Discover How to Register a New Company

If you want to know what the steps are that are required to start a new company then you have come to the right place. It can be simple but you have to know what to do.

Before you register a company you need to do a little research to make sure it is set up right. You have to make a few decisions, then collect the appropriate information, and last but not least register.

No worries though, we can lead you right through all of this and once you have determined who is involved in your company and the structure it can take as little as a couple of minutes to have your company registered.

The first thing to do is relax. Now, do you have a business name in mind? Before completing the form if you can make sure you check to see that the name you want is available (or get your registering agent to do this for you).

If you do not have a name in mind, take some time to think about it. You should incorporate professionalism and the services or products you will be offering into your name. Make your name memorable, relevant and easy to remember (you do not want customers having to guess what it is you do).

Once you have a name you need to decide on the structure of your company.

Do you want to be liable for your company; if so how liable do you want to be. Do you want to work with others that will be owners or directors in your company, and if so do you know who or how you want to operate the company? These are very important questions you have to answer in order to begin the registration process. You should take most of your time preparing to register to focus on the structure of your company and how you will operate it (if you are unsure please consult with your lawyer or accountant).

You will have a few choices with the structure that will determine your protection and liability with the company, and then you will have the choice of how to operate. For the operation you can decide if you want to go by constitution, replaceable rules, or a combination of both of these.

When you have all the information you can simply complete the registration forms.

You will need the names, addresses, dates of birth and city of birth of every person who will have a vested interest in the company.

This would be the owners, the directors and secretaries. You will also need the names and dates of birth of the share holders, as well as how many shares each person will start with. In addition to this you need to have the mailing address and the physical address of the proposed company.

After you have all of this information gathered and you wish to register the company yourself through ASIC you can grab the form 201 off the Internet and begin to register your new company. All of the instructions are included on the last 2 pages of the form as well as other documents you will need the fee to register. The address to send in your registration is available as well.

Or to take the hassle out of trying to register your company yourself as well as the time consuming element of doing so use a Registered Agent you can find them on the internet by searching for company formation companies or search for phrases like register a company.

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Started a New Company – Here Are 7 Steps You Have to Do Now

There is a lot to do when you start a new company. First you have to register through either ASIC directly or one of their agents. Once you have your Certificate of registration (which can happen within 30 minutes) you can start to do other things as well. You will receiver your ACN either via fax or email within 30 minutes of registration (sometimes this may take longer if there is a hold up with ASIC), and once you do you can start using it.

Apply for an ABN number: Even if you become a company you still need and ABN (below is an extract from ASIC’s website):

ABN = Australian Business Number This is a new number for business dealings with the ATO (Australian Tax Office) and in future, with government agencies at all levels. An ABN is needed to register for GST and other elements of the New Tax System.

So it is essential that all companies apply for one. You can apply either by completing the order form that is provided when you purchase the complete company register or online at their website (Google ASIC).

Get Your Domain Name:

In today’s day and age it is important to have a website in fact I would go as far to say you are “playing” if you do not plan on having one and fast. Websites are now very affordable and can be set up for as little as a few hundred dollars. And for the power of what the internet can offer it is a great marketing tool.

You will need to get a relevant domain name (this is the address that you will send people to for your website) It is a good idea to have the domain name closely linked to what it is you do. Example: Company Name: Hair Excellence Web: hairexcellence.com If you cannot get that exact match play around to get as close as possible.

If you are looking to have a world wide business then utilize a.com domain name but if you are mainly dealing in Australia go for a.com.au as people will relate to you being an Australian Business.

Set Up A Website:

This is quite simple these days and there are a lot of good companies offering services, you can even build your own very easily without having to know anything about coding. If you are a client of Companies Now and would like any information on them or other alternatives then please give us a call and we will happily point you in the right direction.

