Steps To Forming a Company - PowerPoint PPT Presentation

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Steps To Forming a Company

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Company formation is the process of registering a business as a limited company at Companies House. As a result, the business becomes a distinct legal entity. The process is also referred to as 'company incorporation' and 'company registration'. – PowerPoint PPT presentation

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Title: Steps To Forming a Company


1
Steps To Forming a Company
2
Secure your company name
  • The first thing to do is make sure you have
    secured the name you want for your business,
    which you can check in the online name search
    function.
  • Some people choose to do this even before theyve
    decided what kind of business they want to run,
    to ensure theres no chance their name is taken.

3
Choose what kind of business to run
  • If youre not sure about the type of business you
    want, its best to pick something you already
    know something about, or something that you can
    learn.
  • If you are good at baking you might be thinking
    about setting up in a small shop selling cakes
    and pastries.
  • Or, you might be working from home supplying
    cakes for special occasions.

4
Select your premises
  • Where will your company headquarters be? A
    business that is run from home can be more
    flexible than if you have physical premises to
    travel to.
  • A shop will need to be staffed all day, so you
    might have to employ staff if you dont want to
    work through all of its opening hours.

5
Set a budget
  • Once you have worked out what you are going to do
    and where you will be working from, you can plan
    your budget.
  • Dont forget to include tax and insurance
    payments, rent, utilities, hire or purchase of
    equipment and local authority payments.
  • You should also put some money towards marketing,
    research and building a website for your company
    formation.

6
Choose a company structure
  • Are you going into business with someone else, or
    are you setting up by yourself? If you have a
    partner, you can set up a partnership if not,
    make sure you register a limited company if you
    want to protect your personal finances.
  • Beaumont company Formations can give you all the
    help and advice you need about what type of
    business to choose.

7
Do your research
  • Before you start up your business it is important
    you do some research.
  • Find out where your customers will come from.
  • Are you planning to work locally or do you supply
    a service which means you can travel around the
    nearby area? Once you have this information, you
    should find out if people would be interested in
    your product or service, how much they would be
    prepared to pay for it and youre your
    competition is like.

8
Write a business plan
  • At this stage, you have decided what type of
    company formation and all your research is in
    place.
  • Now you need to think about finance.
  • If you require a loan for your business then a
    business plan is essential.
  • A plan will also help you see things more clearly
    in black and white and highlight any issues you
    may have forgotten to consider.

9
Website
  • Once you have the finance to start the ball
    rolling, youre ready to make a start.
  • The first thing to do is register your limited
    company, which you can do easily online through
    Beaumont Formations trusted application.
  • Your website can be built and a logo designed for
    your company formation.
  • This will help customers to find you when they
    search for you online and recognize your brand
    when they see the logo.

10
Company formation
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