by bluadmin | Mar 30, 2022 | Business
Texas has always had a reputation as being a conservative state with low taxes and little government regulation. However, over the past few years, Texas has become increasingly business and tech-friendly. Here is a detailed article why the tech industry is relocating to Texas
Why the Tech Industry is Relocating to Texas
California’s mild climate, educational opportunities, and the job prospects that the state provides have proven attractive to workers for tens of years. Which helped turn the area into a hub for the tech industry. However, the region’s status as the center-of-the-tech-universe seems to be fading at a rapid rate. Silicon Valley has been the epicenter for the tech industry in the United States; however, there appears to be a paradigm shift due to the high housing costs, unfavorable tax rates, and stricter regulations that have made it difficult to live, work, and do business in the region.
As a result, more businesses are drifting away from the San Francisco Bay area and migrating into Texas. The growth that Texas has experienced is so great that the state now has more jobs than it did prior to the unemployment spike caused by the covid-19 pandemic. The job growth is strongly driven by population gains. Which has significantly outpaced the rate that the rest of the country had seen in recent months– based on federal data.
Starting a Business in Texas
Texas LLC formation has proven to be a popular choice among new entrepreneurs as well. Teaming the zero income tax that the state imposes with the pass-through taxation that LLCs are subjected to means that members of an LLC in Texas will turn over a larger profit. An LLC is therefore considered as a pass-through entity. Which is also referred to as a flow-through entity. This means that the LLC will pay taxes through an individual income tax code instead of through a corporate tax code.
Registering an LLC
Registering an LLC comes with a filing fee of $300, which is payable when filing the Certificate of Formation with the Texas Secretary of State. The filing process can be conducted by mail or online. And correctly filing this document will officially form the Texas LLC. Making it a legal entity that is registered with the state of Texas. However, before this can be done, entrepreneurs will be required to complete other requirements.
Naming the LLC
Naming the LLC is an important aspect and is a detail that needs to be included when filing the Certificate of Formation. A good business name should evoke emotion in a consumer and should accurately represent what the brand stands for. It should also be catchy enough to grab the attention of a customer. Yet simple enough that they are able to easily remember the name. Keeping this in mind. Entrepreneurs will also have to strictly conform to the rules and guidelines. That have been laid out by the local, state, and federal authorities. This will ensure that while the name is exciting and memorable. It does not cause confusion or infringe on any copyrights of other businesses.
A registered agent will also need to be assigned as their details will be needed when filing for registration. Details such as the agent’s address and contact details are necessary. Since a registered agent is the official line of communication that the state will use when contacting the business.
Final Thoughts
While New York may be called the city of dreams. Texas is definitely the state that has been turning dreams into a reality. The Texas Economic Development webpage states, “Texas offers the best business ecosystem in the nation and has frequently been named the best state to start a business. Our leading business climate and favorable regulatory environment provide the groundwork small businesses. And entrepreneurs need to succeed.” With the strong support of the government and the thriving business ecosystem, the Lone Star State is well on its way to becoming the new epicenter for technology in the United States.
by bluadmin | Mar 1, 2022 | Business
Working remotely wasn’t an option for organizations that could allow employees to conduct their duties outside of the office. Working from home was necessary when cities throughout the world shut down after the pandemic hit. In this post, I am going to expand your knowledge about remote work trends in 2022.
Remote Work Trends in 2022
As life restarts and businesses reopen, there is finally a light at the end of the tunnel, but many employees who have become accustomed to remote working are left in the dark. Has the world of work been altered forever? Let’s have a look at some of the forecasts for the future of remote work.
Remote Employment Isn’t Going Anywhere
As we adapt to a post-pandemic lifestyle, the first truth that businesses and employees must recognize is that remote work will not go away. While it may not be as prevalent as it was during the peak of the shutdowns. It will remain a common and popular work arrangement.
As our economy changes and the way we work evolves. There’s been a lot of talk about the future of remote employment. Furthermore, there has surely been an increase in remote job searches.
According to a study by SHRM, One-third of workers say they would not want to work for a company that required them to be onsite in a physical office full-time. Organizations that want to attract and keep top talent will need to emphasize remote work, and other employers will be forced to follow suit in order to stay competitive.
Businesses Will Adopt a Hybrid Work Approach
Will businesses abandon their office space in favor of purely remote teams? Not quite, although several well-known corporations have done so. Employers are more inclined to use a more flexible approach, known as the hybrid model.
Rather than forcing employees to choose between working remotely or in an office, a hybrid approach allows people to choose the work location that best suits them, with the understanding that it may change. They can choose to work from home a few days a week or occasionally from the office. It is not rigid and allows for a great deal of flexibility.
As a result, many companies are pursuing a hybrid strategy, with companies such as Ford and Spotify already implementing it. Nine out of ten executives see a hybrid approach as the way forward. Employees appear to agree, with many indicating they’d prefer employers embrace a more flexible working model following the pandemic.
The Number of Digital Nomads Will Increase
While remote work may conjure images of working from a home office or even the couch, many professionals have higher aspirations. Widespread and long-term lockdowns have sparked wanderlust. Which led to an increase in the number of people who identify as digital nomads, people who travel and work remotely from various locations regularly.
You may not be able to video call your remote team from the comfort of your own home in the post-COVID era. One coworker may connect from a Vermont wood cabin, while another may connect from a coffee shop in Spain. This flexibility has led to an increase in remote work jobs and occupations such as software developers, writers, web developers, data scientists, digital marketers, and more,
Businesses Will Spend Money on the Correct Tools and Training
Working from home isn’t a fad. Companies that previously viewed it as a temporary stumbling block are now understanding that it is something they must embrace on a long-term basis.
When employees claim they’re unhappy at work because of outdated technology. It all starts with ensuring that their teams have the proper tools to communicate and cooperate effortlessly, both asynchronously and in real time.
We’re sure we’ll see companies abandon clunky workarounds and inefficient processes in favor of setting up tech-savvy systems. That are remote-friendly from project management platforms. And goal dashboards to instant messaging tools and virtual meeting solutions.
Businesses will also invest time and money in training managers and leaders in charge of distributed teams and departments. Employees can attend coding bootcamps to learn skills that will help them perform their jobs more effectively.
Leaders will need the right tools and knowledge to handle remote onboarding and then successfully manage, and inspire. And monitor their direct reports as remote work becomes the norm.
What Does the Future of Work Have in Store for Us?
Unless you have a crystal ball, predicting what’s coming down the pike is tough. After all, most of us are unlikely to have seen the huge curve balls that have been thrown our way during the last year or two.
However, studies and expert projections indicate a future in which the focus is on what work is done, rather than where or when it is done. That isn’t only a change in logistics. It’s a cultural shift for many firms that will prioritize results over hours, and employee productivity over whereabouts. Hope you have now well aware of Remote Work Trends in 2022.
Article by: Elizabeth Mackenzie / Founder and CEO / https://www.globalprassociates.com
