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Beginning and working a business can be simple in the United Kingdom. Then again, the smallest missteps can complicate the whole process. Individuals wishing to form a company are regularly uninformed of the methods and wind up committing errors that are highly consequential.For instance, some create an organisation limited by shares when they really needed to create on limited by guarantee; others may issue all shares of the organisation in the starting stage itself when they can actually offer just a couple. To keep away from such mix-ups that are monotonous and too difficult to undo, you can decide to employ the services of company formation agents.The real procedure of registering an organisation can be finished within a period of 3 hours after the submission of application. Be that as it may, there are a few stages involved in this:

• Selecting a name for the company – The intended name of the organisation can be looked up via the internet to determine availability. Individuals purchasing an existing organisation can likewise change the name of the obtained organisation to the fancied name if available.
• Registered office – All business within the UK are expected to own a registered office address where all notices from Companies House, HMRC and other document pertaining to the company can be delivered to. This doesn't need to be your physical address where you work, but it is publically available so a virtual address is often preferred.

Immediately you submit your application online, and make the necessary payment through a safe framework, a receipt is created and affirmation sent. The points of interest of the new organisation created are sent via email and duplicates of reports, for example, Certificate of Incorporation, Certificate of Non-trading, Articles and Memorandum of Association and Minutes of the initially meeting held will be sent via a top post.

• Bank Account – It is compulsory that a bank account be opened for all transactions.
• Insurance and Tax registration - every business is mandate to register for national insurance, VAT and corporation tax as well as pay the taxes as at when due.

Finance and accounts – All organizations in the United Kingdom are to keep up appropriate record books and document annual returns to Companies House within a predetermined period, upon a fault at this, a punishment must be paid. It is advisable to hire an accountant to oversee all these paperwork. If you can’t afford it, financial service firms can do it for you.

• Staff – Employing the right employee is critical to implement the planned exercises proficiently and precisely.
• Website – If the organisation has a site, then all points of interest, for example, organisation number, official office location, contact information like, email, phone number etc must be shown.

What is a holding company?

This is a kind of business that particularly has to do with investments, resources and administration, as opposed to offering goods and services with a perspective to gain profits from production and sales. A holding organisation will be restricted by shares and its fundamental exercises will include owning resources in another organization (or numerous organisations) for example, real property, intellectual property and shares. Beside these capacities, a holding organisation has no other kind of business activity.Subsidiaries refer to other firms in which resources are held. In the United Kingdom, the company where over 50 percent of assets are held is called the ‘parent’ of these subsidiaries.Contents:

• The legal requirements of a holding company

So as to become a holding company, the Companies Act 2006 (sec. 1159) noted that an organization will be viewed as the subsidiary of a holding organization in these circumstances:

• More than half of the voting rights in the subsidiary.
• The directors of the subsidiary can be removed or replaced by parent company.
• In agreement with the shareholders, the parent company is a member of the subsidiary and it controls a greater part of the voting rights in the subsidiary.
• Tax liabilities of a holding company

A major attraction of this sort of organization is the potential for saving taxes – majority of the dividends and share disposals are free from taxation. On the off chance that a holding organization claims a 'significant shareholding' of no less than 10 percent of the ordinary shares in a subsidiary for twelve successive months amid a two-year period before the transfer, the holding organization can discard these shares without any tax obligation, however, it is mandatory that such holding company and its subsidiary be active for 12 months before and after the disposal.A holding company may also be free from tax obligations if it majorly carries out functions such as:

• Disposing of shareholdings in subsidiaries.
• Defending itself and its subsidiaries from takeovers.
• Receiving dividend payments from these shareholdings.
• The acquisition of shares in subsidiaries.

HMRC doesn’t see these activities as 'taxable '; along these lines, any holding organization that works with these fundamental capacities alone won't be required to pay for VAT. It is impractical for this kind of holding organisation to intentionally enlist for VAT; on the other hand, if the holding company gives, or means to give, taxable supplies to a subsidiary, it will be allowed to deliberately enrol for VAT. Necessary VAT enrolment will apply if the yearly taxable income surpasses £82,000 (2015-16).

• Can I use the word ‘holding’ in a company name?

Modifications were done on January 31st 2015 to the guidelines for business and company names. The word "holding(s)" is no more thought to be 'sensitive'; as a result, you may use this word to register an organisation name.

• How do I register a holding company?

A holding company can be set up in the very same manner as some other privately owned business limited by shares – you should legitimately join it with Companies House and stick to strict statutory recording prerequisites. Your Company Formations provides a variety of formation bundles online for enlisting an organisation limited by shares in only three hours. To register another organization on the web, you will need to give the accompanying data:

• Name of Company
• Official office address
• Details of at least one director
• Details of at least one shareholder
• Articles and Memorandum of association
• Share capital – details of issued shares
• Documents to support the use of certain sensitive words in the company name

You would electronically submit your application form to the Companies House. If everything is properly done, your new organisation will be enlisted in just 3 hours and a confirmation will be sent to you via email along with digital documents to affirm the incorporation of your company.

You can leave the competition in the dust with a good strategy!This then allows you to expand your business. The keys to growing your business are to always keep your customers happy, and to add value to your product offerings and services. To begin, implement the following points:

1.Perspective

Spend time outside the company, look at what you're doing right, and where you can improve. Perform a SWOT analysis (strengths, weaknesses, opportunities and threats) to find new ideas and methods to move your company forward.

