Why Delaware for Business?

Why Delaware for Business?

Have you ever wondered why so many entrepreneurs choose Delaware to build their businesses? The answer is in today’s episode of Startup Hustle.

Tune in as Lauren Conaway talks to Kathy Hundley, the president of The Incorporators Ltd. They discuss the laws and regulations protecting businesses in Delaware. At the end of the episode, you may be convinced to establish your company in the state.

Covered In This Episode

It’s all about location! At times, the success of your business comes down to the area you’re operating in. It’s not only about the volume of demand within your geographical zone. But it’s also about running a business in an area with rules and regulations protecting your assets.

Get Started with Full Scale

Fortunately, many states in the US are business-friendly. Delaware is one of them—and we’re delving into that today. Check out the discussion points between Lauren and Kathy below.

  • Kathy Hundley’s journey into entrepreneurship
  • Reasons why Delaware is a hotspot for entrepreneurs trying to incorporate their businesses
  • Best practices that entrepreneurs should remember when starting a business or maintaining one
Learn How to Build and Scale Your Business

Highlights

  • The story of Kathy Hundley and how she started as an entrepreneur (02:49)
  • A familiar horror story in forming a new company (07:44)
  • The range of clienteles for The Incorporators Ltd. (09:02)
  • Rules, regulations, and laws supporting and protecting business entities in Delaware (10:15)
  • Why entrepreneurs choose Delaware to incorporate their businesses (12:02)
  • Explaining the Delaware Court of Chancery (15:01)
  • Discussion of Delaware’s business taxation setup (18:22)
  • Best practices in starting a new business and managing an existing one (25:58)
  • Kathy’s thoughts on how and why her work speaks to her (30:26)
  • What awaits on the horizon (33:55)

Key Quotes

I would say, for most small to medium-sized businesses, Delaware is very attractive because it’s very quick and easy to start your business. The startup costs are quite low.

So Delaware is unique; it’s one of the only states, and maybe the only state, that actually has a dedicated business court. It’s called the Court of Chancery. It dates back to the seventeen hundreds.

But the part that I love is interacting with all of my customers. Hearing about all the different businesses from, you know, a candle company, to a car dealership, to consulting firms. You know it just runs the gamut.

Get to know the advantages of setting up a business in Delaware. Listen to this “Why Delaware for Business?” episode today!

Business Innovation

Rough Transcript

The following is an auto-generated text transcript of this episode.

00:00.00

Lauren Conaway

And we are back. Thank you for joining us for yet another episode of the Startup Hustle podcast. I’m your host Lauren Conaway, founder and CEO of InnovateHER KC. I would be remiss if I did not tell you that today’s episode sponsor is Universal Registered Agents. So, many of our listeners at home, many of you are probably thinking about starting a new business or expanding a current one. That’s kind of what we deal with as our bread and butter. Well, if you are thinking about those things, then it’s really important to get your business set up and maintained properly. You know it’s a difficult thing to do if you don’t have help, so we want to share with you that is exactly what the folks at Universal Registered Agents do. They are there to help you set up your LLC, S corp, C corp, [and] nonprofit. It’s not a problem for them. They do it every day; they can take out the headache and make it so easy. Definitely want you to learn more about Universal Registered Agents. You can click a link in the show notes and get taken to their website. Learn all about it, but please, friends, make sure that you set your business up [to] save yourself time and headache in the future. At that point, I am very, very excited to talk about today’s guest. Today’s guest is an expert in setting up your business, doing it correctly, making sure you’re in compliance, and making sure that all your eyes are dotted, and Ts are crossed. I love talking to tacticians, people who can see a dream and then help you figure out how to get there. And I have to tell you that Kathy Hundley, president of The Incorporators Limited, is one of those individuals. Kathy, thank you so much for taking the time to be on the show today. To chat with us and share your expertise.

01:48.97

Kathy Hundley

Well, thank you, Lauren, for having me. I’m excited to be here.

01:52.83

Lauren Conaway

I love hearing it when guests are excited. Let’s go ahead and hop right into it because I’m excited too. I’m going to ask you, Kathy, you know, the kind of basic softball question. Tell us about your journey.

02:09.50

Kathy Hundley

I’ve lived in Delaware my whole life. I was born and raised here, went to the University of Delaware, and then started my career in a major credit card bank in the area.

02:24.47

Lauren Conaway

Okay.

02:27.90

Kathy Hundley

In the late 80s, I was in a car accident. Following that, I needed to hire an attorney to recover damages from the accident. So I spent a lot of time working with his paralegal on preparing my case, and that sparked my interest in the law.

