A company registration is one of the first legal steps to take for startups and small businesses. It creates a separate legal entity that reduces the liability of business owners and helps them avoid personal lawsuits in case of bankruptcy, a bad market condition or other unforeseen circumstances.
The benefits of registering a business are numerous, including the ability to raise money for your venture and show that your company is a legitimate contender in the marketplace. Investors are also more likely to trust a registered company than a sole trader or partnership, and having that extra layer of corporate structure might just give you the edge you need to attract funding.
A registered company also allows you to apply for a corporate bank account, making it easier to manage your finances and keep track of your cash flow. This can also help you save time and effort when dealing with tax agencies since you’ll already be in compliance with the law.
Registering your business will give you a unique CRN (company registration number) that distinguishes it from other companies in the same industry. It is the main way that Companies House identifies your firm. Your CRN will not change if you change the name of your company, add or remove directors, or change any other details with the Companies House.
The best company registration services offer convenient and affordable online filings with 24/7 access to your documents. They will also help you keep up to date with your filings, avoiding any potential penalties for late submissions. Inc Authority’s free filing offers a complete package for new entrepreneurs, with additional features like a business name check and a year of registered agent service. Their transparent pricing and human-centric customer service set them apart from the competition.