2. Reviews

Accept the opinions of other people involved in your business. While it is important that entrepreneurs and managers make their own decisions and actions, it is just as important to have the opinions and ideas of others, both internally and externally. You can get valuable information after talking to the production people that are constantly involved in your business. Your employees and suppliers can be a great source of ideas and contacts, so make sure you take into account their contributions.

3. Mentors

As an entrepreneur, you need a support system to share and discuss new business opportunities or potential problems. It is important that you find and develop a relationship with a business mentor to accompany you during the ups and downs that come with owning a business. Of course, it's not easy to find time to meet with a mentor in the endless cycle of urgency in your business. But for help, you have to commit your own time and energy to meet with your mentor. Think of it like exercise, in the end you’ll be glad about the decision and will feel energised when you finish.

4. Equipment

One of the biggest challenges of the leaders in a business is to build a high performance team. Successful businesses have strong processes of selection interviews to hire staff to ensure only the right people. People have a load of initial cost, and it takes time to develop before they are really productive. To compose a winning team, you must integrate your team members, creating synergy and getting the best of each, in order to overcome the desired results. As the owner of your business you need to think carefully about the type of person you want to attract to your business and establish a recruitment strategy.

5. Customers

Consumers are getting smarter today. Mostly driven by the web, buying habits have changed in recent years. E-commerce ensures customers are well informed and this makes them more demanding. It is essential to understand how the virtual world impacts your business and it serves advantage. It is essential that you monitor how your customers arrive to ensure that you meet your needs.

6. Offer

All products have a life cycle and know when you need to renew your product. Not all companies diversify their product offerings significantly, but those who keep their products a specialised focus, keep your business updated, constantly developing and evolving. To diversify supply and add new product lines and services must invest in market research. Discusses what opportunities are available in the market and how you can excel against the competition.

7. Honesty

The business is about people and relationships with customers. As old values ​​such as trust, loyalty and transparency are appreciated more than ever before. People like to deal with people. One of the most important characteristics of a successful business is honesty. If you say you will do something, you must comply. Sometimes you must also say "no" but if you have valid reasons people will understand.

8. Social Media

To attract and engage the fans and followers of social media (and always consider converting them into customers) you have to have an effective plan. These are some basic steps to follow for your company on social networks.

Adapt the content to each platform

Certain types of content generally perform better than others in certain social platforms. For example, Facebook, Pinterest, Google+ and Instagram are substantially visual, so striking images of your products, company events and perhaps "snapshots behind the scenes" of employees in the workplace can be effective options for those specific platforms. Text-only updates in the “status” section on Facebook without bonds or links also works, especially when questions are asked.On Twitter you have to find the balance to send tweets about your business and do retweet others, including messages from your partners and industry influencers. LinkedIn is popular to share company news, tips and articles productivity leadership.It is advisable to shuffle a diverse mix of content types (photos, featured clips, tips, links and questions of interest, etc.) through your social platforms to keep things fresh. You will see that when you do, your fans will come back for more.

Consider including the following technological solutions in your current Business Plan:

• Check out your website.

Analyse if your website is still tailored to the needs of your business. Is it time to move to an "e-commerce" solution that allows you to market your products or services online?

• Update your applications.

Move your spreadsheet accounting Software as a Service (in English Software as a Service, SaaS). The SaaS today best known example is Google Apps, which offers basic business services such as e-mail or MS Office Saas service platform with a designation as Microsoft Office 365, which lets you access the software through the Internet.

• Duplicates and archives.

Make a backup of documents and archive them. This is a more complex process than it seems. If we copy redundant data, storage capacity is exhausted, and if we do not make a backup of sufficient data, you might miss critical information. Among the most popular backup programs are ArcServer, ZendalBackup, Cobian, SECOFI, and NortonGhost.

• Take a stroll through the "Cloud."

You must have heard the various applications that give you the ability to place your files in the "Cloud.” Working with files in the cloud will allow your team to interact with the information from different points as being connected virtually, each of the computers can be in different places around the world. It also stores information that you consider necessary and indispensable. The application iDriveSync, for example, helps you create such virtual drives on your computer and gives you a capacity of up to 2 GB in its free version.

• Allow yourself to discover.

SEO is an acronym for "search engine optimisation.” Hiring an SEO can improve your site's ranking in Google and Yahoo; certain keywords can lead you to the top in just a few months. SEO is part of the "Inbound Marketing", a new tool that makes your business easy to find through search engines like Google, the blogosphere, and social networks. This tool improves your ranking in Google to get more traffic, produces and promotes blogs for your business, and also strengthens your community on Facebook, LinkedIn, and Twitter.

• Turn up your "networking."

It is no secret that blogs, Twitter, Facebook, LinkedIn, and YouTube, among others, are no longer considered only places for entertainment purposes. These tools strengthen your management strategy and the possibility of attracting more potential customers for your business.

• Learn from others.

Search publications and blogs in your industry and subscribe to them via RSS. Interact with relevant experts, including those that can only be partially related. Follow the opinions of business leaders through Twitter. Monitor industry trends through Twilerts and Google Alerts, or make an RSS feed with information relevant to your industry.

• Make every contact sales opportunity.

CRM software (acronym of the English term, "Customer Relationship Management") is a management model based on customer orientation. The main advantage for a company is to increase the information to your customers and prospective customers, allowing the offer to address their wants and needs, thus increasing satisfaction and optimising its life-cycle. Normally, it produces increased sales and reduces the sales cycle.