02:44.60

Lauren Conaway

Sure.

02:47.95

Kathy Hundley

So I decided to leave the credit card bank; I went back to school and got my paralegal certification. Then I took a job with a small law firm. One of the partners of the firm owned an incorporating company called The Incorporators Limited. Honestly, having lived here my entire life, I had no idea that Delaware was world-renowned as the corporate capital. So, you know, I learned so much.

03:11.13

Lauren Conaway

Gotcha.

03:25.78

Kathy Hundley

Working for him in the company, and eventually, he was ready to retire and wanted to sell the business. I thought, well, I should probably try to take my destiny into my own hands and buy it from him. So I made him an offer, and he accepted it. So I bought the business, moved the whole operation to my home, and ran it out of my home for about ten years. 

03:46.69

Lauren Conaway

Hello, gosh.

04:01.95

Kathy Hundley

And then recently moved to an office outside of my home, and I have two employees now.

04:04.97

Lauren Conaway

That is awesome. I have to tell you one of my favorite things. Like those redemption stories are one of my favorite things because think about it. This all started; this all got launched with an accident, right.

04:17.17

Kathy Hundley

Is it?

04:20.26

Lauren Conaway

And I imagine that at the time you were, especially, you know, having to get attorneys of all involved; I imagine that you probably didn’t love the fact that you had been in an accident. So the fact that you were able to channel such a negative, I’m sure, stressful, difficult circumstance, but turn it into such a life-changing . . . I mean, it completely altered the course and the trajectory of your life. Like how does that feel? Does that feel pretty cool? I feel like that must feel pretty cool.

04:41.94

Kathy Hundley

Absolutely. It definitely did. I would not have envisioned myself in the place that I am now back then.

04:55.14

Lauren Conaway

Do you know? But, I mean, look at you now. As I said, you took a very negative circumstance, and you turned it into not just a learning opportunity but the chance to completely rewrite your story. And so, I want to take a moment to honor that now. The next thing that I want to ask is that I’m gonna get very tactical with you. We have a lot of ground that we need to cover together today. So talk to us about what The Incorporators does.

05:13.56

Kathy Hundley

Listen, right.

05:24.54

Kathy Hundley

Okay, so we are mainly focused on Delaware entities and what we do is we assist people in forming their LLC, their S corp, or nonprofit corporation in the state of Delaware. And then we also act as registered agents on their behalf, so we are a business service. Company.

05:48.48

Lauren Conaway

Yeah, so kind of taking it to the ten thousand foot level like there’s a lot. There’s a lot of paperwork and red tape and questions that you get asked when you want to form a company, and so your job is to kind of guide people like act as ah, a sherpa.

05:56.10

Kathy Hundley

Um, is it? Okay.

06:07.74

Lauren Conaway

Of sorts on that particular mountain and help people figure out everything that they need to do in order to become an officially registered business. Okay.

06:18.51

Kathy Hundley

Yes, that’s correct.

06:22.98

Lauren Conaway

Well, I love that, and one of the things that I want to ask you to do before we delve into the nitty-gritty of the whys and the hows and the whats I want to ask you whether you have some horror stories that you can share with us I really want to, I’m partial to our audience. How important it is. To make sure that you register your business properly and that you do it in a way that protects you protects, your assets, and protects your business. Um, you know that’s what your life is all about. But I really want our listeners at home to get that. This is absolutely crucial. The way you form your business sets the tone of the life of your business the entire time you have it operating, right? Would you agree with that, Kathy?

07:04.41

Kathy Hundley

I would agree. I wouldn’t say that I have a specific horror story, but I would say, in general, um, some of the mistakes that I’ve seen are people who form the wrong type of entity. They may not be taking advice from their accountant. Ahead of time, you know to determine you know the best entity type, or they may form it with a name that they later regret or a name that violates. Ah, you know, a trademark or service mark for another company, and then they have to change their name. I mean, there are a lot of things like that happen, but I will tell you that they’re all pretty fixable, but you definitely want to do your research first before you actually form your company, and you know. That would mean reaching out. As I said to an accountant, call us and ask us your questions, and we will guide you.

08:11.87

Lauren Conaway

That’s awesome. Well, so take us through if you don’t mind, and we don’t have to, you know, do too much of a deep dive, but can you take us through the different kinds of business entities that you help people start.