Open A Bank Account:

You must open a bank account to start operating. It would be wise to go to a local bank and get a business checking account as well as some kind of savings account. With the business accounts you will be able to set up payments to your own personal bank account and to your employee’s accounts too. You will use this for directly depositing pay checks etc. You will also be able to sign up for debit cards to your accounts. You can take the names of people you want to have access to your account with you. These people might need to sign something so be prepared for that.

You will need to supply the bank with the following: -Company Certificate Of Registration -Company ABN (some banks may not require) -Your Identification

Need To Raise Capital?

You can also start getting funding for your company too. You might need a lot of start up capital, or you might need some capital to continue projects you have had in mind. Either way you will find it easier to raise capital when you are a company. You can also start getting credit in the company’s name. It might take some time to get the credit considering you just became a company but it is possible to start soon.

Need Staff?

With all your new company information ready to go and your registration valid you can start to hire people to work for your company. Make sure you have some kind of idea how many people you need to get started. You will also decide if you want part timers or full timers to work for you.

If you only want part timers you may not have to pay for benefits that you would with full timers.

With that all in order you can choose an opening day. This is the day people can use to help you advertise by encouraging visitors to come on the first day of business. Keep in mind that this usually means some kind of sale on your products or services. This step is highly recommended so that your clients will get to know who you are and what you do.

Marketing:

I believe this to be the most crucial part of your business and an aspect that you should not leave to chance. It will determine the success of your business so make sure you become a serious marketer of your company. I cannot over estimate the importance of this as it will be the difference between your new business becoming a great success to the typical story of business start ups.

As you can see the registration of your business is only the beginning for your new company. By keeping track of everything you do and what you want to do you will indeed be able to get started on the track to success.

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New Company Name Ideas

The best way I can help you find New Company Name Ideas is to actually give you a real life example. The purpose of this is to get your train of thought veering in the right direction. It really isn’t as hard as you might think. I am going to share a few simple techniques that anyone can follow in order to achieve the perfect new company name.

Firstly, you will need a dictionary, (one with a thesaurus). The reason you need a thesaurus is because you will be looking for synonyms. In case your not sure what ‘synonyms’ are, they are words that are ‘similar’.

I am going to use a ‘Book Shop’ as an example for our New Company Name Ideas. Now ‘The Book Shop’ would be a bit boring and not very memorable, and it’s more than likely already been taken, so how can we improve on this boring name and give it an exciting twist that will stand the test of time?

Start by looking up ‘Book’ in the dictionary. The description is as follows; ‘bound set of printed or blank pages; a literacy composition of fact or fiction’.

Underneath, as I read down the page, we have ‘Book Case’, Book Club’, ‘Book End’, Book Mark’, ‘Book Man’, ‘Book Stall’, ‘Book Worm’ and my favourite ‘Bookish’ which means fond of reading.

Any one of these names would make a great New Company Name, but don’t stop there. Explore some more into related words that we uncovered when we searched our base word ‘Book’. By continually looking up related words, you can generate a quality targeted list and move words and phrases around until you come up with some great new company name ideas.

The next place we are going to look is on the internet. The internet is not just for finding a local plumber and paying your bills on, there are a whole host of tools that are available to you, and are totally free of charge.

The best tool I know about is the ‘Google Keyword Selector Tool’. It allows you to type in a main keyword, and then generates a list of related keywords. You can compile a great list of new company name ideas just by entering different related keywords, then play around with those keywords.

Company name Ideas are often triggered visually, so use resources that are all around you. Phone directories, yellow pages, local newspapers, magazines etc. Open your mind to ideas and they will come from everywhere.

A couple of things to remember are; pick a name that will grow with your company. It’s no good being ‘Kettle Mania’ if you are going to be selling toasters and other electrical goods later on. You will need to choose a generic name that covers all electrical items, not just kettles.

Make sure the name is some what memorable. Dave’s Cafe just doesn’t quite cut it! Check that you are the only one with that name. Get it registered and be official. The last thing you want is to be sued before you even start!

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