Business registration can help turn business ideas into profit and potential business. Thousands of entrepreneurs get new ideas every day on how to make money or start a business, but it takes considerable effort to turn these ideas into reality.
Business registration is the first step towards forming a business. This is the process under which an entrepreneur can legally establish, conduct and manage a business.
Steps to complete business registration
Before obtaining a business registration certificate, an entrepreneur must decide on the business structure of the proposed company. One may choose to establish a private limited company, a limited company, a limited liability company, or register a branch of a foreign corporation. In the UK, a company can be established as a private limited or a public limited.
When determining the nature and business structure of the company, an entrepreneur must identify and decide on the name of the company. Any name may be used unless deemed inappropriate by the Registrar. Some words such as Bank, Building Society, British, National, International, Group, Holdings, and Chambers may be rejected. Also, any words that imply a connection to Parliament, the Queen, or the royal family may not be appropriate. A name that already exists cannot be chosen for the registration of another company.
In the UK, all companies must be registered under the Companies Act 1985, which is overseen and administered by the Companies Register. A company that aims to obtain a business registration certificate must formulate the Memorandum and Articles of Association. These documents generally describe the rules and regulations that form the legal basis for the company’s conduct with third parties, shareholders and directors.
In general, the articles of incorporation must include the names and details of the company’s registered office, as well as the objects and responsibilities. Remember, the internal affairs of a company are governed by the statutes.
In summary, an entrepreneur can apply for business registration upon completion of the following:
– Company structure.
– Company Name.
– Registered office.
– Model 12 indicating compliance with the Corporations Law.
It should be noted that the business registration application is complete only when it is supported by all the necessary documents and the required registration fee.
A highly experienced, dynamic and versatile team at Company Formations 24.7 guides entrepreneurs to make their dreams come true, providing comprehensive and personalized services for company formation and registration.