08:22.91

Kathy Hundley

So as I mentioned, you have a corporation which, um, I think most people are familiar with, and they have stock shareholders and a board of directors. It’s very formal and a corporation. You know, file a separate tax return, that type of thing. An S corporation is just a small business version of a general corporation, and then you know, I think the most popular and more recent entity type is an LLC limited liability company.

08:47.68

Lauren Conaway

Yeah, yeah.

09:00.43

Kathy Hundley

Um, they’re less formal than a corporation. They have managers that run the company, and the owners of the company are referred to as members. Um, and an LLC does not file a separate tax return. So they’re a little.

09:18.81

Lauren Conaway

Okay, it’s just kind of like I know that you can’t give you specific custom advice on a podcast that’s impossible to do. So we’re not going to hold you to any of this, but you know what.

09:18.90

Kathy Hundley

Easier to manage, I think they are nice for small businesses.

09:26.90

Kathy Hundley

Right.

09:35.46

Lauren Conaway

Can you tell us about the different rules, regulations, and laws that are in place to help support and protect these different kinds of businesses? So like, for instance, in LLC, it’s my understanding, and please help me figure out how to say this in the most professional and accurate way. But like. LLC is one of the reasons that you form an LLC is to protect your own assets and to protect yourself from liability. Um, you know, can you speak a little bit about that.

10:02.74

Kathy Hundley

Yes, and all legal entities provide some level of protection to the owners. The actors within the company, um, with an LLC. There is. Personal protection is built-in. In other words, you know your personal assets are not a party to that entity. So If for some reason you end up in litigation. Um, you know they’re not going to be able to take your house, your car, that kind of thing. Um, and there’s. The same built-in there are protections for the members of the board for corporations as long as they are performing their duties. You know, within good faith, so that’s why you want to put your business into a legal entity to separate it from your personal assets.

11:03.11

Lauren Conaway

Okay, all right? Well, and so again, you’re kind of underscoring the fact that it’s just vitally important that you pick the right business model, the might right business registration that works for you? Um, so talk to us.

11:17.29

Kathy Hundley

Does it?

11:22.54

Lauren Conaway

I’m very curious about this, and I will note that this is the episode title. So we’re going to get right into the thick of it. But why do so many founders choose Delaware to incorporate their business in, even if they don’t live in Delaware? What is the benefit of that?

11:36.72

Kathy Hundley

Maybe? So there are a number of reasons, and I think the reasons vary depending on the corporation or entity and the size of it. I would say, for most small to medium-sized businesses, Delaware is very attractive because it’s very quick and easy to start your business. The startup costs are quite low. You never have to file a Delaware return or pay tax to Delaware, a state income tax.

12:12.29

Lauren Conaway

That.

12:14.23

Kathy Hundley

There is a flat franchise tax that every entity pays to the state of Delaware to manage their charter every year, but it’s for an LLC. It’s about 300 for corporations; most small, medium-sized corporations are only paying one seventy-five, so it’s a nominal fee. Um, and I think the thing that’s unique about Delaware for small to medium-sized businesses is the division of corporations. It’s a government agency, and we all have dealt with it. Government agencies felt that pain, but the division of corporations operates as a customer service company. Um, and they partner with companies like The Incorporators and Universal Registered Agents.

12:58.35

Lauren Conaway

Okay.

13:06.77

Kathy Hundley

Um, and we have a contract with them where we can actually prepare and submit filings to them directly. Um, and we work right in their corporate information system, and it’s a collaborative partnership between the division of corporations and the registered commercial agents, and that allows us to, you know, perform multitudes volumes of filings with you know quickly you know keeping the costs low and those kinds of things. And I think that’s very attractive to small and medium-sized businesses. I would say for the fortune 500, the Delaware Court of Chancery is the big draw.

13:49.26

Lauren Conaway

Okay, yeah.

14:00.73

Lauren Conaway

Ask about that. I was so excited that you just brought that up because that was literally on my post-it note as my next question. What is the Delaware Court of Chancery? I came late. When we were doing research for the show, we came across this phrase, and I was just like, huh.

14:01.70

Kathy Hundley

Good.

14:07.97

Kathy Hundley

May have.

14:18.99

Lauren Conaway

Oh, I’m going to want to ask about that. So talk to us. What is it?

14:21.70

Kathy Hundley

So Delaware is unique in that it’s one of the only states and maybe the only state that actually has a dedicated business court, and it’s called the Court of Chancery, and it dates back to the seventeen hundreds, and it’s.

14:32.27

Lauren Conaway

Ah.

14:38.16

Lauren Conaway

Oh my gosh, ah crazy.