• It projects the future.

You have to anticipate and respond swiftly and efficiently to market conditions to keep your business from the competition. To achieve this, you need information systems that perform activities flexibly, including all areas of the company, from financial to human resources. Enterprise resource planning allows you to integrate and automate operational activities or productive aspects of your business.

• United we stand.

This consolidates voice, data, web hosting and other computer service provider. Using this, you only pay one bill and contact one supplier with any questions. This will save you time and money.

8 Digital Tools to Help You with Your Business Plan

Many entrepreneurs know that having a good business plan is the key to carrying out their ideas, understanding the viability of their business, and assessing the financial side, among other issues.The Internet has several tools that help you develop a business plan.

Any.do

• Found in iOS and Android
• Free
• Organize and share your business
• Assign tasks and responsibilities lists dates
• Turn words into written text through a microphone

Basecamp

• Found in iOS and Android
• Free and pay
• Keeping track of each cloud archive, meeting and events that you carry out
• Share the project with the team and assign tasks to all members

BIZPLAN

• Found on the Internet
• Available payment
• Software that allows elaboration of your business plan by following simple steps
• Interface includes templates and models that can be edited

Premier Business Plan

• Can be found in iOS
• Available through payment
• Plan objectives
• Define your target and expectations of your company
• Find tips for drawing a marketing plan

Enloop

• Found on the Internet
• Available for free and pay
• Web application that guides users through every step of creating a business plan
• Sales, profit and loss
• Cash flow and balance sheet projections
• Explanatory graphics and other visuals

Evermeeting

• Found in iOS
• Available for free and pay
• Keep track of meetings, classes, conferences and other events in real time
• Record audio and add annotations
• Store data in the cloud

LivePlan

• Found on the Internet
• Available through payment
• A comprehensive tool that puts emphasis on building the financial model of the business
• Provides examples and counselling service a group of experts
• Free version with examples and templates for business plans on the web

Stratpad

• Found in iOS
• Available for free and pay
• Lets you assess the development of your business
• Data and graphs will show income, expenses, sales, product quality and customer satisfaction

These were some of the applications and software that can help you succeed with your business. Have you used any of these applications and tools? Do you know any other digital resource for business plans?

If you started a small business successfully and are looking for a significant increase in the number of customers or the amount of sales, it means you want to grow your business. There are many ways to do this, but choosing the right way to grow depends on the type of business, available resources, and how much money and time you are willing to invest. Check out the 8 strategies that follow.

1. Open another place

If you feel confident that the current point of sale is under control, consider expansion by opening a new location. Increase outlets and you will expand the number of places where you can sell your products. To increase sales points, you can open new stores or branches, make use of new brokers or dealers, or create new sales channels.

2. Offer your business as a franchise

The model franchise is one of the most successful ways to grow a business. Franchising is a way of doing business, through which a third party is given the right to use a trademark and operate a business. This system will allow you to grow without having to manage a new location. This will help you maximize the time you spend looking for new opportunities and improve your business.

3. Granting the license of your product

This can be an effective and low-cost growth, especially if you have a product or service trademark. Licensing is an agreement between a company that allows another use their trademarks, patents, technology and any other valuable properties. In return, you receive fees for sales of the products or services provided or sold under the license. To find a partner interested in your license, start by researching companies that offer products or services similar to yours.

4. Form an alliance or acquire another business

Two is always better than one. Investigate companies that are similar to yours, or that have deals that are complementary to yours, and consider the benefits of combining forces. Aligning with a type similar to yours can be a powerful way to rapidly expand your company. These partnerships could include agreements to combine resources (financial, human, or technological), functions (production processes or product distribution), share information like market knowledge , share distribution channels or outlets, or customers such as in the case of both companies have different types of products, but similar types of customers, and each company can complement each other’s products.

5. Diversify

Diversification is an excellent strategy for growth, since it allows you to have multiple streams of income that can fill in the gaps of the season and increase sales and profit margins. These are some of the most common forms of diversification:

• Sell ​​complementary products or services
• Teaching on the subject in which you are an expert
• Import or export your products or those of others
• Being a speaker or columnist about your business

6. Address other markets or consumers

In your current market, you are doing well. Are there others? Probably. Use your imagination to determine what other markets or consumers could use your product. Addressing new types of consumers means redirecting your products or services so that they are aimed at different types of markets that they are already attending. It may be necessary to create new products or services, or simply adapt products you already have, so they can also meet the needs or desires of other types of consumers.

7. Seek external markets

To export, a distributor is needed in the foreign country so you can take your product and sell it in their domestic market. You can locate foreign distributors to find out if there is any foreign company in your own city or state with a representative in the United States. Another option is to look for customers who purchase from you directly, for it is the easiest way to create a website and promote your products online. Another way to start exporting is participating in international fairs.

8. Increase advertising

Investment in advertising is another way to grow a business that does not require spending much money. Besides making use of brochures, posters, and cards, participate in trade fairs or give gifts printed with your company name. Remember that the best advertising is word of mouth. A product or service of high quality and excellent customer service will ensure you are always recommended by your customers.Consider advertising on the Internet. Often, customers discover business through a search engine on the web. Make sure your company has a presence on the Internet to maximize their exposure.Our virtual office service can also help boost your business presence, our mail forwarding address in London is a great way of boosting your businesses image. Be sure to contact us if you would like to find out more.

