81–90 of 125 posts
We incorporated using Stripe Atlas during the beta. If anyone has any questions, feel free to ask. Would be happy to provide another perspective on incorporation.
Do you need to set up a business at your home country too?
We incorporated using Stripe Atlas during the beta. If anyone has any questions, feel free to ask. Would be happy to provide another perspective on incorporation.
1. Do you sell a product or a service? 2. What part of the world are you in (Europe/Asia/Oceania/South America/etc)? 3. Were you already a functioning business with revenue already flowing in?
2. From the US! Grateful to have been able to be a part of the beta, even in the US.
3. Nope. You don't need to be generating revenue to work with Stripe Atlas. Companies decide, on their own, when they need to incorporate.
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No offense but outside of our little HN/YC bubble I think it's the other way around. LLCs seem far more common than Delaware based C Corps for tech companies. For tech startups looking to raise venture capital (a subset of tech companies) a Delaware C Corp is far more common though.
I have a California LLC (sole prop) which is a disregarded entity for tax purposes. LLC is perfect if: a) you don't plan on raising investor capital b) are a single founder, who just wants liability and corporate benefits and protections c) want to easily pass money from the business to personal Do be aware there is a flat $800 a year California LLC fee even if you don't make a cent (which is unfair and anti-small bu…
Silicon Valley bank is frankly awful. I used them for three years but just recently switched over to Capital One Spark Business Checking[1] and love it. Spark is all online, has zero fees unlike SVB (I used to pay $15/mo), and has solid technology again unlike SVB. The account gets setup instantly and your debit card and checks arrive about a week after opening. The Spark iOS mobile app is really solid and allows for…
Earlier quoted context omitted.
1. Do you sell a product or a service? 2. What part of the world are you in (Europe/Asia/Oceania/South America/etc)? 3. Were you already a functioning business with revenue already flowing in?
1. Yes, we sell a back-house automation subscription service for restaurants. 2. From the US! Grateful to have been able to be a part of the beta, even in the US. 3. Nope. You don't need to be generating revenue to work with Stripe Atlas. Companies decide, on their own, when they need to incorporate.
I wonder whether they'd accept a startup trying to manufacture and sell a physical (botanical) product from the other side of the world.
Silicon Valley bank is frankly awful. I used them for three years but just recently switched over to Capital One Spark Business Checking[1] and love it. Spark is all online, has zero fees unlike SVB (I used to pay $15/mo), and has solid technology again unlike SVB. The account gets setup instantly and your debit card and checks arrive about a week after opening. The Spark iOS mobile app is really solid and allows for…
I used Silicon Valley Bank for a year or two. I thought I'd be running a startup, but ended up with a small business. SVB was not a great small business bank, but I can see how they'd be an awesome partner if I was running a funded startup.
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SVB's biggest value is in more complicated financial products for startups when traditional banks may not want to work with startups. I've worked with SVB in the past for an AR line that almost no bank would have given us. If you just need a checking account, then there are lots of cheaper banks with better UIs.
You have to acknowledge a bank named Silicon Valley and having absolutely terrible technology and only recently a mobile app that is not even native is somewhat of an oxymoron. They also nickel and dime fees. While I am sure SVB does assist with loans, investors, legal, most small businesses and startups just need a checking account and going with SVB is a mistake.
Earlier quoted context omitted.
You have to acknowledge a bank named Silicon Valley and having absolutely terrible technology and only recently a mobile app that is not even native is somewhat of an oxymoron. They also nickel and dime fees. While I am sure SVB does assist with loans, investors, legal, most small businesses and startups just need a checking account and going with SVB is a mistake.
VC's and tech financing really have awful technology in and of themselves. You can think of it as the cobbler's kids having no shoes or you can think of it as really technically competent folks only really being attracted to VC to get conventional VC money and not ever as customers, but they often just run on excel and such.