14:40.88

Kathy Hundley

Their focus has always been on equity law which is business corporate transactional law, and so if you find yourself in litigation in Delaware with your company.

14:48.79

Lauren Conaway

Okay.

14:58.23

Kathy Hundley

Um, you have this dedicated court that has a longstanding body of precedent of law behind it. There are only five judges, and they all come from. You know the business litigation background, and they are chosen by their peers. They’re selected to be on this court based on merit, and um, so the big companies, fortune 500 companies like the fact that this court and the body of law behind it. It is very stable. It’s very predictable, and it’s also very flexible. You know, you think about, you know, over the last couple years or the last decade, I guess with the internet, you know, that changes the way we do business. So ah, you know that. The body of law has to be flexible to say okay, well, now we need to see if you know people can have board meetings on Zoom or, you know, can they share shareholder information by email. So um, the law council and the court is.

15:58.39

Lauren Conaway

Yeah. Right.

16:11.40

Kathy Hundley

It is very flexible, very open, and it gets things done quicker too because you’re not bogged down in Civil Court or what have you.

16:18.80

Lauren Conaway

Sure, that is super cool. So it’s almost as though you have a team of advocates kind of working for the business community on the business’s behalf. I know I love that I can really see why it might be attractive to incorporate.

16:27.77

Kathy Hundley

Exactly.

16:36.46

Kathy Hundley

The hand.

16:37.96

Lauren Conaway

Where that was super cool, and so you said that it was the only state in the country that you’re aware of that does this? Do you see any? Do you see any states maybe in the future adapting this model because it’s clearly been very successful in Delaware?

16:51.62

Kathy Hundley

Well, like I do think that there are other states that you know, I will say ah, almost all of the states model their own state corporate law after Delaware um.

17:05.10

Lauren Conaway

Okay.

17:08.49

Kathy Hundley

As far as the court system, again, I’m not positive that they don’t all do it. But if they were there, there would probably only be 1 or 2 that actually do that if they have their own dedicated court. But um, the chancery court of Delaware is renowned around the world.

17:15.30

Lauren Conaway

Sure.

17:23.80

Lauren Conaway

That is awesome. I love the phrase renowned around the world. That is super cool. Ah well, so do you think there. There’s that you know the Court of Chancery there where you know these kinds of business. Friendly.

17:36.42

Kathy Hundley

Listen.

17:42.10

Lauren Conaway

Laws, rules, regulations I understand Delaware has a pretty generous business taxation setup. Can you talk to us a little bit about that?

17:51.90

Kathy Hundley

Well, as I mentioned, if you are incorporated in Delaware but you’re not doing business in Delaware, you don’t pay. You don’t have to file a Delaware corporate income tax return. You just pay a flat tax.

18:05.72

Lauren Conaway

Um.

18:10.23

Kathy Hundley

To the division of corporations for you know, maintaining your charter every year, so it’s an annual fee for LLCs currently, it’s 300 for corporations. It can be as low as one seventy-five um and um. We also don’t have sales tax. I don’t know that that really benefits corporations and entities that are formed here, but it definitely benefits the residents of Delaware. Yeah.

18:30.88

Lauren Conaway

Sure. Yeah, certainly can’t hurt, huh, all right? Well, I do have to ask you, and I’m actually really, really excited to ask you this, but you had mentioned Universal Registered Agents. Ah, they’re a partner of yours. Can you talk to us a little bit about your partnership?

18:52.24

Kathy Hundley

Yes, so we entered into a partnership about two years ago. It’s been great. As I mentioned, the incorporator’s limited focus is mainly on Delaware, so we do all of our services. Ah, filings in Delaware, and you know registered agent services in Delaware, but um, Universal Registered Agents actually have set up a network across the country so that they are able to provide services to companies.

19:14.10

Lauren Conaway

Yeah.

19:29.12

Kathy Hundley

In all fifty states. So the exciting thing for The Incorporators for my company is that you know, we have businesses that are registered in Delaware, but they may need to register in another state for whatever reason if they’re doing a project there or hiring someone in another state. So now. I’m able to pull from those resources and get that registration done for them through Universal Registered Agents, and you know, keep this client under this umbrella of the partnership so that you know, as you mentioned, the compliance you know.

20:07.50

Lauren Conaway

Yeah, well, that is pretty awesome, and I’m super excited to hear that because folks, as you may remember from like 20 minutes ago, Universal Registered Agents are this episode sponsor.

20:07.77

Kathy Hundley

Nothing gets missed.

