When you first decide to form a business, the decisions can be overwhelming. One of these decisions involves whether you should do all of the work for registering your company yourself or hire a company formation agent. There are some things with regards to your business that you must do yourself. For instance, you will need to determine what your company’s name will be and what you will be doing with regards to trading. However, a company formation agent can help you with all other tasks associated with getting your business started. You simply have to determine if you want the assistance of a company formation agent or if you prefer a more do it yourself type of company formation.
If you are familiar with the process, you can submit your own company registration application to Companies House. There are certain steps that you must remember to take and you have to ensure that everything is included that is required. These are not difficult tasks to do but you have to be certain that you have an idea of what must be done in order to register your company properly. You have to have the right information on hand and you must submit the proper forms. Remember to have your company name, company address and at least one director and shareholder for the application.
There are other things that you will need which include your memorandum of association, articles of association, statement of capital and various other documentation. If you are unsure of what these documents are or how to draft them, you may want to consider using a company formation agent to assist you in this process. One of the main disadvantages of filing these documents for yourself is that you risk errors, particularly if you are unfamiliar with the process. Errors could get your application rejected, which would lengthen your time to get started.
Using a formation agent offers a number of benefits, not the least of which is experience. Company formation agents have done this many times so there is very little risk of error, which means that your application is virtually guaranteed to be accepted and you can begin trading quickly. A company formation agent can also shorten the turnaround time for the application process, so you can receive your certificate of incorporation much faster, typically within just a few hours after filing.
Most companies can be incorporated on the same day that their applications are submitted, even if there are errors that need to be corrected. A formation agent can help you by submitting your application online as well as helping you to properly choose your company structure, assign the right offices and help you to draft important documents like your articles of association. Often, the fees for using a company formation agent work out to be about the same as filing with Companies House yourself, so if you feel that you are not ready to tackle this task on your own, it may be in your company’s best interest to hire a company formation agent for your registration.