By Guest Contributor Andrew Trull | PR strategist, Ferebee Lane + Co.
S.C. Secretary of State Mark Hammond outlines resources businesses need to improve efficiency
South Carolina Secretary of State Mark Hammond joined the Marchant Company last week as keynote speaker of their Fourth Quarter Executive Breakfast, a series providing regular insight on the issues affecting our business community. In his role, Hammond is responsible for the supervision and enforcement of business records and licensing. His remarks, delivered to a collective of Upstate professionals and civic leaders, reinforced state efforts to “simplify business services” and provide the resources needed to improve efficiency.
In Focus
The South Carolina Secretary of State’s Office is responsible for the administration, oversight and enforcement of services for a wide range of public, private, corporate and not-for-profit entities. Divisions of the office manage business operations and licensing, trademarks, state boards and commissions, public charities and notaries. Resources provided by the office are available online at scsos.gov.
SC Business One Stop
SC Business One Stop is an online resource created by the secretary of state to streamline and simplify state business filings. Prior to its launch, the average time required to apply and file state paperwork cost the average business over 40 hours. The new system aligns and assimilates required forms for five separate state agencies including DHEC, the Department of Revenue, the Department of Consumer Affairs and the Employment Security Commission – making it easier to establish and manage businesses in South Carolina.
Going Digital
Over the past two years, the state has worked to move records and access to key corporate data online. By increasing the accessibility of information like UCC reference data, businesses and individuals are able to request and obtain critical information when and where they need it. The move reduces government red tape and expedites the due diligence and contract process.
Corporation Search
The online corporate search tool provides a resource to vet and validate the background of corporations operating in South Carolina. The secretary of state works in conjunction with the Department of Revenue and the Department of Justice to maintain a comprehensive history of corporate records – giving citizens the information they need to determine the standing of a business before entering into contracts and agreements.
Charity Search
The secretary of state is responsible for regulating charities and enforcing the Charitable Funds Act, which protects citizens from predatory organizations. The Charity Search tool enables the public to research charitable organizations through an interactive platform, making annual solicitation filings and information on distribution of funds open and accessible.
Angel Investment Tax Credit
Recently passed legislation making state tax credits available to angel investors dictates that startups seeking to qualify for investor funds apply to the South Carolina secretary of state. The tax credit was designed to jump-start high-growth industries operating in our state by incentivizing qualified investors. Business applications available through the office regulate the types of startup companies eligible to benefit from investments made through the tax credit program.
Other Initiatives
Other initiatives spearheaded by the secretary of state include student grant applications that provide tax credits offsetting the cost of private education for special-needs students. Further, pending constitutional referendums and legislative considerations propose the legalization and regulation of charitable raffles as well as the reorganization of state elections.
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The Marchant Company is a locally owned real estate firm that has provided comprehensive residential and commercial services to the Upstate for over 20 years. Their Quarterly Executive Breakfast Series provides business and civic leaders timely real estate updates and insights on key issues affecting the regional business climate. Here is more information on the Marchant Company and the Executive Breakfast Series.
