Preview

How to Start a Company

Powerful Essays
Open Document
Open Document
2481 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
How to Start a Company
13-3-31

Australian Securities and Investments Commission - Starting a company or business

For companies > Starting a company or business

Starting a company

This information sheet sets out the steps involved in starting a company. It covers: deciding if a company structure is right for you choosing a company name deciding how to operate your company understanding your legal obligations as an officeholder getting the consent of those involved in your company registering your company, and understanding your legal obligations regarding your company name, Australian Company Number (ACN) and Australian Business Number (ABN).

How to start a company

Step 1: Decide if a company or a business structure is right for you Step 2: Choose a company name Step 3: Decide how to operate your company Step 4: Understand your legal obligations as an officeholder Step 5: Get consent from officeholders, members and occupiers Step 6: Register your company Step 7: Understand your legal obligations regarding your company name, ACN and ABN Step 8: Order a commemorative record of registration (optional) Where can I get more information?

Step 1: Decide if a company or a business structure is right for you You need to decide if a company or a business structure best suits your needs. We recommend that you seek legal or other professional advice about your circumstances. At this stage you should also make sure you understand what your legal obligations will be if you become a company officeholder: see 'Step 4: Understand your legal obligations as an officeholder' below. When we register an Australian company, the company can conduct business throughout Australia without needing to register in individual states and territories. Please note that registering a business name is not the same as registering a company. Registration or use of a business name does not: create a legal entity (only registering a company creates a legal entity), or

You May Also Find These Documents Helpful

  • Good Essays

    As my ownership is a sole-trader I would have to make sure I have the correct advice and support needed to start-up such as having; an accountant, a financial advisor and web designer. If I did not have these set out the consequences would be that my business wouldn’t be organised and ready and important things such as having a reliable and a sensible price for insurance, mortgages, pensions and investing wouldn’t be sorted as I wouldn’t know much about having to do things like this as this would my first time in setting up my own business. Therefore advice and support is vital. I would have to ensure that I paid all my staff at least the minimum wage because otherwise this would be breaking the law of the national minimum wage act. The consequences for this can be very serious which will have to be taken to court and I may be heavily fined or even jailed for a period…

    • 552 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    First, please draft Sandra's certificate of incorporation. You may obtain a template from which to do so by searching the internet for one. You may use a form from any state you choose, though we recommend using one from your home state.…

    • 304 Words
    • 1 Page
    Satisfactory Essays
  • Powerful Essays

    Unit 201 Nvq

    • 656 Words
    • 3 Pages

    You will need to supply copies of your Company Registration and UTR documents, Liability Insurance and if applicable VAT Registration document. You will also need to ensure you send us invoices on a weekly basis and supply the following details; |Bank/Building Society Name: | |Branch: | |Sort Code: | |Account Number: | |Building Society Role Number: | |Account Name: | I declare that all the information provided in this form is correct and that is my responsibility to inform ITS of any changes: |Signature: | |Print Name: | |Date: | For office use only Consultant: Office:…

    • 656 Words
    • 3 Pages
    Powerful Essays
  • Satisfactory Essays

    Res 351 Week 1

    • 881 Words
    • 4 Pages

    One of the first considerations in establishing a business is to determine the type of business organization to select. You should study and analyze the advantages and disadvantages of each as well as the legal and tax considerations before a final decision is made. A brief description of the four common business organizations is listed below.…

    • 881 Words
    • 4 Pages
    Satisfactory Essays
  • Satisfactory Essays

    One has to make sure that the right to use the chosen business name by checking with the appropriate…

    • 2039 Words
    • 9 Pages
    Satisfactory Essays
  • Powerful Essays

    P4 & M2

    • 4018 Words
    • 17 Pages

    For this task I have been asked to describe the legal and financial aspects that will affect start-up of the business…

