Company Incorporation Tips

Approximately 300,000 companies are set up in the United Kingdom each year. April 2010 saw 32,146 companies being incorporated. The UK has room for every entrepreneurial ambition to take flight. The laws of the land supports company incorporation and the political stability of the country facilitates rapid growth. However, there are certain essentials to be kept in mind before starting a new business.

Company Incorporation: Important Considerations

The following are some vital tips and requisites for company incorporation:

Type of company: There are four types of companies. Therefore, before registering your company name, you have to decide on the type of company you want to register. The types are:

• Private company limited by shares

• Private company limited by guarantee

• Private unlimited company

• Public limited company
  

There are Community Interest companies or CICs, which can be registered either as private or public businesses.

Appoint officers and secretaries: Company incorporation first requires the appointment of director/s and a secretary (optional). Private companies have to appoint a director but do not compulsorily require a secretary. An officer of another company can double as the director of a new company but for registration purposes, the new company requires an individual director. Public company necessitates two directors and a secretary.

Decide the company’s name: It is vital that you the name you choose for your company is unique and relevant to the scope of work. Uniqueness is of great importance, since Companies House will not accept those names that are either identical or remotely connected to some other company. This rule is applicable to both sole traders and partnerships. Before filling up the documents for registration:

• cross check the names of companies already registered at the official website of Companies House (www.companieshouse.gov.uk);

• check the UK Intellectual Property Office Trade Marks Register to make sure that the company name decided upon does not violate any existing trademark;

• check the Company and Business Names Regulations 2009 to ensure you have used the appropriate characters and punctuations;

• seek prior approval in case the name implies even an indirect association with Her Majesty’s Government, or a devolved administration, any local authority or any specific official body
  

You can do all of this on you own or simply handover the responsibilities to areputed agency. CompanyFormations247.co.uk is one of the most preferred namesin the industry. They have created a name for themselves because of their expertise as well as the packages that make company incorporation hassle-free and cost-effective.