Simple Steps For Starting Your Own Company

After working for various organization where you gained a lot of experience on how to work in a corporate world, and get a fair amount of knowledge of all the in-out, tricks-turn and ups and downs of running a business you finally decide upon to start your own company. Until now you were being employed by some organization, but you can create employment for other people who are in need.

The first step in starting your own firm, is company registration, which is not at all a daunting task as has been perceived by many people. Now, before you get your company registered, you need to know all the rules and regulations laid down by the government to setup a firm. If, you do not want to face any hiccups in setting up company, you need to fulfill all the company laws laid down by the jurisdiction.

Not following the rules in getting your company registered will only result in money and time being wasted leading to frustration from the very beginning and your momentum will go down.

Company registration can also be done online which is quick and cost saving. In, U.K., to register a company, one needs, to fill the Memorandum and Articles with Association, form 10 and 12. One can skip form 10 if the registration is done online. You can also avail the facility of EbCHeck which can find if your company name is unique or not.

The second primary thing that need to be considered is the evaluation of the funds. Proper analysis is to be made keeping in mind the money that will be absorbed in setup versus the amount of funds that are available with you.


Company registration process understood its now time to give your new born company a name. Choosing a company is quite an easy as well as a tricky task, as your company name should reflect what your company stands for, it should be catchy which can be easily remembered. Deciding upon the company name should be done keeping in mind as to how you want your company to be looked at by the people. While deciding on the company name, it should also be kept in mind that it does not resemble with the name of the company that already exists.

After giving your company a name, deciding about the business objectives and visions, and country or state where you want to set up your firm you choose a structure of you business. You can choose from a list of various structure that have already been employed by various companies. To name a few: Public Limited Company(PLC), Private Company Limited by shares, Company limited by guarantee, unlimited company, Limited Liability partnership(LLP) and Limited partnership(LP). The most preferred form of company registration, which is taken, by the majority of entrepreneurs worldwide, is Limited Liability Company. It is effected by the jurisdiction.

If as per the requirement of the Jurisdiction your company needs to have a registered office, you should make your office at a place where it is highly visible to your target market and your clients. Office should be made at a place where people can reach comfortably, and there is no commuting problem either. Other things of concern are the rent of the place may be the office you like is in the thick of business center but, you cant afford the cost of the place, number of competition that is there in the area. If it is a small business then you may keep the office at home in the initial stages and as the business grows you may move out.

After doing all the hard work its time now to decide the management team and hierarchy of the company also the number of shares that you be allocating to them. The decision upon the body of the company's director will be governed by the company laws framed by the jurisdiction of that country or state.

From Author:

Setting up your own company involves lot of hard work in the beginning but if done in an orderly mannnar it will pay you in the long run. So company registration being the first step in doing that.