20:24.17

Lauren Conaway

They are a company that understands that setting up a new business and keeping compliant. It isn’t always the easiest, particularly if you’re a new entrepreneur. You don’t understand all of the nuances of all of the laws. Everything that’s in place. It’s really important to have an expert to help you along the way. And that is exactly what you’re going to find when you visit http://universalregisteredagents.com. They can help you with all of your business setup and maintenance needs. They can help you set up an LLC, a corporation, a nonprofit, wherever you are located and help you find the solutions that work best for you, in addition to helping you create the right kind of entity at http://universalregisteredagents.com. They can also help you with Universal Registered Agent services. They’ve got a wide variety of corporate services. They can help the needs of independent directors and startup founders. I mean, if you are looking to register your business, no matter which way you do it? Universal Registered Agents can be there. To help you through it. So thank you for sharing that so much. I love that you were able to share that kind of personalized piece of the story. Kathy is someone who has worked with them. That is awesome, and we’re super psyched to have them as an episode sponsor.

21:25.16

Kathy Hundley

Um, and yeah.

21:34.28

Lauren Conaway

Folks, just a reminder. We are here with Kathy Hundley, president of The Incorporators Limited, and we’re talking about business registration and compliance and governance and all of those things that seem really scary to new entrepreneurs. We’re talking about ways to make that process easier. We’re talking about Delaware. Which I have to tell you is Delaware or are like our second smallest state is that yeah Rhode Island then del yeah amazing.

21:56.25

Kathy Hundley

It is yes, Rhode Island is smaller, but we are the first state to ratify the constitution. Um. Yeah, and um, just speaking of, you know, in terms of size, I will tell you that we have about 1,000,000 people in the population of Delaware, and in contrast, Delaware services about one point eight million.

22:21.26

Lauren Conaway

Okay.

22:31.51

Kathy Hundley

Corporate and LLC entities.

22:32.60

Lauren Conaway

Series you for a relatively small geographic area, Delaware packs a lot of punch and, specifically, a lot of business punch. I love that you know he is small but mighty.

22:36.26

Kathy Hundley

Um, yeah, right? That’s more right.

22:46.95

Lauren Conaway

I think that that’s how I’m going to think of Delaware in my head from here on out and never but somebody who says Delaware I’m just to be like ah small but mighty yes, no I love that so I’m gonna ask you for a little bit of insight and if you don’t know the answer to that this question that is totally fine I’m just gonna give it a shot. But do you know? Why? Delaware has implemented so many policies, procedures, and laws. Um, that is supportive to the business.

23:16.54

Kathy Hundley

Well, as I mentioned, the Chancery Court was something that you know has been in existence since the seventeen hundreds, and it was always this equity court. Um, I don’t, you know I don’t even know that.

23:26.80

Lauren Conaway

Yeah.

23:33.78

Kathy Hundley

Back then or going forward they knew how much of an impact that would have in the corporate industry going forward, but it slowly built over time that companies that were forming. Um, you know, had this.

23:41.54

Lauren Conaway

Yeah.

23:52.52

Kathy Hundley

Understanding that they could kind of predict the outcome of litigation that the laws were very stable. So um, it just became something that Delaware had a reputation for. And then, as I mentioned, I think the state government did a great job in casting the division of corporations as a customer service type of company. As opposed to, you know, a state agency that you normally think of. With all the red tape and everything and entering into this partnership with commercial registered agents, so that they can handle the volumes of work that they’re getting and you know they continuously strive for.

24:30.80

Lauren Conaway

Yeah.

24:46.58

Kathy Hundley

Um, quality improvement. They’re wonderful about asking for feedback. You know they want Surveys and all of that, and they and they make changes, you know, based on their feedback.

24:59.46

Lauren Conaway

Well, I love that, and I love again this small but mighty state they’re setting a precedent around the country like how we can operate in transparent and helpful ways to our business community. So good, Anya Delaware.

25:05.68

Kathy Hundley

Her.

25:14.45

Kathy Hundley

I mean.

25:18.54

Lauren Conaway

Well done. Ah, now I want to ask you about this guy. This is my favorite part of my episodes of the show, and I am going to ask you. I know that you are first and foremost you’re a guide, and you’re a helper. Um, but I’m going to ask you to give a little bit of it away right now, and I’m going to tell you some best practices. So, we have a lot of entrepreneurs listening at home, and some of them may be thinking about starting a new entity or starting their first entity, and I’m curious. What are some best practices that the entrepreneurs listening at home could implement tomorrow to make the process of starting a new business, maintain their business, starting a new, I don’t know, a subsidiary or what have you? What are some best practices that you should keep in mind? To make those processes easier.

