ZenBusiness is a new online platform that helps new businesses tackle the form and annual regulation process plaguing entrepreneurs every day.  After receiving a $4.5 million seed round investment, the company will use the money to help with product development and to meet their “worry free guarantee” where, if they miss a form or annual report, the company will pay your fines.

The platform will cost $10 a month and look to position itself as the only full service company that “is an active manager of the entity as opposed to a one-off form filer like LegalZoom”

According to TechCrunch, “ZenBusiness’s goal is to be fast, free, and frictionless. Following a short set of questions to understand the business a user wants to start, the platform offers free filing of incorporation documents, and is fully automated so that filing is as fast as the government can process paperwork. Business owners then pay a $10 a month fee to protect their privacy by allowing ZenBusiness to become the registered agent and shield the owner’s personal information from corporate databases.”

This is a good idea for those businesses looking to gain access to heavily regulated industries with mountains of paperwork to fill.  Although the Trump administration is decreasing regulation for businesses, the truth is that there is still a lot of forms and reports a company must complete if they are to meet and maintain their company status.  This provides an opportunity for a company like ZenBusiness to act as the legal secretary in order to complete this information and ensure that the company is up to code on all its files.

A great concept for small businesses and one that may hit 1 million in 5 years.

 

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