With advances in technology, it is becoming increasingly easy to launch an online business from home.You can configure your own website, sell and even receive payments directly from your site. These are the foundations that will help you create your internet business.

Types of companies on the Internet

Almost anything can be sold through the Internet. Many different online businesses from home provide services to other businesses with variables like web design tools or even accounting.A service-based business allows you to get started quickly, without having to invest in inventory. If your goal is to sell items, there are easy ways to do it without having your own shipping department. Companies – like Amazon and Commission Junction allow you to advertise your products on your site. They will only ask for a commission for what they sell. Other websites – like eBay and Etsy – allow you to create a virtual store and handle payments in your name.

Types of Income

Your online business can get different types of income, depending on its purpose. If you sell your services, you can charge clients by the hour or by the service. For example, you can announce a basic web design package for £ 99 or you can charge £ 25 per hour for work on a design. If you sell products, your income will come from the purchase price or, in the case of affiliated companies, commissions. The fees are usually calculated based on a percentage of the selling price of the article.There are several ways to get paid with your online business. Large companies create a payment gateway on their own sites and recorded with major credit card companies to receive payments online. Small businesses often use a service like PayPal or Intuit , to process payments. These facilitators payment charge a percentage of the operation of their services.

Advantages and disadvantages

The biggest advantage of operating an online business is flexibility. You can operate from your home at your convenience, without having to rent an office. It also lets you run the business from your laptop anywhere in the world where there is internet access.If you're not naturally self-disciplined or organized, be weary – running an online business takes dangers. It's easy to put off work late and lose focus on the creation of the company. The success of online businesses is to formalize work schedules and objectives to ensure that the business grow profitably.

Initial Costs

The amount of money you need to start your online business depends on the type of business. All online businesses need some kind of presence on the Internet. This requires that you configure a domain name and a website. Several providers, like Blogger and Weebly, allow you to create a site for free. This is a good option when you're starting. As your business grows, you may need the services of a web designer or programmer to expand your site. You may have to upgrade your computer or office equipment if you have not support or functional. At a minimum, you'll need a fixed computer or laptop with internet connection and a printer to print invoices and other documents.

Base

An online business can be easy to install and can also be profitable. Like any other business, an online business should focus on the basics of dealing with customers and sales in order to succeed.

Start A Business From Home

The big question is: Is it possible to create a profitable business from home with little investment of time and money? The idea of ​​developing a business from home is based on the need to find a source of extra income, possibly in the future can become your main source of income.A profitable business is one where profits exceed 60%, 80% or even 100% or more the value of the investment.So for a business to have the ability to provide a significant source of income, also you require considerable investment. The following steps are to be able to develop profitable business ideas from home that do not require much investment at first.

Identify your reasons

Answer why you want to start your own business is the first thing you should do. Want to be your own boss? Do you want to earn extra money? you not want to depend on schedules? Be careful, for example with your own business you will not have only one boss but every one of your customers will be one of your bosses. And on time, you could end up working more than necessary.

Analyse your personality

Do you have the qualities to own a business? Unfortunately not all have it, luck is however, that these characteristics can be learned. Ask yourself the following questions: Do you have what it takes to be a leader of a business? Do you like making decisions? Do you like racing? Do you have the power of self-discipline?

Acknowledge your skills

It is ideal to start an activity that you like or you highlight and which have some experience in. You will be the one who does the work, and what better to bet on an activity in which you function well and safely, or in which you want to invest time and money to learn.

Define a clear concept

Declare a unique business concept. That is, a business must have spirit, have something unique that makes it what it is. When making a business from home, despite being smaller, the same idea applies. You must define a concept of your business. It is also essential to explain what the business is dedicated. For example, say that there is a company called Artec. What sounds like the name? It could be a business education, technical services or items of art, right? That is, to do business at home, explains below the name of your business what he does. This applies, for example through a slogan.

Assess the business idea

Write on paper brainstorm of those activities that you can perform and which you can consider in your local market or online, depending on the activity. Tantea if your business idea is feasible. Describe the product or service you're selling, if you have competition or not. Analyse your market, assess the needs and desires of your potential consumers. Set the price of your product or service.

Calculate investment

With every activity you wrote do the following: Investment value of materials or costs and the percentage of profitability. For example, investment for the creation or implementation of a product where X is £ 10 and is sold at £ 18, so the yield is 80%. Select only those that have a return equal to or greater than 50% to start working on those profitable businesses from home.

Before making plans

The best advice for starting a business from home, the idea is to plan, strategies, costs, layout, location and prices, before acting hastily and having to slapping of drowning as they are presenting problems. What name you will use, what legal form you will use or bring it to carry your business personally. What licenses and permits you need. How you can protect your business from theft, or fraud you'll protect your business idea, since you may need to register a trademark.This is costly in terms of money, resources and time. Therefore, it is always better to have a business plan, which will indicate whether the business is attractive, if your business is profitable, and what strategies need to take to develop a successful business.

Could you possibly be thinking of establishing a Private organisation, limited by Guarantee? This article addresses the necessary requirements to begin the LLP company.When you are contemplating establishing a firm, it is critical to consider the kind of structure that you pick when you enlist your firm. Without a doubt, Limited by Shares Companies are the most popular type of Company structure known.It offers organisations the opportunity to look more professional and gives the opportunity to have unlimited shareholders.Be that as it may, it is essential to think of the kind of structure that would best suit your kind of business, not what is the most well-known choice. It may be worth weighing the advantages against that of another business structure – this case being a LLP (Limited Liability Partnership).