26:14.70

Kathy Hundley

So I mean, I think the first one would be that you want to have a network around you, a network of support of experts. So you know you’ve got your incorporating company registered agent, um, and they are going to help you with.

26:22.22

Lauren Conaway

For sure.

26:33.41

Kathy Hundley

For certain compliance, you want to have an accountant that understands your business and your goals, and that can help you determine what’s the best entity type for me. And how is that going to impact my personal taxes and the business taxes. I think that you know going forward from that point you yeah there are things that for example, make sure that you’re protecting your excuse me your company documents. Once you have those filings, I mean, I can’t tell you how many times people will call me years later and say that they lost their documents.

27:10.70

Lauren Conaway

Still no.

27:12.38

Kathy Hundley

So yeah, it happens, you know companies move offices and that kind of thing so protect your documents. Um, I think the other thing is you want to have somebody always have somebody who is in you know their job is to handle your compliance. So. That you’re meeting these filing deadlines if you have to pay your tax in Delaware or if you need to file an annual statement in the state where you’re registered or um, you know, renew your business license, have a person that’s responsible for that and if that person leaves then you know that. Those functions need to go to someone else because if you don’t maintain your compliance. That’s when you can get into trouble with, you know, losing your charter, and although you know, there’s a remedy for that as well. It can be very costly. It can be very time-consuming. So those are the things I would say, um, you know, from the beginning. Yeah, add those things to your to-do list.

28:09.28

Lauren Conaway

It could be most impactful. Yeah, well, well, and it sounds like, I mean like you mentioned it before, and you just said it again like you can fix these things, but it’s gonna take more time. It’s gonna take more effort. It’s gonna take more money.

28:20.97

Kathy Hundley

The head.

28:28.35

Lauren Conaway

Nobody wants that and so really, what you want to do is make sure that you have your ducks all in a row on the front end, right.

28:29.66

Kathy Hundley

That’s right.

28:34.87

Kathy Hundley

That’s right. You definitely want that, and if you do run into a problem like that, then you do want to reach out to somebody like The Incorporators or Universal Registered Agents because we are experts in that area, and we can help you fix those things. But we would rather you be focused on your business.

28:52.35

Lauren Conaway

Yes, and anything that can help an entrepreneur focus on what they do best is a good thing. One of the things we talk about a lot around entrepreneurial circles is the fact that, you know, often startup founders, we are expected to be experts.

28:59.34

Kathy Hundley

Um, right.

29:09.82

Kathy Hundley

Right.

29:10.42

Lauren Conaway

In everything like we have to know about marketing and sales and product development and client retention, and you know all accounting all of the things that go into making a business making it successful making it keeping it sustainable. Um, you know nobody. He knows all of that, and so being able to tap experts people who have made it their life’s work to help with those items. It’s so key and so crucial. So thank you so much for being such a great resource.

29:31.70

Kathy Hundley

That’s right.

29:45.96

Kathy Hundley

Um, her.

29:46.63

Lauren Conaway

Through the business community, I mean I know that I know that you get paid for it. But it’s got to be a calling because it can’t be easy. So let me alright? Like I’m gonna get personal for a minute, and I hope you will allow me to do so, but I want to ask you, Kathy, what speaks to you. About your work and about helping these businesses get started and get started the right way. Why is it important to you?

30:11.66

Kathy Hundley

Well, I truly enjoyed speaking with all of my clients. Um, you know they come from all over the world. They have completely different backgrounds. Um, and you know. As you mentioned, you know when you start your own business. You are expected to be an expert in everything, but you can’t possibly, so you know I enjoy it, right? That’s right? I enjoy it.

30:36.90

Lauren Conaway

Right? You’re setting yourself up for failure if you think you’re gonna if you’re gonna know everything about everything when it comes to starting a business.

30:49.96

Kathy Hundley

Speaking with all of my customers, and I have years-long relationships with many of them, I get to know them. I know about their families and what type of businesses that they’re running or what new ideas they have and that kind of thing. And they call me and ask for my advice, and I love to help them along that process. So I think you know that would be the thing I enjoy the most, you know there’s the part of my job that’s filing documents and that kind of thing. I’m happy to do that. But the part that I love is interacting with all of my customers. Hearing about all the different businesses from, you know, a candle company, to a car dealership, to consulting firms. You know it just runs the gamut.

