include 24/7 business monitoring, name verifications for businesses, and help with preparing and filing paperwork. Each package comes with a variety of tools. The tools that you can access depend on the package that you choose. No matter what package you prefer, you can continually expand on the tools to fit your business.
Basic Package - $99 + state fees
The basic package is the most affordable package through BizFilings. With the basic package, your business will be set up to match the required nonprofit guidelines.
Each basic package (except the basic nonprofit package) will total to the needed amount based on that state that you live in. The basic nonprofit package is the cheapest option.
Standard Package - $229 + state fees
The standard package will provide all of the tools needed to get your business to match the state guidelines, as well as keep your business up-to-date on the guidelines.
With the standard package, depending on the corporation you choose, 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 is the package with the highest value in terms of price.
While both packages have many tools to add on for an extra price, the complete package already comes with most of the tools. The whole 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 at the $359 price point.
Swyft Filings Packages & Pricing
Basic Package - $49 + state fees
The Basic package, which costs $49 plus state fees, includes several services that are the most vital to incorporate. You'll be able to start a business but still have to perform several functions yourself that Swyft Filings could perform.
The cornerstone of the basic plan is preparing the paperwork that one must file to incorporate a company: the Articles of Incorporation and Statement of the Incorporator. Swyft Filings submits these documents to the Secretary of State of the jurisdiction you wish to form your company and will send you the incorporation documents when they've completed them. You also gain access to an online account that holds those documents.
Finally, the Basic package guarantees access to customer support both during the incorporation process and afterward.
Standard Package - $149 + state fees
Swyft Filings' Standard package, priced at $149 plus state fees, includes all the services in the Basic package plus the preparation of a few other essential documents. Strictly which additional documents the Standard package includes depends on the type of business you're registering.
Swyft Filings goes through obtaining a Federal Tax ID (EIN) for all four types of businesses they service.
If you're planning on starting an LLC, getting the Standard package will mean that Swyft Filing takes care of the Operating Agreement, Banking Resolution, and Organizational Minutes. For S corporations, C corporations, and nonprofits, Swyft Filings provides analogous documentation. For instance, the standard package for C corporations includes Corporate Bylaws, which are like the LLC's operating agreement, Banking Resolution and Minutes.
The bundle of these extra features would cost $160 if added to the Basic package, considerably more than the additional $100 upgrade from Basic to Standard costs.
Premium Package - $299 + state fees
Swyft Filings' highest-priced package, Premium, costs $299 plus state fees. It adds three additional services to those included in the Standard offer, plus they expedite the filing time for free.
The first and most important is the 'Customized Digital Kit,' which includes a few customizable compliance tools equally relevant to all types of corporations. Swyft Filings will create a Company Seal, 20 Customized Stock Certificates, and an Ownership Ledger.
The Premium package also allows customers to create a website and host it for free, and it enables the electronic delivery of documents that Swyft Filings receives from State governments.
Document Management & Online Experience
In the digital age, it's vital that the filing service you choose can provide you with an excellent online experience. Let's compare both.
- Both do rate well for ease of use.
- Both offer online incorporation services.
- You can easily access your incorporation documents and others (like the Operating agreement, Federal Tax ID, etc.) in the online dashboard.
- Compared to BizFilings, Swyft Filings' website is more comprehensive.
Processing time is a crucial area to consider when you're choosing your formation package; thankfully, both Swyft and BizFilings offer speedy services with meticulous attention to detail.
- Both can offer you a rush service that can expedite your processes in as little as two business days, depending on your state.
- In some states, such as New York, Swyft does not offer a rush filing service.
Compliance & Track Record
As BizFilings has been around for much longer than Swyft, they do win out in this category. However, there has been no particular negativity attributed to Swyft, either. Scouring customer reviews revealed no particular concerns meaning they're both in overall good standing.
- Both have decent reputations in terms of compliance.
- BizFilings has been around for much longer than Swyft, so their reputation wins here.
Swyft promises lifetime customer support to all customers, as well as a money-back guarantee. BizFilings also provides a high level of customer support for business owners.
- Quality customer services.
- FAQ's/Learning center is available, in addition to a general helpline and email support.
- Swyft filings offer a money-back guarantee (less the cost of state filing fees).
- Swyft filings offer a free e-book ''The Ultimate Guide To Starting Your Business''.
Both offer excellent filing services for entrepreneurs, small businesses, and large corporations alike. Let's take a look at each business type and see which is best for each category.
A Limited Liability Company, or LLC, helps you avoid double taxation. That means the IRS won't tax your business and your finances. Instead, you pay both taxes through your tax return. With an LLC, your assets are also protected.
Both BizFilings and Swyft filings offer an array of information, advice, and assistance in this area and can provide you with a competitive LLC formation package.
Both Swyft Filings and BizFilings can assist you in setting up an S or C corporation.
C corporations are among the most common kinds of business corporations. They provide many advantages, such as limited liability for owners and the ability to easily and quickly transfer ownership. You can also maintain an unlimited amount of investors or shareholders.
To be an S corporation, the corporation must elect a special tax status. Choosing an S corporation is very similar to choosing a C corporation.
BizFilings can help you establish a business for you and your partners.
BizFilings will help you with a DBA (doing business as) filing and any paperwork and technical aspects that come with the process. Comparatively, Swyft doesn't offer services to those who are establishing a partnership.
Nonprofits can also apply for tax-exempt status. This allows them to pay the same rate as corporations if the government does not exempt them. The owners and administrators of nonprofits are protected from personal liability.
The Last Word
While BizFilings has been around for longer and has built up a better reputation, Swyft puts to rest any concerns with their money-back guarantee. Swyft is a great up-and-coming business offering a smooth business website, cost-effective packages, and great reviews on Trustpilot.
Both offer easy access to your business formation documents, rush services for an additional fee, the ability to check for name availability (to ensure your chosen business name is available), a great turnaround time, and quality LLC formation services. But Swyft can offer extras like a free domain name. Overall, both are quality companies with significant benefits to offer business owners.