Definition

The essential meaning of a LLP is a partnership company with at least 2 individuals. Flexible terms of partnership are offered to this business type as well as taxes. It also has its own legal identity thus, if the business were to go bankrupt, the members’ private assets are protected.There are some amazing advantages of registering your firm as an LLP.

The Limited liability of its members

The title is somewhat of a giveaway truly, yet an LLP truly does provide some extremely flexible conditions for its members. This incorporates various distinctive things including:

• Without major hurdles, members can leave when they want.
• The liability of members are limited, hence the firm is a Limited Liability Company.
• By and large, an LLP provides less rigidity in modifying its internal structure.
• This can be extremely helpful as far as setting up rights, obligations and the formula to use when disbursing profits.

Tax Breaks

Members of LLP are not taxed in the same manner as members of other companies.

• LLP individuals are tagged as self-employed. This implies that National Insurance commitments are fundamentally short of what it would be in a Ltd company structure – where shareholders are tagged as “employees”.
• There are more chances to become eligible for Entrepreneurs' Relief as a Limited Company member than there are as a shareholder in organization.
• There is a higher probability of becoming eligible for Business Relief as a member of LLP.

Allocation of profits

As expressed before in this blog, one of the primary advantages of having an LLP is that it gives more room for flexibility which incorporates the way profits are disbursed to all members.

• The accommodating nature of LLP terms enables easy modification of things, as long as all members are in support.
• This also involves the allocation of share capital and profits which is somewhat easy to do.
• Conversely, a customary limited by shares structure is a great deal more inflexible and any huge modifications must be approached in a formal manner and delivered to the Companies House.

It can be useful for particular ventures

Numerous professional organisations structure themselves as an LLP – undoubtedly an extraordinary number of auditing firms, law offices and other professional organisations will form as an LLP. There are unquestionably solid foundations regarding why this is the situation.As indicated by The Brazilian Chamber of Commerce in Great Britain LLP:"is currently utilised for budgetary administrations and fund management business. It can be organized to give the administration obliged, whether close control or free regulation, and specifically it can accommodate the distinctive profit and bonus programs found in these sections"Undoubtedly, some non-profit organisations may think of an LLP plan to be better when they intend to go into a sort of joint business with an outsider. So in the event that you feel that your business may fall into any of these levels then it's definitely worth considering when forming your organisation.

Points to Consider

1. A registered office address should be provided

The registered office address will serve as the official physical location of the establishment and this is where all documents concerning the organization will be delivered to. It must be located within the United Kingdom; however, neither you nor your organization is mandated to have that address as your base – all you are mandated to do is to obtain the permission to use said location from the administrator or owner of the address. The location is usually available on public records and as such, most people prefer not to make use of their home address.

2. Add a director

• The person in charge of the daily activities of the organisation is the director. Companies Limited by Guarantee needs a minimum of one individual to work as the director. For every director of an organisation, the following information has to be provided:
• Name
• Date of birth
• Nationality
• Occupation
• Town of birth
• Colour of Eyes
• Service address – just like a registered office, this would serve as the official address of the director, which could be made public.
• Phone number
• Residential address – not to be publicised

3. Appoint a member

This is similar to a shareholder; however, the term shareholder is not applicable in this case because there are no shares. At least one individual who could also serve as the director is needed. This implies that the company can be established by just a single individual. For every member, the following information is required:

• Name
• Phone number
• Town of birth
• Service address
• Colour of Eyes

4. Appoint a secretary (optional)

If you wish to employ or appoint a secretary, it is acceptable; however, it is not mandatory. If it pleases your company to employ the services of one, the following will be required:

• Name
• Phone number
• Town of birth
• Service address
• Colour of Eyes

5. Upload your own memorandum and articles?

That is it as far as the data that you have to give… unless you decide to upload your articles and memorandum – these refer to the files that state how the organisation is to operate. It's significant that we do of course give our own files that suit the lion's share of companies. The second to the last step in the formation process offers you an opportunity to upload yours.

6. Check over everything

Every data provided by you can be crosschecked in the summary page. If modification(s) are required, select ‘change’ next to the pertinent area. When you’re satisfied with everything, select ‘Submit’ – your request to create a company will then be forwarded to Companies House. At the point, an average of 3 hours is required to form the company after which an email will be sent to you confirming the formationThat is it; all that you have to give to establish a Company Limited by Guarantee. With this, you should be able to start-up your own Limited by Guarantee Company.

Today, telecommuting or flexible work by everyone has increased. With the aid of technology, it experiences more growth by the year. In a study by Regus it was found that there are an estimated 1 billion mobile workers around the world and this year the figure rose to more than 1.2 billion.This growth is due to new technologies that can be found today, allowing us to do virtual work and minimising the need to move every day to a physical office.Furthermore, having a virtual office offers you the advantage of being able to choose from which work can be from home, a cafe, a park etc. But that's not all, since 60% ​​of employers and entrepreneurs believe that the cost of operating a virtual office is reduced by more than 50%.Many companies have found a perfect solution to flexible working to be the ability to take advantage of a virtual office to grow your business, as always at the beginning we want to reduce all unnecessary expenses and save as much as possible because it is not always possible to mount a traditional office. However, when they have changed to a virtual office they tend to find more benefits, such as changing the local address by to a more prestigious one, which brings an improvement in the image of the company.This not only helps to improve the image of your business, it offers a lot more confidence to your customers and will help to attract new contracts, not to mention other economic benefits such as saving cost for a secretary, costs for maintenance, cleaning, electricity, etc. People usually do not take this into account. Operating a physical office yourself and you will realise that the operating cost increases to the clouds.Flexible working and the use of virtual offices is growing day by day all over the world, but the problem we face is the distrust of this new modality, as it is believed to lower productivity, which is totally false, that when a person works from a place that feels comfortable this allows you to have an emotional and work-life balance, which increases productivity.At the time of hire of a virtual office, you must take into account what each business centre offers, and note that some allow you to access any of its facilities, for the instances when you will be travelling to another city. Later in this site, we will be comparing and recommending where you can get a virtual office at low cost and offers great benefits.