31:42.46

Lauren Conaway

Yeah, well, that is awesome, and I’m just I’m very glad, and I’m going to thank you on behalf of the entrepreneurs listening at home for the work that you do for the work that The Incorporators Limited do, the work that Universal Registered Agents does, you know, those people. Make it easier to be an entrepreneur. Our hats are always off to them. We salute them, and we salute you. So thank you? Thank you, Kathy, we’ll see you. We appreciate you speaking of appreciating you can you talk to us about I don’t know some customers.

32:07.16

Kathy Hundley

Um, thank you.

32:20.80

Lauren Conaway

You don’t have to name names or anything like that but like some success stories. Do you have any in your back pocket? I’m sure you do because you work with people from all over the world.

32:28.27

Kathy Hundley

Um, I mean, we do have, I guess, if you’re talking about. Um, we do have a couple of clients who are rather famous. I can’t really name names but a very ah.

32:39.95

Lauren Conaway

Ah, all right? Her worst was.

32:46.29

Kathy Hundley

Few actors, a few musical artists, that type of thing. Um, so.

32:56.20

Lauren Conaway

Okay, well, I mean, really, it’s just those success stories. You know you were able to work with individuals. You took the time to help them get their business entities started right and famous or not. You know, it just loved the fact that that is.

33:11.63

Kathy Hundley

Um, yeah.

33:15.91

Lauren Conaway

That is what you do? What do you see as the future of The Incorporators Limited? What are you hoping to see as far as growth, or you know, five years down the line, where do you want to be?

33:28.97

Kathy Hundley

Um, well, I think that you know, for the last couple of years and once we entered into this partnership with Universal Registered Agents. It’s been an exciting time. We’ve had a lot of growth. Um, and we have. Ah, provided resources to each other back and forth. So you know, I hope to see that growth continue. I’m excited that now that through that partnership, I can expand my services out of the state of Delaware. I’m hoping that five years from now, we’ll see just more continued growth, and I do know that, um, I’ve seen, I think, since the pandemic almost an explosion in entrepreneurship because of people. You know, maybe but having more time at home. Um, so they’re working on their side hustle, or they’re, you know, honing their skills for whatever type of talents they have and turning those into businesses, and it’s definitely impacted them. Corporate world. Um, and I think, ah, I don’t see that that’s going to slow down anytime soon. I think a lot of people have decided to leave the traditional workforce, do you know? What do they want to do?

34:58.12

Lauren Conaway

For sure, I mean, I do feel, you know, like the pandemic and the social unrest and all of them, you know, even like a potential impending war. Um, you know we have all of these.

35:08.87

Kathy Hundley

Um, nothing.

35:14.31

Lauren Conaway

Societal pressures that have been cast upon us over the course of the past few years, and so I feel like exactly what you said, like people doing what they want to do rather than what they have always done, has become this really. It’s become a movement, really.

35:27.94

Kathy Hundley

I think.

35:30.72

Lauren Conaway

Like we talk about the great resignation, and we talk about the fact that you know people are no longer standing. So I firmly agree with you like 1 of the things that people want to do: they want to work for themselves. They want to, you know, create their own businesses and solve their own problems and create their own products and.

35:41.77

Kathy Hundley

Have it.

35:49.23

Lauren Conaway

Share them with the world, and so I love that you said that because you know, it’s not going away anytime soon. I don’t see it going away anytime soon, and again you know the fact that you and the incorporator are limited, like you’re uniquely positioned to help people realize that dream.

35:58.95

Kathy Hundley

That’s it.

36:07.50

Lauren Conaway

And be a step on that journey. I actually remember the first day I got the articles of incorporation back where I was just like, oh man, you know this is really real. I remember looking at that document, and I’m just like, oh.

36:18.30

Kathy Hundley

Yeah, her.

36:23.25

Lauren Conaway

Now I actually have to do something with it because this is it’s officially official, you know, and that feeling that you give your clients and customers like it. It really can’t be beaten. This is mine, and this is something that I believe in, and this is something that I really want to do, so that is super cool.

36:25.87

Kathy Hundley

So.

36:40.92

Lauren Conaway

Um, I just love it all right now. I’m gonna ask you. I have the human question for you, and I will like full disclosure, listeners I did tell Kathy what her human question was going to be, and because we were kind of we talking around it, and then I was like, well, why don’t I just ask you this so my question to you, Kathy.

36:51.77

Kathy Hundley

Question.

36:58.98

Kathy Hundley

Um, and the.

