Beginning a company is just about everybody?s total dream. There?s nothing like the liberty and money rewards managing a business brings. Nonetheless running a company is not for everybody. If you are planning to start one, here are a few factors you've got to take into consideration:
1. Determine if a company is undeniably the right business structure for you.
Find out the advantages and disadvantages of operating as a sole owner, a partnership, and a limited company. A company has its own benefits and disadvantages different from the benefits and disadvantages that come with a proprietorship or partnership, so it would be a good idea if you sit right down and weigh them fastidiously prior to making a last decision.
2. Come up with a business name.
Settle on a company name that properly embodies your business? Goals. You can name your business anything you like as long as it doesn't sound offensive or conveys criminal activity. Your firm name also should be unique; meaning no other business in Australia should have the same precise or same-sounding name. To find out whether an existing company is utilizing the name you want, you may visit the site: National Names Index, which lists all businesses registered in Australia.
3. Register your company.
There are a couple of paths to do this: one is to complete a Form 201 (the form utilized for Application for registration as an Australian company) and mail it directly to the ASIC (Australian Instruments and Investments Commission) office, and the other one is to avail of company registration services offered by third party organisations on the internet.
Availing of such services is the easiest way to go for individuals who've yet no idea on how to register a corporation. Such services are run by individuals or organizations that have ties with the ASIC. It?s a hassle-free way to have your company registered.
4. Make sure that you receive your Certificate of Registration.
Before you launch your business into full operation, ensure you already have with you your Certificate of Registration from ASIC. Along with this certificate should be your 8-digit ACN or your unique Australian Company Number. Keep your ACN secure as this is the number you use to access critical information online, for example company details, records, lodge forms, and yearly statements.
It used to be that registering a company was such a pain to entrepreneurs, but now that the process has been made fully simple and problem-free, there is no excuse of not having your business registered with the ASIC.
1. Determine if a company is undeniably the right business structure for you.
Find out the advantages and disadvantages of operating as a sole owner, a partnership, and a limited company. A company has its own benefits and disadvantages different from the benefits and disadvantages that come with a proprietorship or partnership, so it would be a good idea if you sit right down and weigh them fastidiously prior to making a last decision.
2. Come up with a business name.
Settle on a company name that properly embodies your business? Goals. You can name your business anything you like as long as it doesn't sound offensive or conveys criminal activity. Your firm name also should be unique; meaning no other business in Australia should have the same precise or same-sounding name. To find out whether an existing company is utilizing the name you want, you may visit the site: National Names Index, which lists all businesses registered in Australia.
3. Register your company.
There are a couple of paths to do this: one is to complete a Form 201 (the form utilized for Application for registration as an Australian company) and mail it directly to the ASIC (Australian Instruments and Investments Commission) office, and the other one is to avail of company registration services offered by third party organisations on the internet.
Availing of such services is the easiest way to go for individuals who've yet no idea on how to register a corporation. Such services are run by individuals or organizations that have ties with the ASIC. It?s a hassle-free way to have your company registered.
4. Make sure that you receive your Certificate of Registration.
Before you launch your business into full operation, ensure you already have with you your Certificate of Registration from ASIC. Along with this certificate should be your 8-digit ACN or your unique Australian Company Number. Keep your ACN secure as this is the number you use to access critical information online, for example company details, records, lodge forms, and yearly statements.
It used to be that registering a company was such a pain to entrepreneurs, but now that the process has been made fully simple and problem-free, there is no excuse of not having your business registered with the ASIC.
About the Author:
George Henderson writes for Allan's Off the Shelf, an online business specializing in company formation services. When choosing to register a company, seek the help of Allan's Off the Shelf.
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