Hints On How To Figure Out Whether Company Formation Is Right For Your Personality

Posted by DavidStone27 on July 1, 2011 under Online | Be the First to Comment

Company formation is also known as company registration. It is a process where an individual or group applies for a connection towards a newly formed company. You should know that millions of individuals and groups are interested in setting up a company but only a few are granted an approval. This is because the process can be very complicated for other and they fail to meet every requirement that the law impose for them to be qualified. This is one of the main reasons why a lot of interested applicants tend to hire someone to do the registration for them. There are even some who are having problems right from the start where the requirements seem to be so hard for them to comply not to mention the fact that time is not on their side. To save you from unnecessary confusions regarding company formations, here are required steps that you are bound to make.

Paper process

The propose company should provide some requirements for it to be qualified. This will certainly include their objectives, proposed operation site and many more. This should not be taken lightly because it can severely affect the possible outcome of the application that is why precautions should be made to ensure that everything is correct. If you are planning to put up a promising company, start it right and give a good impression to the panel that will decide whether your proposed company is worthy of approval. The Companies Act of 2006 states that this step is a necessity so don’t even think of any way to go over it.

Articles about the company

This refers to the rules that are required for managing the internal affairs of a company. Some standards are used in UK company formations and it has been quite effective in giving possible results. Although it is not stated in the law, it is best for you to tag on with what has been known as right. A qualified witness is needed as the registrar will be signed by the corresponding individuals mentioned to be a part of the proposed company.

Form IN01

UK company formations are also required to submit the intended location of their registered office. These locations are only limited to Northern Island, Wales or Scotland or England and Wales. A complete list of those who will gain the positions in the company should also be included in the submission and the completeness of such lost must be assured. This will only mean that even the lowest up to the highest positions stated in the company specifications should be stated. Moreover, the submission should also contain all the sources of funds that the company plans to have or is currently having.

Memorandum of Association

To finish, the names and signatures of those who participated in the application and are also involved in the company must be stated as well. There are some companies that are utilized with the use of shares and in this situation, the ones involved mist vow to at least have a single share.

Electronic procedure

Keep in mind that there is no need for you to in such a hustle just to satisfy the requirements stated above because there are some companies who offers assistance with the use of premade applications. Consequently, you can also trace your current application to see its status so that you can act upon the situation as fast as possible. However, this kind of service will not come for free. It might mean some expenses for the individuals who are planning to pot up the company but saving them from complicated works and assuring speed is certainly a good bargain.

How to Choose A Startup Business Name

Posted by David Storey on February 12, 2011 under Business | Be the First to Comment

Not long ago, I setup a company with some friends. Time was not on our side, so whereas setting up the logo, advertising etc. was done in days, the business name was what took us over a month to pick! I couldn’t believe it! I used many free online tools that would combine words together to give you cool sounding company names! Finding a company name that not only hadn’t been taken, but also sounded half decent was very difficult. In fact, I’d say picking the company name is the hardest part of forming a company. Hopefully if you follow these pointers you might avoid the time we did!

Your name should tell customers what you do

New companies come and go with such a such a quick rate, it just goes to show- business is tough. Think therefore, just how important it is for your company to stand out. The company name should tell potential customers, right away what you do. So when you are forming your company, make a list of everything you do. Why not grab a thesaurus? Look at the words that best describe your business and make it look as good a product as possible.

Make sure you keep the name uncomplicated

Company formations aren’t complicated (well not normally!), so neither should the process of choosing the company name. Unless you make up a word, a one word company name is difficult to find that’s unique. Don’t pick more than three words, preferably two. The shorter the name, the less to remember for your customers.

Choose a memorable name

Following on from keeping the company name simple, ensure when you pick a company name, you make it catchy. This is a big part of the success of some of the world’s leading brands. Catchy names stick with customers. Aside from being able to remember the company name, they can remember the name to tell their friends. Think of a customer seeing a TV advert and then remembering the name seven days later. This is what a catchy company name can do.

Check the company name online

Before registering a company name, you’ll need to check it’s available. You won’t be able to register a company name if it isn’t unique. There are plenty UK websites that allow you to perform companies house formation. These websites allow you to first search and check, and then register a company name if it’s free. If you are happy with the company name, it’s time to register. Finally- best of luck with your new business