Before Your Business Incorporation, What?/How do I get Ready To Incorporate My Business
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Many of you ask questions like:
- What is the meaning of ‘incorporation’?
- What is the difference between incorporation and ordinary enterprise?
- How is a limited liability company registered?
- Who does the registration of the company?
- Which government office registers companies?
- How do I start an incorporated business?
- How much does it cost to incorporate my business?
- Before Your Business Incorporation, What?/How do I get Ready To Incorporate My Business
- Also, how can Complete Full Marks Consultants Limited help me register my company?
My promise is that this post will answer all of these questions and set you in motion for the registration of your own company today.
To start with, an incorporated/registered company, or corporation, is a registered business entity of a separate legal identity from the person or people forming it. The Directors and other officers purchase shares in the business and have responsibility for its operation.
As a matter of fact, Incorporation limits your liability in case of a lawsuit. That is to say that your liability at any time is limited only to the level of your shareholding in the organization, unlike in a non-incorporated organization like sole trade or partnership where your liability is not limited. In fact, in this case, your private properties are not spared. Before Your Business Incorporation, What?/How do I get Ready To Incorporate My Business
Therefore, to start the process of incorporating, contact www.completefmc.com via [email protected]. Ask for instructions, forms, and fee schedules on business incorporation.
How Prepared Are You to Register Your Company?
You need to ask yourself several questions, such as:
(g) Do I have enough network to drive this business?
- What type of services do I render?
- What industry does it belong to?
- Do I possess any special potential for the services?
- What category of professionals are involved?
- Who are my target clients?
- How do I measure my services?
- How do I cost my services?
- Before Your Business Incorporation, What?/How do I get Ready To Incorporate My Business
- And others.
Before Your Business Incorporation, What?/How do I get Ready To Incorporate My Business
(2) Then do the following:
- . What do you know about yourself?
- What are your interests in starting a business?
- Is it to make money, or to serve clients and by that create value for them and for yourself or some other reasons?
- Are you the type that like pleasure instead of hard work? A clear goal setting will do you so much good
- Do you possess any training, skill, talent, or any industry experience in the business?
- Have you been mentored in the business?
- Read more about Before Your Business Incorporation, What?/How do I get Ready To Incorporate My Business
- Limited liability company,
- Public Limited Liability Company
- Sole Trader, Partnership,
- NGO etc.
This will help in your asset and liability management. It also has tax implications.
- What is the name of your business?
- Who and who are the registered directors, partners or shareholders?
- What is their shareholding?
- Get ready certain information about your company/business,
- Company Registered Address.
- Business Address ( if different),
- Phone number,
- Fax and Email details
Please, ensure that most information you give here is permanent for a while. This is because making changes in incorporated documents sometimes cost more than registering new one. But remember that if you discard an old company for more hundred thousand Naira and replace it with a new one, you lose your company history, profile, and others. Here, old age pays. Then, read more about Before Your Business Incorporation, What?/How do I get Ready To Incorporate My Business
Before Your Business Incorporation, What?/How do I get Ready To Incorporate My Business
- Environmental – business location Vs social, economic and political factors.
- Marketing strategy
- Market Share
- The Industry
- Competition
- Value chain analysis – both Demand side and supply side
- Technology
- Legal
- Manufacturing unit cost of production
- Turnover – break-even analysis
This is another area you have to be ready with. Generally, sources of funding include:
- Personal Savings
- Assistance from friends and family members
- Grants from Free Government money or other NGOs,
- Debt funding ( Loan)
- Equity funding ( by investors who must have part equity ownership of the business)
- Credit facilities ( this is not always available in the beginning, it is always a strategy for working capital management)
This again, is another area of importance. You have to define your management team properly. This exercise may take into consideration some of the following:
- .Policy design – governance controls including internal control policies.
- Recruitment of qualified staff with relevant profiles in working experience and emotional competencies.
- Training of staff,
- Design of appropriate salary structure and other conditions of service,
- Office automation and a good internal control system
- Good Office accommodation,
- A good administration and accounting department – with a good record system that separates your private activities from business activities.
- Others Etc.
Also before Your Business Incorporation, What?/How do I get Ready To Incorporate My Business
Now Register /Incorporate Your Business:
As a matter of fact, Our Services cover services ranging from Accounting & Auditing, Taxation – annual tax filings and obtaining your tax clearance certificates, Corporate services – CAC documentation/company and business name registrations, Management services – writing business plans, business proposals, business coaching, Capacity building training, seminars, workshops, etc. obtaining mining license to other licenses for clients.
Contact us if you have need of us., via,
e-mail: [email protected]
Phone: +234 8034347851, +234 8097900795
Website: www.completefmc.com
Deacon Anekperechi Nworgu, a seasoned economist who transitioned into a chartered accountant, auditor, tax practitioner, and business consultant, brings with him a wealth of industry expertise spanning over 37 years.