Virtual offices are the choice of the future?

Certainly, for many of us starting a venture, affording the physical office is not an option, and in most cases, is not even necessary. Today, many work from home, cafes, squares and other places. That is why we must rethink whether you really need to have a physical space to work.In recent studies, many experts in the field predict that the workplace as we know them today may come to an end. This is because the Internet allows us to work from anywhere in the world.These professionals, small and medium-scale enterprises (SMEs) have decided to leave behind physical work spaces and migrate to virtual offices, providing an business address and valuable office services without the overheads. Meeting with the team now is not difficult since there are means available to be used when necessary such as chats rooms, which allows us to talk to all staff that are not in the same place.The current technological development has encouraged the use of virtual offices to the point that in the UK there are more than 1 million people now work from home and this trend has expanded to more of the world and will continue to grow. A virtual office not only provides you with a physical address, fiscal, a secretary who attends to your call, but also provides a better presentation to your customers, plus it can save a lot of money compared to what it would cost you to maintain a physical office.One of the biggest concerns of people who have not opted for a virtual office is how to adapt the way you work on the internet, especially teamwork. Well that's something simple because we now have many tools for cloud computing, which allows us to work together in real time in the cloud, i.e. via the Internet, Which can generate substantial savings for small, medium and large enterprises.

Telecommuting and virtual offices are the perfect combination for success

In previous articles, we've talked about the benefits of using virtual offices. Today, hundreds of companies and entrepreneurs have opted for this new way of working, and by saying new, I mean in some developing countries, because in places like here in the United Kingdom, some people have been working from home for more than 15 years without the need for an office.Today, we will discuss a combination that may be the key to success for thousands of entrepreneurs, SMEs and independents who want to increase business productivity while lowering operating costs and most importantly, improve the quality of life of people.The new generations have been born in an age where technology, communication, internet and mobility are essential in everyday life, which implies that we will find it difficult to adapt to ever being in one place or to carry out work schedule from 9am to 5pm on a fixed office.That is why we and millions of people support flexible work mode, since this encourages new generations to have a better work performance. In a survey conducted by Regus it was concluded that 81% of companies worldwide offer options to its employees about where and when to work. Furthermore, it was found that 60% believe that telecommuting is much better than the fixed job. 70% say that this approach respects families, and 60% say it helps improve work and family life of employees.But that's not all. Other advantages in the use of telework were also found, as it helps the environment by not using a workspace, as traditionally in the physical offices. It also helps to increase employee productivity and working at their own pace and in a space where they feel comfortable.In conclusion, telecommuting and virtual offices brings great advantages for companies and SMEs, but even more for entrepreneurs who are just starting because it allows them to work from anywhere they want but with the assurance that there will be a receptionist to attend your calls, receive correspondence and of course have a physical address and if necessary, one prosecutor and a much lower cost than a traditional office lease.

Naturally, you put blood, sweat, and tears into running your business, but equal effort is needed when selling. Potential buyers do not come to your business just because you’ve put up a “For Sale” sign. If you plan on selling your business, be proactive by building a business plan that allows for both start-ups and existing businesses. Keep track of your finances, be objective, and act accordingly.

Follow these 10 steps to sell your business and provide a happy return

Have a clear reason to sell your business

If you've spent years building your business, earned millions of pounds, and want to enjoy your retirement, you're probably in a good position to sell. However, if you're in debt, running out of cash, or simply bored with your business, selling is not your only option. It is recommended that business owners also consider the following: to franchise, develop a society, merge with a similar company to go public, or to obtain a partial retirement.

Know your value

The valuation of your business is a difficult but necessary task when you decide to sell. There is no single formula to accurately determine the value of your business. However, do not judge the fairness of the appraisal based on what you think your business is worth. The value is based on criteria that can be quantified, not on personal calculation of the owner. To obtain an unbiased value, ask a third party specialist to make an evaluation.

Start with time

Selling a business takes several months, and that is if everything is in order. A great deal of planning will be involved in the process. Financial documents, such as a balance sheet and income statements, profitability, open lines of credit, and even personal problems affect both the viability of the sale and the price that the organisation will achieve in the market.

Consider hiring an agent

Some owners are reluctant to hire professional agents to facilitate the sale because they want to save 10% of these individual’s transaction fees. What they do not take into account is that the sales agents may add between 10% and 12% to the sale price. While small companies may be sold directly, some brokers have contacts with buyers that could accelerate the sale of your business or can develop a strategy to negotiate the deal. These agents are usually paid once the sale concludes.