    • 4018 Words
    • 17 Pages
    Powerful Essays
  • Satisfactory Essays

    Sba Study Guide

    • 541 Words
    • 3 Pages

    | Steps for establishing a business:(a) conceptualization(b) research (market probe)(c) identification of resources (d) creation of a business plan(e) acquisition of funds(f) operation of the business…

    • 541 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    John Owner, thank you for seeking advice on starting a business and wanting to know the disadvantages and advantages of starting a business. It is very important in researching the different types of businesses and creating a plan for success. Starting a business can be tough but also can be very rewarding. In setting up a business there are three main structures a person can start: Sole Proprietorship, Partnership or a Corporation. Each business structure has its advantages and disadvantages that I will address.…

    • 708 Words
    • 2 Pages
    Good Essays
  • Good Essays

    Bounce Fitness

    • 745 Words
    • 3 Pages

    The business is operated on best business practice and complies with all legislative requirements, local by-laws and is registered with the national body.…

    • 745 Words
    • 3 Pages
    Good Essays
  • Better Essays

    Business Entities Paper

    • 1119 Words
    • 4 Pages

    When starting a business it is important to choose the correct type of entity that will allow it to be successful. Upon choosing the best entity for the business there are different rules and regulations that need to be followed including issues from liability to taxation. Starting a business requires some research on licensing, state laws, and regulations. Opening a business requires choosing an entity, taking control, taxation methods, and liability issues. The most common types of business forms are sole proprietorship, partnership, corporation, and S corporation. Each type of business has its advantages and disadvantages when related to obtaining a start to a business, tax information, and liability.…

    • 1119 Words
    • 4 Pages
    Better Essays
  • Satisfactory Essays

    Our services are aimed at facilitating international premium brands in leveraging the India opportunity. Our expertise in understanding the premium segment in India, business practices and rules reduces the entry risk and compresses the time period for profitability.…

    • 360 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Service Station

    • 7389 Words
    • 30 Pages

    Starting your own business is a rewarding and challenging career option. However, be mindful that many (50-80 per cent) new businesses fail in their first three years of operation because of poor planning and management. The 7 Steps to Business Success guide can help you assess whether your business will be a success. Listed below is an overview of the 7 Steps to Business Success. You can access the complete version online at www.business.qld.gov.au/7steps. Alternatively, you might like to answer a number of simple questions and receive feedback on your 'business readiness' by…

    • 7389 Words
    • 30 Pages
    Satisfactory Essays
  • Good Essays

    Registration Procedure 1. Business may be registered using personal name or using a trade name. a) The business name using personal name as stated in the identity card is not required to apply for business name. Example: Ruslan bin Mohamed, Siow Ah Thai or, Ramasamy a/l Mutusamy b) Trade Name is the name of the proposed business and must obtain prior approval from the Registrar of Business. Example: Kedai Dobi Mewah, Lucky Star Catering or, ABS Unggul Enterprise. 2. Complete the Business Registration Form (Form A) with the following information : a) Business name b) Commencement date of business c) Principal place of business…

    • 582 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Business Startup

    • 2479 Words
    • 10 Pages

    Find out what starting and running your own business really involves. There are excellent websites that offer free advice to start ups, including Business Link, Start Up Donut, Smarta and Startups.co.uk. Other sources of advice include your local enterprise agency and your bank. The best way to learn is from those who’ve ‘been there and done it’, so seek tips from other small-business owners. Some people use the services of an accountant when setting up a company, which can help to ensure tax efficiency. As well as taking care of returns, accounts and tax-related administration, usually for a monthly fee, a good accountant will provide sound advice.…

    • 2479 Words
    • 10 Pages
    Good Essays
  • Good Essays

    File Articles of Incorporation, this legalizes the entity and provides valuable information about the cooperative including its name, location, capital structure, purpose, names of the incorporators and length of operation. This is submitted to the local registrar of companies for approval.…

    • 408 Words
    • 2 Pages
    Good Essays

Related Topics