In the 21st Century, businesses are subject to multiple laws and regulations to which they necessarily need to comply. These include both national and international regulations that govern the activities of a company, depending on the location. Corporate laws like the Companies Act (India) and Model Business Corporation Act (US) lay down the guidelines that corporations need to follow, depending on the area of operations. There are several other laws that directly or indirectly shape your business. Company secretarial service providers use their experience to help you stay compliant with all the legal requirements related to the business.
Prime Benefits of Hiring a Company secretarial service Provider
Choosing a reliable company secretarial services provider will provide you with flexibility and time to focus on your core business operations instead of worrying about the latest regulations. The role of a company secretarial service professional is comprehensive and depends on the type of organization they are working for. Some of the most prominent benefits of company secretarial services for businesses are listed below.
– Cost-efficient
Hiring a company secretarial services provider will save you tons of money you would have spent on an in-house team for training and other employment benefits. You can allocate your saved funds to more productive applications and grow your primary business operations. One can work with the most talented professionals in the industry without paying any premium if they are hiring a company secretarial service provider. High-quality services on a budget should be your first inspiration for hiring an external service provider.
– Accurate and consistent results
The company secretarial service providers have professional industry experience and are well-versed with the everyday challenges that your business might face. Choosing a reliable and experienced service provider will give you far more accurate and consistent results. They will effectively predict and manage your business’s administrative challenges.
– Better conformities with legal matters
If you are looking to minimize the risk of non-compliance in your organization, then you should hire a company secretarial service provider. The expert professionals employed by these service providers have extensive knowledge of corporate laws. Since they are experts in this domain and have a vast clientele, you won’t have to worry about any new legal obstacles coming your way.
– Helps you to focus on core operations
Hiring a company secretarial service provider will help you focus on your core business operations instead of allocating your time and resource to legal compliance objectives.
– Employ the latest technology in secretarial practices
Another essential benefit of hiring a company secretarial service provider is using the latest technology to get the work done efficiently. Since they are primarily engaged in this business, they are equipped with the best technological infrastructure to boost productivity and get the job done faster.
Roles and Responsibilities of a Company Secretary
Company secretaries play a massive role in keeping your business compliant with the latest legal norms. The roles and responsibilities of company secretaries are pretty broad and are subjective to the industry they are working in. Some mainstream responsibilities include the following.
– Legal advisor for business
The primary responsibility of a company secretary is to act as the legal advisor for an organization. Company secretaries are well-versed in the complex corporate laws and help to guide their clients on the same. They offer the best course of action to comply with all legal and regulatory norms.
– A connecting link between various stakeholders
A company secretary also acts as a liaison between various stakeholders in a company. They handle essential communications between investors, board of directors, regulatory authorities, etc. Advising the board of directors on their legal obligations also falls under the duties of a company secretary.
– Conducting meetings and keeping a record of the same
Conducting meetings such as committee meetings, general meetings, board meetings, etc., is also a prime responsibility of a company secretary. They also have to keep a record of essential discussions during those meetings.
In a Nutshell
There are plenty of benefits of hiring a reliable and experienced company secretarial service provider for your business. Cost optimization, expertise and accuracy is the most prominent benefits of hiring a competent firm to help your business stay compliant with corporate law.
