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Are you a registered company?

T

talkwebhosts.co

New member
If so what type of company did you formulate (corporation, s-corp, c-corp, llc) etc... Why did you choose this type of company? How long have you been registered and are you able to write of everything? 😉
 
Mine? I guess so. Mines a home company, family run although its still in the making never has been properly finished. The bank meetings have been taking a while, there done with now just paperwork. We have also applied for a goverment payment to help us setup 🙂
 
webdesigntalk said:
Mine? I guess so. Mines a home company, family run although its still in the making never has been properly finished. The bank meetings have been taking a while, there done with now just paperwork. We have also applied for a goverment payment to help us setup 🙂
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Is it easy to get funding in the country you reside? What process did you have to follow to do so?
 
These are usually one-off payments, from European, national or regional government authorities, providing help with specific business projects. You don't pay any interest on grants nor do you usually have to repay the money or give up part of your company.

Grants are likely to cover no more than a portion of a project's costs, even if successfully applied for. The award of a grant is usually subject to conditions regarding eligibility and what the money can be spent on.

The main groups who award grants are:

* The government
* European Commission
* Regional development agencies
* Local authorities or local councils and local development agencies
* Chambers of Commerce
* County Enterprise Boards
* Some European and UK government funding is distributed through regional development agencies, colleges and the Learning and Skills Council.

We are still applying to have it, I will let you know how it goes though. 🙂
 
Well ive tried to get as much as possible by writing down all costs but using powerful servers needing 5, then a programmer to do the site and a professional webdesigner. And then the staff. Thats what were applied for. 🙂 Wont be much well I'm not sure but its better than nothing 😀
 
We are LTD. in Canada, and chose this route prior to our site going live. Various resources were considered and put into place which was not a rock bottom entry of $500.00, but it was a few thousand dollars of my hard earned cash.
In order to reduce personal liablity it was best to choose LTD as a form of incorporating our business, and business name.
Bones
 
Bones said:
We are LTD. in Canada, and chose this route prior to our site going live. Various resources were considered and put into place which was not a rock bottom entry of $500.00, but it was a few thousand dollars of my hard earned cash.
In order to reduce personal liablity it was best to choose LTD as a form of incorporating our business, and business name.
Bones
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Sounds like a good decision. I feel more comfortable with registering my company as an LLC for the same reason.
 
S-Corp in the USA. Heck - it takes $0.99 to register a corporation in Colorado (if you do it online).

I would AVOID doing hosting as a sole proprietor. If something goes south with your server and a client loses business due to it, they can sue and potentially take your car, your house, and everything you own. Form a corporation or an LLC and you can avoid the nastiness on a personal level. Sure, they can come after your business, but if it doesn't have a lot of resources, you're not losing much 🙂

Better safe than sorry 😎
 
What is an LLC? I've seen a lot of american companies be one, but being British wasn't sure what it meant
 
An LLC means "Limited Liability Company". It's more of a tax decision as to whether one creates an LLC or an S-Corporation - both of them shield you from lawsuits (to some extent), but they're structured slightly differently. I'm NOT a lawyer or accountant - far from it - but that's my understanding. Regarding the UK, here's what the Wikipedia article says:

"In 2002, the UK legislated limited liability partnerships ("LLPs") into existence, which more closely proximate LLC's in the USA. Member partners are taxed at the partner level, yet the LLP provides limited liability from LLP liabilities for the member partners."
 
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