Business Formationby Rahul Raheja manager
With the boom of the self employed person and internet businesses, creating a business should be made accessible and easy for all!
We here at Business Formation provide one of the best services in the USA for business and company creation. Using an electronic filing system which cuts time and stress from the process we are able to set up a business for you within hours. We will assign you your own personal company formation agent during the course of proceedings.
One of our more prominant features is offering premade businesses for purchase. What is special about this is not only do you lose the worry of brain storming a company name, but also provides your business with an early incorporation date. How does 3 to 5 years early sound...? We all know the older a business is the more respected it is. So with thanks to premade businesses, the preverbial foot is already within the preverbial door.
There are multiple benefits in favour of forming a limited (Ltd) company. The most prominent being 'Limited Liability'. Most businesses which operate as Sole Traders or most Partnerships have the downside that, should they fail, the directors assests are bound within the company and Creditors are able to claim this. With a limited company, this is not the case. Only the companies property and/or assests can be taken. Another appealing factor is that directors and shareholders have no personal liability to the company whatsoever (unless the company failed due to their own malpractise and/or misconduct). There are also no restrictions on the pursuit of forming another company.
Tax concessions are also available to limited companies compared to that of other varieties which have tax divided amongst the partners. Profits in all businesses are entitled to taxation, but with limited companies this tax is subject to a lower rate. Normal personal allowances against income are also available for Directors to claim.
Limited companies also carry the benefit that they are identical. No two are allowed the same name! This is greatly favoured over Sole Traders and Partnerships which, unfortunately, are unable to assure your business name is unique.
Ownership of limited companies is easily distinguishable also which eases the the proceedures of valuing, buying and selling the business. Owners are listed along with their percentage share of the company they own. These shares are easily transferable via selling or simply by giving away. Company variants such as Sole Traders suffer in this field as, when an owner dies, so does the business. Limited companies however are simply registered over to a new Director or Secretary.
With this all in mind, it should lift all burden of choosing which variety of company / business is for you.
Stock Company... Shelf Company... Premade Business... These are all terms used for a ready made company.
Purchasing premade businesses takes away the hastle, hardship and frustration of deciding upon a company name and can even supply you with a name you wouldn't of even thought of! Purchasing premade businessess also enable you to choose the incorporation date of the company, something which is fairly impossible to do when you want to have your company appear it is a few years old and start right away.
Older businesses are typically more respected and excepted. So why try and raise a company from the bottom rung when you already half way up the ladder.
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Created on Sep 16th 2019 04:59. Viewed 62 times.