One of the main factors to be considered when starting a business is the registration. The business is first registered with the particular state in which it operates. Some registrations are done with the federal government; however, it is only in case you have work with businesses related to tobacco, alcohol, and firearms. Registering the business is a must when it comes to running it legally.
Following are some steps in which you can easily register your business.
- Define a business structure
In case you are serious about your new business registration, you have already chosen a business structure. You need to decide whether the business you will be running is a corporation, a partnership, or a non-profit LLC. In these cases, you will need to register with the local state government. If it is any type of sole proprietorship a legal name is not needed. In these cases preparing a DBA is enough.
- Decide on a name
Next, you will need to decide on a name for your business. It is essential to have a different name from any of the existing companies for registration. You need to browse through the database and decide on the best names you want for your company. Then depending on the state, you need to choose incorporation, inc. or corp. The LLCs may use limited or anything which bears similarity.
- Assemble the required details
There are many information pieces which need to be available for new business registration. The needed information relates to the following.
- An office address registered in the UK
- What the company will be doing and a minimum of one SIC code which describes the activities of the business which are anticipated.
- Filing with the Companies House
After collecting together the information, it needs to be sent to the Companies House for registration approval. There are mainly three different options which charge different fees.
- Filing online through certified software
- Web incorporation through the online house portal of the company.
- Filing the IN01 paper form
- Other miscellaneous details
There are other miscellaneous details that you need to fill out while registering your company. These steps are important for company formation. Some of these steps are:
- Registering for taxes
- Setting up your bank accounts
- Opening a website for online business customers.
- Choosing your company trademark for your business.
After everything is done, you will get your business license. Operating without a business license can be against the law. It is therefore essential that you get a valid license before carrying on with your business. The process is quite easy and does not involve much hassle. However, you need to follow the steps properly.