Oversee the entire process

Meet the market. Even if you have an agent, it is important to know the recent sale prices of comparable companies. It controls whether your industry or the economy are about to fall or grow. The growth potential is key to potential buyers, who are interested in investing in an emerging market. Once you have a list of qualified buyers, you have to interview with each of them. Your interaction with potential customers will determine if your company sells.

Put your finances in order

You must have at least the last two years of your audited or reviewed financial statements and tax returns for review by the buyer. Update any pending issues with the lenders as if you hide problems or alter projections, this could affect the confidence of potential buyers. A murky financial picture of your business could ruin the agreement. Learn to set a fair price and keep an objective position at all times.

Respect confidentiality

Determine how your customers are affected. If you think you can lose many customers, you may not want to make the sale public, as it could negatively affect the transaction and the relationship with your team. You have to place the sale of your business in the market with strict confidentiality. If you are looking for a direct sale, advertise in local newspapers, business magazines, and guides to creatively market and focus on a defined group of potential customers.

Tailor your business plan

In this case, the business plan will be "your story," where you'll include the finances of your business, sales, industry projections, recent improvements, new opportunities, and other important aspects of your business. Have you had employees for 10 years? That is a useful sales tool.

Remain in business while preparing the sale

There is no reason to lower the blinds on your business without having secured financing. Take the opportunity to add value to the business. If you have rusty equipment, change it. Sell assets that do not generate income. Do what you need to increase the financial attractiveness of your assets. Selling your business can be an incentive to push harder in the last moments of the operation, which could increase sales, profits, and the selling price.

Transition plans

Many owners are focused on selling and neglect the process of transition that will happen after the deal. Some buyers insist that the former owner remain there for some time to participate in the ownership and management transition.

A few years ago, if we would have said that a company could operate and succeed in the market without investing large amounts of money in infrastructure and equipment, possibly very few people would have believed and accepted the idea. But today, in an increasingly globalised world, this statement, grouped under the term virtual offices, imposes hard and is greeted by multiple organisations in various parts of the world.Not having a physical place to work today is not an impediment to undertake, as forms of work have changed and with them the methods of doing business. It was almost unthinkable before starting a project without a place as a hub. It is now a reality due to virtual offices.These places are not just physical work spaces with an excellent image; the entrepreneur also offers basic services are in an office, such as water, electricity, telephone, and Internet, as well as providing a tax direction and sometimes even a receptionist, which will be responsible for answering calls and receive correspondence addressed to the company. Benefits differ according to the package contract.

What exactly is a virtual office?

In the "world office," the need for efficiency in space, time, and cost lead to large and small companies to wondering what percentage of the work day that the office is unoccupied. As employees spend more time outside it, in meetings and attending to customers, can you get better results? If your answers to these questions lead you to reconsider the use of his office, then why spend so much on an underutilised space?More and more employees achieve recognition based on their productivity and good results, not by the hours they spend in your office. Companies live an evolutionary process that leads to greater awareness of the changing market needs. This evolution allows the establishment of new vistas of work.The concept of a virtual office that provides business centres best describes the model of mobile office. This redefines user productivity by providing dynamic and flexible spaces. It also it offers comprehensive support services and a platform for operational and administrative support in order to help clients develop their business plans and avoid high operating costs.This term virtual office was born thanks to a style of working life influenced by a growing wave of independent economy. It is the ideal model for professionals looking to start or grow their business, offering practical solutions to national and multinational corporations requiring workspaces for employees and representatives, without the undesirable costs.At present, employees set their individual needs and work according to their methodologies, thus operating efficiently to get the desired results. A virtual office makes available a new scheme of work and responds to the needs of a global market that is constantly changing.Users of virtual offices are witnessing an evolving market that allows them to leverage a new concept of effectiveness and productivity.When we talk about this term, we refer to a virtual space in which happens similar actions to those made in a physical or conventional office, such as customer service and implementation of meetings and conferences, but at much less cost.This is because the use of a virtual office removes the risk of a higher payment for an installation, as each worker carries out his or her activities from home or from anywhere they can connect to the network without losing time in traffic jams and without suffering damages from climate change.But the benefits of virtual offices do not end there. A company that makes use of this form of work accomplishes:

• Increase productivity
• Reduced interruptions
• Manages flexible schedules
• Provides comfort to employees
• Contributes socially by providing employment opportunities for people with disabilities or difficulty moving around, elders, and heads of household

Are there disadvantages to working in virtual offices?

As in any form of work, there are points on which care should be taken not to create disadvantages:Mood of workers: Combat the sense of isolation and decay by providing support and feedback.Teamwork: It is essential to reinforce the importance of group actions and remember that the actions of one member of the company affect all others.Forms of communication: Although the Internet is the functional basis, it is necessary to have different ways to communicate if it were to be a flaw in the system.

Why use a virtual office?

Virtual offices are a service that adapts to all types of business. Most companies that offer virtual offices provide services tailored to meet individual needs.The very nature of virtual offices makes them equally attractive for both one-person businesses operating from home and multinational companies trying to make a place in an emerging market.Using a company that offers virtual offices, like many other services, depends on the needs of your business. You may not want to answer calls in general, or maybe just need a service call when it is not in the office. Moreover, you may need a service charge of communication of the company in general.

