Improve Business Compliance with Swyft Filings’s ComplianceGuard

Here at Swyft Filings, we’re committed to providing customers with the right tools they need to succeed in the small business world. That means we strive to be there for customers beyond just the filing process. We understand that it takes a lot to keep a business in good standing, especially when it comes to business compliance. That’s why we’re always looking for ways to update the tools we provide, such as ComplianceGuard.

What’s New at ComplianceGuard: At a Glance

• We are updating ComplianceGuard, our business compliance management tool, with new features to help business owners stay in good standing. 

• Business or corporate compliance means adhering to industry standards or policies and is a central part of keeping the advantages of your corporation or LLC. 

• ComplianceGuard’s Minutes Manager is a new feature that makes it easier than ever to write, save, and access your business’s meeting minutes. 

What is Business Compliance?

Business compliance encompasses the set of legal requirements, industry standards, and best practices that companies must follow to avoid legal and financial consequences. Small business owners must be aware of their compliance requirements, which include regulations related to business formation, taxation, employment, health and safety, and data protection. 

Additionally, corporate compliance ensures that a company operates ethically and transparently, adheres to legal and regulatory requirements, and aligns with its mission and values. To establish effective compliance programs, small business owners must implement policies and procedures that promote compliance, provide regular training and monitoring, and have reporting mechanisms to identify and address compliance issues. 

Overall, compliance is critical for small businesses to operate sustainably and avoid penalties, fines, and damage to their reputation. As a business owner, however, it can be difficult to track every requirement and filing deadline critical to corporate compliance.

That’s why many choose to leverage compliance management tools such as ComplianceGuard.

What Is ComplianceGuard?

ComplianceGuard is a tool available exclusively for Swyft Filings customers. Think of it as a one-stop shop that helps streamline your business compliance efforts. Located in your Swyft Filings dashboard, ComplianceGuard offers a variety of features aimed at helping you keep your business in good standing. 

What does this look like for you as a Swyft Filings customer? Well, when you open your dashboard, ComplianceGuard will offer reminders on important documents your business needs to file with the Secretary of State, as well as the deadlines associated with each. 

For example, you’ll be able to see when your annual report is due or get a quick explanation of the amendment process and how Swyft Filings can help you file those. You’ll also be able to start the filing process with us directly from that section and take advantage of our years of expertise in helping small business owners with corporate compliance requirements. 

New and Updated Compliance Management Features in ComplianceGuard

We’re always on the lookout for ways in which we can update our tools to provide customers with the best experience possible. More often than not, this means we work to incorporate new features that we know will be particularly useful for our customers. That’s why we’re proud to announce key updates to ComplianceGuard that will help customers solve some common issues. 

Meetings Manager

As you might already know, business owners or shareholders of all stripes must hold annual meetings and record meeting minutes to stay in good standing. This recordkeeping practice is critical for a small business to succeed in its compliance efforts. 

Often, small business owners can let these important meetings run without the needed recordkeeping. It’s understandable; as a business owner, you likely have an array of things to worry about. ComplianceGuard’s new Minutes Manager feature can help keep you on track with business compliance. 

Holding annual meetings and tracking the minutes isn’t a mere formality. You’ll be fulfilling specific state requirements and taking advantage of additional benefits, such as:

But how does it work? Luckily for the busy small business owner, this tool makes corporate compliance through recordkeeping easy. The process for using Minutes Manager is simple: 

1. Navigate to your customer account and click on the Compliance Manager tab. 

2. Locate the ComplianceGuard section.

3. Locate the Meeting Minutes area and click File Now.

4. Answer the Minutes Manager questionnaire to generate the document. 

Compliance Manager

You might have noticed that reference to Compliance Manager. That’s the name of our completely overhauled interface that will serve as a complete compliance management system for Swyft Filings customers. 

Compliance Manager will have easy access to pertinent information related to keeping your business in good standing when it comes to corporate compliance. This means timely alerts and the ability to jump straight into creating necessary documents. 

Get Started with ComplianceGuard Today

Customers are already taking advantage of this tool to stay on top of important business compliance deadlines and keep the protections afforded by corporation or LLC status. ComplianceGuard is just one of the essential, valuable features Swyft Filings offers to those who incorporate through us.

FAQs

What are examples of business compliance?

There are several types of business compliance that companies need to consider, depending on the nature of their operations.

Regulatory Compliance 

This type of compliance involves adhering to regulations set by government agencies such as the Environmental Protection Agency (EPA), the Occupational Safety and Health Administration (OSHA), and the Federal Trade Commission (FTC).

Financial Compliance 

This involves following the laws and regulations related to financial reporting, accounting, and taxes. Companies must comply with laws such as the Sarbanes-Oxley Act and the Dodd-Frank Act to ensure financial transparency and accountability.

Data Privacy and Security Compliance 

Companies must comply with laws such as the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA) to ensure that they collect, store, and use personal data in a secure and ethical manner.

Employment and Labor Law Compliance

Companies must comply with laws and regulations related to labor and employment, such as minimum wage laws, anti-discrimination laws, and workplace safety laws.

Corporate Governance Compliance 

Companies need to follow laws and regulations related to their internal management and governance, such as the requirements for holding shareholder meetings, maintaining accurate records, and complying with ethical standards.

Companies must understand and comply with all relevant types of business compliance to avoid legal and financial penalties and maintain a positive reputation in their industries.

Why is business compliance important for small business owners?

Business compliance is essential for small businesses as it helps to ensure that they operate legally and ethically, avoiding costly penalties and reputational damage. By complying with regulations, small businesses can build trust with customers, employees, and stakeholders, which is crucial for long-term success.

Failure to comply with business regulations can result in fines, legal action, and even the revocation of business licenses. This can be particularly damaging for small businesses, which may not have the financial resources to pay penalties or legal fees. Additionally, non-compliance can harm a small business’s reputation, making it difficult to attract customers and investors.

What is an organizational meeting?

An organizational meeting is held by the owners or members of a newly formed corporation or LLC to establish the company’s structure and operations. During the meeting, bylaws are adopted, officers and directors are elected, and stock or membership interests are issued. 

Bylaws are the rules and procedures that govern the operation of the corporation or LLC, while officers and directors are responsible for managing the business. Stock or membership interests determine the ownership structure of the corporation or LLC.

The organizational meeting is typically held shortly after the formation of the business and is often required by state laws. It is an essential step in establishing the legal and operational framework of the company, and the meeting minutes serve as evidence of the company’s legal formation.

Why does my business need to record meeting minutes?

Corporations and LLCs are required to record the minutes of an organizational meeting and submit them to a government entity as part of their business compliance obligations. This is necessary to comply with state laws and regulations, which require corporations and LLCs to establish their structure and operations through an organizational meeting.

The meeting minutes serve as evidence of the company’s legal formation and provide a record of the decisions made during the meeting, such as the adoption of bylaws, the election of officers and directors, and the issuance of stock or membership interests. 

By recording and submitting the minutes, corporations and LLCs can demonstrate that they are complying with state laws and regulations, and they can help to resolve disputes and clarify any issues related to the company’s operations. Failure to comply with these obligations may result in penalties or loss of liability protections, which can have significant consequences for business owners.