Budding business owners may be overwhelmed by the plethora of papers and processes involved in starting a new company. However, using established company formations teams has a number of benefits to make the journey of setting up a company that much easier. And to help you set up your new company, take note of these five reasons for using a company formation agent to help your business launch and grow.
Company Formations Agents Save You Time
An established company formations team is able to save you valuable time during set-up. Time is the perennial all-important commodity for business owners, and when company formations teams can help you save an abundance of time for your set-up, it’s little surprise why choosing a company formation team is the way to go.
Company formations teams will process applications in the quickest possible time; in fact, their USP is to help business owners form a company swiftly and accurately! Company formations teams handle the many admin processes that would normally be dealt with by Companies House, thereby enabling a more rapid formations process.
Company Formations Agents Save You Money
Established and experienced company formations teams will provide a number of company formations packages to suit your needs. Invariably, you’ll find a package that suits your budget and business. Company formations teams charge far less than, for instance, an external accountant (whose rates can easily exceed £300) or even going through Companies House directly.
Company Formations Agents Have a Simple Online Application
If you register a company by yourself without the assistance of a company formations team, then you will have to fill out Companies House form IN01 (online or via post, depending on the type of company you set up). Not only is this quite an extensive form, it’s fairly time-consuming and consists of jargon that may be unfamiliar for new business owners.
However, business owners who use company formations agents have to fill out a simple online application form that takes a mere few minutes. It’s jargon-free and the team will always be at hand to answer any questions and help you complete the form.
Company Formations Agents Handle Any Type of Business Set-up
Company formations agents offer a number of incorporation packages permitting a number of different online registrations, including:
- Private company with multiple share classes
- Company with altered or bespoke articles
- Limited liability partnership (LLP)
- Company limited by guarantee
- Charity company
- Right to Manage (RTM) company
The above types of company registrations will not be available if you choose to register a company yourself via Companies House as they only permit the online incorporation of limited by shares companies with ordinary shares and Model articles of association.
To form another type of company, issue multiple share classes, or adopt altered or bespoke articles, you must incorporate your company via post using Companies House form IN01. It takes at least 8-10 days for postal applications to be processed and approved. And it’s worth remembering, Companies House fees are more expensive than those of company formations teams.
Company Formations Agents Protect Your Application
This simply means that when you have filled out the easy online application form, your company formation agent will meticulously review the details you have provided by checking spelling mistakes, missing information, irregularities, and any other potential application-hindrance. Companies House may reject erroneous applications.
Once the formations team reviews your “pre-submission” information, experienced team members will finalise your application on Companies House form IN01 and then submit it to the registrar for approval. It will be electronically filed — the quickest way to deliver and safeguard sensitive information.
Using the services of a company formations team will not only speed up your application and save you time and money, but you’ll also benefit from additional services, including help with setting up a business account, registered office and service address facilities, business telephone services, VAT registration, preparation of your confirmation statement and other vital document filing needs that are essential for the running of a healthy business.
Importantly, after you incorporate your company, your company formations agent will be available to help you complete on-going filing requirements and assist with managing your business successfully.
For more information about how you can register your company, contact our dedicated and experienced company formations team, today.