Business registration is perhaps the most volatile and fragile step towards ensuring that your business is in order. The Memorandum and Articles must be filled up correctly and scaled according to the future perspective of how the business would run. While it sounds easy, it is not so. In fact, extrapolating future vision, mission and financial intricacies is easier said than done and therefore it shall be actuated accordingly. While the journey from an entrepreneur to a successful businessman is long, the business registrations process tees it up for future success. And it is therefore important to be articulate, prepared and transparent in the registration process. Here are 4 important things to consider in the business process –
- Business Structure – Perhaps the most important thing to think about is the nature of the business one’s organization is running on. If it’s a small venture run by one executive, then it could be deemed as a sole proprietorship. Similarly, an increase in size could end up promoting the business as a partnership with distributive stakes based on the commitment actuated. Finally, a joint stock company could also be initiated based on the intent of expanding through the direction of a board and shareholders as their primary stakeholders. There are peculiar selections like that of Limited Liability Partnership and Limited Liability Company to consider as well.
- Business Name – The second most important step is to consider the name of the business. The name of the organization cannot be taken which has already been taken before. It can be vulgar or obscene and finally it cannot be against the integrity of the country. Deciding and finding its availability is one of the toughest tasks in the business registration process. https://www.a1corp.com.sg/ is the perfect website which consults entrepreneurs and organizations consistently regarding the logic, phonetics, use and availability of Business names.
- Registered Address – The business address is extremely significant when it comes to registering a business. The choice of the address is to be such that it is easily accessible to the owners so that all documents and communication provided by the government is sent there. A1 company registration services in Singapore essentially enable small businesses to get registered easily and advises small businesses regarding these small intricacies which matter a lot in the long run. Intricacies such as – for an office space, the Urban Redevelopment Authority must approve it. If the office address is the home address, then the housing development board must approve it under the Home Office scheme. A fee is charged for the authorization.
- Business Licenses – There are certain business which need business licenses authorized by the Accounting and Corporate Regulatory Authority (ACRA). In order the familiarize with the business licenses process and the kind of licenses accorded, companies can visit A1 virtual office on the A1 company website which is a competent business registration pioneer. Different types of businesses require different types of licenses, for example a restaurant will require food license. This is precisely why one requires a consultant for such business intricacies.