By Marie Nelson
A lot of people venture out to start their own business as they are able to enjoy complete freedom and complete independence on their business. This could be widely understood since being the owner yourself will allow you to utilize and apply your own tactic and ideas and the best part to be your own boss. No matter how easy it might be in being the boss, most bosses discover that they work double time being the owners themselves rather than when they work under someone else. Starting your own business could really bring you lots of profits but you would need to have the mindset and the guts to finish the journey no matter how peachy things may often be. Not only this you also need to know on how to register a company and meet all the legal requirements.
Choose Your Company Name
This is a very important step since this is what your identity will be and this is you will use when you answer the phone. This is what other people will notice in your different advertising formats, brochures and business cards. This step should be taken as an exciting experience as many company names aren’t always sensible but most are memorable.
Choose the Right Name
It is quite essential to choose the right name. Since you are already well aware of, what you need to do is to make sure that the name you are applying for is not registered by some other people and should also take note of the restricted descriptions and words. It is the Registrar who will guide you whether your selected name is already taken or not, if taken then you will get proper permission from the State Secretary to help you in choosing another name without any charges.
It is mandatory not to copy an existing company name in the field or industry you are in. There may be no exact way to detect ahead the existence of some business names; it is then advisable that you check it out through the local telephone directories and likewise to have an idea if there’s any other business with name the same as yours.
Registering Your Company’s Name
Under the business names act of 1916, all businesses are required to register their business names and were further repelled when the Companies Act 1981 came along with its new rules. But, this was also again replaced by the Registration of Business Names Act 1985, which permits the State Secretary to have power over the business name you will select. So if you want to register a business, you must register your business completely with the Registrar of Companies. On a general note, it is mostly about choosing and registering a particular name for your business. The entire name search is upon you and only you. Once you have selected a certain name, you can start filling out the required forms and documents and also pay all the right fees to legalize your business and also make it legitimate.
Meeting such legal formalities is important and will ensure you your business rights. You can do almost any type of business once it is registered almost anywhere. So why not do it!