The Ideal Option for Starting a Business

Working at home is not the only option. A virtual office gives us a phone number, physical address, virtual support network management, and messaging boardroom. Flexible virtual offices are ideal for those who start small businesses or independent professionals who want to lower their costs and project a better image.This service sector presents sustained growth in the last decade. However, many people are still unaware of the virtual office concept and are losing the opportunity to leverage the immense advantages that are within reach.It`s predicted that the following trends will continue in the short term:The outsourcing boom: 25% of SMEs use external services (outsourcing) to reduce costs, optimise resources, and find solutions.Telecommuting: It virtualises and decentralized production of work, thanks to new technologies.Digital natives dominate the world: They have a new concept of culture and the use of technology, and there will be a massive impact when this generation enters the labour market.In the world there are various associations that have long been in charge of bringing together representatives of the main virtual, flexible, and shared offices sector, mainly the GWA (Global Workspace Association) based in the United States, and the BCA (Business Center Association) in Great Britain.

Why not simply use an answering machine?

It is true that a simple and inexpensive answering machine can record messages, but research shows that people tend to respond intuitively to the human voice. Many people simply hang up when they encounter an answering machine, and that contact or potential business could be lost forever. It is not only losing contact; encountering a human voice on the phone keeps the image of your company and assures its customers that it is legitimate, accessible and your call means a lot.

Virtual Receptionists

As if it were your own receptionist, the service can go further. Those important calls can be forwarded to mobile, while we can easily get rid of telemarketers and market studies if desired. Companies offering virtual offices can also initiate a phone order, help attract new customers, and increase sales, all for a fraction of the cost of a regular secretary.

Profitability

Moreover, the services provided by a virtual office will offer companies the opportunity to experiment with new projects or short-term operations where necessary and will temporarily increase resources office. Registering with the services offered by a virtual office is much cheaper and less risky than investing in new employees and equipment, especially if the project is not working.

Dissolving your limited company is the only way you can legitimately relocate your company outside the UK. In this case, the country where yo wish to relocate to must have your company registered in all it relevant records.An alternative will be to use the name of the existing company to open register a company in another company. This is legal because both companies are part of the same group. It will only take time and money, but it is achievable.However, it is good to know that neither of these is required for you to continue trading with your existing UK firm outside the UK because the operations of your company can be done wherever you like. As a matter of fact, at any location in the world, a company based in the UK can transact its business.This occurs more often with larger organizations with branch offices, hotels and shops in different countries. This is of high benefit to those company owners who wish to relocate but do not want to lose close down an established business with high client base. It is also useful for people who do not wish to restart the rigours of establishing a new firm and growing it.

Tax treatment of UK company trading overseas

If your firm starts doing business outside the UK, there will be tax implications.In reality, any office of an organization with its initial or head office in the UK will be regarded as an extension of UK trade. This implies that there will be some tax implications for your business:

• Every firm registered in the UK is mandated to pay 20% corporation tax on every gains and profits generated in the UK and beyond.
• Trade activities outside the UK can result in taxable presence in said place if you posses a permanent business facility there or you are concluding contracts at the moment in a country where you reside permanently. If this is the case, you have to register your firm with the appropriate authorities in said country.
• When profits are taxed both overseas and in the UK, double taxation relief is offered.
• This relief however, is dependent on the amount of UK tax on your profits made outside the UK.
• Losses made on trade outside the UK could be relieved against the profits made in the UK.
• As regards plants and machinery bought outside the UK, the UK capital allowances are made available.

Tax treatment of non-UK resident directors and shareholdersThere will be tax implications for income received from your company if you spend 183 days or more in a tax year outside the UK:

• If you are a director, you will still be employed because the company is still a UK registered company.
• A personal tax will have to be paid for every income received from while working in the UK, even if it is just a board meeting; but, the tax free personal allowance of £10,600 (2015-16) is still accessible by you.
• Your firm will still have to be registered for PAYE if you are still obliged to pay National Insurance and personal tax in the UK.
• On every income received from the UK, you may still be required to pay National Insurance Contributions.
• If your country of permanent residence has a double taxation agreement` with the UK, you will be able to claim tax relief on your income received from the UK.
• Asides the notional 10% tax credit, you will not be required to pay any further tax on dividends receives on shares in a UK company as a permanent non-resident. This is as a result of the fact that the company would have already paid the corporation tax on the money. Under normal circumstances, the money you can receive and keep is the net sum of the issued dividend sum.
• If you are liable for income tax in the UK, a self assessment tax return will still be required of you to be filed stating your dividend income. You have to report it even though you won`t be taxed on it.

Am I a UK resident or non-UK resident?The amount of time you spend in the UK during a tax year will determine if you will be liable for UK tax on foreign income.The amount of time spent within the UK during a tax year (6th – 5th April) determines your status as a UK resident.

• Automatically UK resident:

If you spend 183 days or more in the UK within the tax year.Your only home is located in the UK – you are required to have lived in a your own or rented apartment in the UK for at least 91 days. It is also required of you to spend at least 30 days there within the tax year.

• Automatically non-resident:

If you stay in the UK for a period shorter than 16 days; however, if you have not be classified as a resident of the UK in the last 3 years, you will not be classified as a resident if you spend less than 46 days on your current stay.If your full time work is outside the UK (minimum of 35 hours/week) a period shorter than 92 days is spent in the UK an out of which not up to 31 days are spent working.At you initial travel outside the UK, a split-year treatment will be adopted for you. The first will be non-resident while the second will be resident. Based on the time you spent in the UK during the tax year, the UK tax on foreign income is what you will be liable for. This will directly be applied via PAYE when your Self-Assessment tax return is filed.