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Dont get lost when forming a company

Steps to avoid getting lost when creating a new company

Starting a firm is not only about having a good business idea. It is a process that can take more than a month and a bureaucratic ordeal involving very small print.

A brilliant idea or just an original approach to something that already exists is the seed of a new company. But to germinate and take reality, it must meet a list of requirements and procedures. The process of incorporation of a company is a difficult task, not because of its complexity, but by hard work.

Estimates state that the average standard procedures for this time are 19 days. However, in practice these procedures are dilated and, in general, entrepreneurs take over 47 days to create their company.

To avoid getting lost in this bureaucratic ordeal, you should know what steps to take.

Before embarking on the implementation of a business, you must define the activity that is to be developed, the overall and long-term planning, risk assessment, market research … that is, encompassing all aspects of the business plan.

It is essential to know the legal rules on which you develop your business, because in many cases, determining the form in which you create the company can make or break it from the off. Also keep tabs on the number of partners involved in the initiative, which could lead you into a corporation, or a joint partnership.

The next step is to apply for the certificate of the company name in the commercial register. It is advisable to include a list of five names in case one is already registered. The procedure can be done for online and is very affordable.

The bank certificate is the document certifying that it has been deposited in a financial institution’s capital to found the company. This contribution may also include the valuation of goods such as computer equipment, production machines, and so on.

The notary certificate is the name and bank deposit document and you can go to the notary to sign the deed of constitution; a process that takes at least a week.

With scripts in hand, the next step is to place the document in the commercial register. It is a process that accumulates many complaints and expands over time because they know some of the new activities that generate entrepreneurs and can not be catalogued in traditional ways.

To do this you must go with the simple deed of incorporation of the firm and fill out the relevant form. This document is the high census declaration that regulates your relationship with this organisation and determines the taxes that you may require for the performance of your company.

After these procedures, you can begin to have economic activity. But before starting the business venture, you must also make the payment of tax on economic activities.

Your accounts with the Inland Revenue

Becoming an entrepreneur also means that individuals who have created the corporation must manage its corresponding registration in the register of self-employed. To do this you must go to the tax office with ID, complete a form and define the activity to be performed. The latter explained is mandatory and essential, because it is what defines our tax cost.

On the other hand, you also have to go to facilitate personal and activity data in the form of a signature, to indicate to the bank account for direct debit fees, which will be proportional to the price

Your Virtual Office London provides business to business services (b2b) on an impressive scale. We have helped many thousands of businesses form companies and have helped provide them with leading accounting solutions. Not only do we provide company formation services we actually provide a virtual office solution which can really help boost your businesses productivity. Our services provide a great return on investment; they are designed to help your new business come across more professional and established. Our registered office address service, director`s service address and mail forwarding service in London help improve your corporate image.

If you would like to speak to us about our services please do call us today 0207 566 3939.

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