Steps To Forming a Company

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Steps To Forming a Company
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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.

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Company formation
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