37:00.78

Lauren Conaway

It is no surprise to you but our listeners. Hopefully, they are interested to hear if you had to choose your last meal. What would that last meal be?

37:10.33

Kathy Hundley

So I am definitely a surf and turf kind of person. So I’m gonna start with some raw oysters on the half shell, and then so.

37:14.70

Lauren Conaway

Oh right.

37:22.10

Lauren Conaway

Nice. You have a particular way that you like to make those out, like lemon juice. The cocktail sauce.

37:30.70

Kathy Hundley

I do love a little bit of cocktail sauce. A squeeze of lemon and then just, you know, down the hatch, right? And yeah, and then.

37:33.49

Lauren Conaway

Okay, and then yeah, you just throw it back, all right? So simple, all right? So some simple oysters on the hash shell, all right.

37:43.46

Kathy Hundley

I like Porterhouse, and I like my steak very rare. And then you know, yeah, I’m probably on the side of, I’m more into vegetables. So not starch, so I’d probably do asparagus or brussels.

37:47.80

Lauren Conaway

Oh, you are, you are speaking my language, friends. I dig Porterhouse. Okay, nice, how, how have you been enjoying this renaissance that brussels sprouts are exploring? But I have loved it, and I know so many people who are like, I hate brussels sprouts. I’m like, what are you talking about? So now, like you.

38:03.14

Kathy Hundley

Route something like that on the side.

38:08.60

Kathy Hundley

I love it.

38:15.40

Kathy Hundley

Well.

38:18.50

Lauren Conaway

Being able to actually find them on a menu and have them because . . . my husband doesn’t like them at all. I never cook them, so going out to a restaurant and seeing brussels sprouts roasted with bacon, I’m just like, yes, let’s do that.

38:23.12

Kathy Hundley

Present.

38:30.22

Kathy Hundley

But see, that’s the key because growing up, our parents always boiled them. And they are not good boils. Yes, so you have to close them.

38:40.00

Lauren Conaway

They are not great boils. But, I mean, yeah. And you have to throw some butter on there. I wouldn’t say that the way that I enjoy brussels sprouts, it’s not the healthiest way. Although, I’m sure you’re probably getting vitamins in there and stuff like that. But I just like to throw some butter.

38:51.78

Kathy Hundley

Um, say.

38:55.83

Lauren Conaway

Let’s throw on bacon. You know, like definitely removing all of the potential health benefits, but they taste so good. Well, I love that.

39:01.24

Kathy Hundley

Um, me too.

39:10.73

Lauren Conaway

And I am so glad that you have taken the time to chat with us, Kathy. This has been really great. You’ve actually opened my eyes to the power of Delaware. Now, I feel like I’m going to become a Delaware advocate here in the city where I am. I’m just gonna be like, hey, have you heard about Delaware? Because it’s amazing.

39:22.64

Kathy Hundley

Grave.

39:29.92

Lauren Conaway

Just know that’s coming, but I just want to thank you for taking the time to be with us today. And to share your experiences and your wisdom.

39:37.17

Kathy Hundley

Well, thank you, I enjoyed it so much, and I really appreciate your time.

39:41.44

Lauren Conaway

Absolutely, you know, speaking of appreciation, one of the things that we really appreciate in Startup Hustle; we appreciate our episode sponsors. Once again, a big thank you to today’s episode sponsor, Universal Registered Agents. They are going to help you set up your new business and maintain all aspects of business compliance. Their goal is to make your job easier, so you can focus on what you do best, which is running your business. So definitely connect with them. We put a link in the show notes, so check them out. Do you understand the whole NFT thing? It’s okay if you don’t. I don’t really either.

40:23.38

Kathy Hundley

I’ve heard of it, but I actually can’t think of what that means right now.

40:28.14

Lauren Conaway

I know. And I know, Kathy, I know so many people who are in our boat. Like we’ve heard of it. I kind of have a vague understanding. Well, just so you know, Matt DeCoursey has embarked on a ten-episode series on NFTs. You can find them on Startup Hustle, wherever you find your podcast consumables. But he is breaking it down. He’s telling us what NFTs are and how to use them. All of those things are just kind of giant question marks for so many. So definitely check out the NFT series on Startup Hustle. And, friends, once again, I say this in every show because I mean it. We are so grateful that you take the time to listen to us. You have a lot of podcasts out there, yet you all listen to Startup Hustle time and time again. We are very grateful for you, our listeners. Without you, none of this would be possible. So thank you, thank you, thank you. And we will catch you on the flip side.

Sponsor Highlight

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