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Registering a company - when is the right time?
The entrepreneurial spirit is alive and well with the month of September marking the end of the summer and the push into autumn – it’s no wonder people are keen to start registering a company.
But if you’ve got a great idea for a business and want to march on towards the end of the year with a flourishing young start up – when do you actually register? It’s difficult to get it right, but the timing of registering a company is important – because that’s what gives you your real start.
You have many questions when starting a business, obviously, but timing is important. Let’s explore a little bit more about how to get it right.
So, when is the right time for registering a company?
It’s easy to get carried away with the excitement of a new business idea, but the time for calm is needed after the dust settles and you start the nitty-gritty of actually starting the business. You might think when registering a company that a ‘the sooner the better’ approach would be appropriate. But it can be wise to wait.
Think about the following before registering a company, this will enable you to determine whether you are properly ready to do so:
- Your Business & Marketing Plan – There is little point in starting a business without a solid business plan in place. This serves as a guide for your activities as a company, without one you could find yourself awash in a sea of possibilities and not really know what to do. So if it’s not a sound plan, then it’s probably not the best time to start a company just yet.
- Your Employment & Time – Are you ready to start right away if business boomed? If you’re still currently employed then you may find that you’re too busy to really dedicate any time to your project. If you do have time, or you’re starting without current employment, then you could be ready to commit – but registering a company when you’re not ready or have no time to commit to it is a bad idea. So be sure!
- Your Budget – Starting a business and growing it takes a bit of investment, thus you should make sure all of that is in place before you start trading. This means you will not only be financially ready, but have much more of a chance of strong growth and stability once you’ve started. Budgets need to be balanced once you start trading, but also before you start.
If you’ve thought about the above points and have any reservations, then you’re probably best off waiting a little before registering a company. But who knows, you may very well be ready to go right away.
What Are My Options?
Well if you’re ready you can quite easily begin registering a company in just 3 working hours, this means you can start trading right away. But there are many other options if you’re not sure.
The options include:
- Dormant Company – You might not be ready, however if you’ve got a great idea and company name planned you can always register a company to start trading later – this guarantees your company name is reserved. You can quite easily register a company name in advance and make yourself officially ‘on the books’ – but without trading.
- Start Right Away – You can start right away if you’re ready. It’s very simple, just choose one of our company formation packages and enter a company name to get started in just 4 steps. You can form your company within 3 business hours and then it’s over to you.
- Waiting – If you’re not ready, then the best option is waiting. There are numerous things you can do in the meantime to prepare yourself. One of the best things you can do is get yourself ready with the skills you will need to succeed by attending business training courses on digital skills like social media. You can also create a business website so you’re ready for a strong launch.
There are a range of options available, whether you’re ready to form your company or not. It’s all about making the most appropriate choice, so make sure you take the proper time to be certain and assess each option – there’s no sense in rushing.
Registering A Company – Whenever You’re Ready
The great thing about registering a company with us is that we’re here to provide that service whenever you’re ready. So, whenever you’re ready – choose a company name and start trading with your new business.