Company Registration for your New Business
English: Business Plan Presentation at FSG 2009 (Photo credit: Wikipedia)
More and more people are deciding to start their own business these days. The economic conditions have forced many people out of work, or their pay has been frozen or their hours cut. Many of these people have significant talents and they are choosing to use these to work for themselves. There has been a considerable increase in online businesses as they are relatively easy and inexpensive to set up. Of course, there are also entrepreneurs with a unique idea which they want to develop.
If you are considering your own business, remember that all businesses are common in that they must work towards company registration. This is the final stage whereby a business is legally incorporated and permitted to start trading. These days, this process is usually achieved by using an online company formations organisation and these companies can be easily researched. It is vital to study the various websites in order to select the best one for your business needs. Features to look for include:
- An established and well respected company offering a range of pre- and post-registration services
- A variety of formation package options to suit all types and size of business
- An easy to navigate website which provides detailed information about the registration process, a comprehensive FAQ section and customer feedback
- The ability to ask questions and obtain guidance, especially if this is your first business start-up
- Offering the full range of business structures and advice about which one is best suited for your particular business
- Same day registration at a competitive price.
Of course, you must ensure that you have completed all your preparations for start-up. These can take some time, but it is crucial to the future success of your business that you get everything right. You must have a clear vision of your business model, what you are aiming to achieve and how you plan to get there. Include financial forecasts and a concise executive summary. A positive and credible business plan is essential, and a well thought out and written one will keep you on the right track into the future. If you need some guidance, there is a lot of information and advice on the internet.
Carry out extensive market research in order to gauge the viability of your products or services in your target market. Be prepared to modify your ideas if you need to, according to the results of your research. Marketing your business is vital, and an appealing and effective website is a good start. Use the power of social media and other advertising media to get your name and products out there.
You must also ensure you obtain any funding you need for the first few months. There are various small business loans and grants which you may be eligible to apply for. Your business plan can help you secure a bank loan or attract other investors.
Business premises and staff can be a real drain on resources, especially in the early months when profits can be eaten up by costs. If you need these resources, you must plan your finances accordingly.
The company registration process is fairly straightforward once you have all the necessary information. After the mandatory forms are completed, the company will submit them to Companies House for authorisation and incorporation. You will receive notification of successful company registration by email, together with your Certificate of Incorporation, Memorandum and Articles of Association and Share Certificates for your shareholders. These documents are your confirmation that the business is now a legally registered company. You are then entitled to start trading and set in motion your vision of running your own successful business.
Author Bio
The following post was brought to you by John Harkin from Company Formations 247. As a UK Based Company Formation Agent, they offer assistance with registering a new company at Companies House and also provide a variety of business support services.
Category: Business
