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The wrong moves when forming a company

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We are an accounting firm that assists its clients with numerous subjects, including starting up, planning and record keeping. Ours is one of the leading businesses working in new company formations Stoke Newington has. Whenever someone comes to us asking for help, we give them all the support they need. We work alongside them to get their operations up and running.

Something people don’t realise about starting a new company is that mistakes are common. What’s worse is that some are easily avoidable. The following are things you don’t want to do if you intend to be successful.

The value of a name

Don’t neglect to check whether the company name you want is appropriate. Countless words out there are either restricted or sensitive. Companies House safeguards particular words. You’re only permitted to use them in certain instances. Make sure that your prospective name is fitting and also suitable.

An excessive number of directors

Bringing in too many directors is also a bad idea. Not everyone should hold a directorial position. This is true for employees and shareholders. It’s essential for anyone becoming a director to be knowledgeable on their legal duties. In addition they must be willing to accept them.

Shareholder numbers

Following on from our last point, you don’t want a surplus number of shareholders. This is because they have the right to a cut of the profits. Not only this, but they also have rights within your company. You need to think carefully about whom you actually want as a shareholder.

This isn’t an exhaustive list by any means and people do make other mistakes. As such, you should always double check your details before moving forward. Consulting a team like us is a great idea.

At Brian G Lonis, we provide first class aid to clients regardless of how big or small they are. The sector they originate from doesn’t matter either. As FFA and FCCA qualified individuals, we always aim for superb results. This gives everyone peace of mind when working with us.

If there’s anything the top team for new company formations Stoke Newington has can do for you, please let us know. We can help you with everything, from registering to creating a business plan.