If you are really thinking of business incorporation or rather, incorporating your business, you will have know at least, a little idea of what you wa...
If you are really thinking of business incorporation or rather, incorporating your business, you will have know at least, a little idea of what you want to do.
Why do people incorporate their business?
Their are many benefits attached to running a business corporation rather than the sole proprietorship or single-owned businesses outside there.
Am not telling you that running sole proprietorship is not good or lucrative but, there are some extends you can run a business only especially, when you dream of taking the world of entrepreneurship.
Taking the world of entrepreneurship is not just a dream you can achieve alone; take it for instance, Cristiano Ronaldo is a world most famous and successful football, he had dreamt about it and now he is going all well and good.
But, is he the only player playing for Portugal or Real Madrid? NO!
Definitely, he is in team of eleven players, CR7 can’t be successful in football business with his team members. What I want to devise from this illustration is that for a big dream of any successful business, their should be an incorporation.
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Many entrepreneurs also though and be convinced that, it will be more than easier and good for them to run their businesses as corporation.
These board of directors you are about to choose must be competent enough to handle the job or role given to them.
Note that their details including bio and contact addresses will be in the documents you will submit when you want to register your new incorporated business.
==>• (4) Hire A Lawyer for your Business Incorporation
After getting your Shareholders together by going for corporation and have as well, appoint your Board of directors (BOD), the next thing is to get a Corporate Lawyer.
Corporate lawyers are trained to deal with any issue pertaining to business including business incorporating. Bear in mind that you can’t hire “Just Any Lawyer” but a Corporate Lawyer like that of Mesothelioma or Asbestos Lawyers who they (mesothelioma lawyer who also deal with asbestos or mesothelioma cases.
Go to any reputable law firm and try to hire a professional corporate lawyers: Tell the lawyer you have hired about your decisions and steps you have taken. If the lawyer is experienced enough, he/she knows the next thing to do.
But above all, hire a corporate lawyer who is just ready to deliver his/her legal responsibilities; do not hire the one who is craving for financial materials rather than the usual contract or deal you have both agreed on.
In one of my article, precisely about Mesothelioma Lawyer, I outlined all the steps and what you must do in order to get the best mesothelioma or asbestos lawyer. Compare the article to how you can also get the best corporate lawyer…. READ HERE.
==>• (5) Contact the Government Agency Responsible for Business Incorporation:
Since you have gotten your business together and there is a lawyer to represent you in case of legal molestations, the next thing is to contact your state or country governmental agency responsible for this service.
In some countries like the US, they always goes to their state secretary and the secretary will be the medium between the business owners and the government but if you don’t know your own state secretary, it’s advisable to contact the governmental agencies responsible for this and, acquire any forms related to business incorporation, submit it to where you are directed to submit it to.
==>• (6) Obtain, Fill and Submit All Documents Associated with Business Incorporation
With extension to the point above, you should make sure that you collect all the forms of business association.
You may be directed to other offices or governmental institutions in order to obtain a form, heed to them and collect the form(s).
Among the documents you will be given are:
• Statement of Information Form – This document contains very basic information about the corporation such as the names and address of the directors, members of the board etc.
• Articles of Association
Mind you, you are going to pay some stipulated amount of fee on every single document, so prepare yourself before heading out for the business incorporating forms.
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==>• (7) Pay Your Incorporation Fee:
After getting and submitting all required forms, the next thing is to pay for your incorporation fee. This incorporation fee varies from country to country but make sure you get all the details about it from your state secretary or local government areas.
And, unable to pay this fee might not get your business incorporated even, if you have collected and submit tons of forms.
==>• (8) Finally, Register Your Business Corporation With the Government:
After going here and there for the sake of incorporating your business, the next thing is to get it registered with the government.
In united states, you will register your business corporation with Internal Revenue Service (IRS) and some countries like Nigeria also have this government agency but, they are to take care of taxes paid by the country’s citizens.
In country like Nigeria, you will finally Register your business corporation with Corporate Affairs Commission [CAC].
After registering your business corporation, congratulations! You are now running an incorporated business without anybody or governmental agencies disturbance… Go on and start building and expanding your business!
What have you gained? Can you now incorporate your small-business without any difficulties with this guides? Did you have any questions or would like to add or change something from this article? Please, kindly contact me as soon as possible by commenting below.
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