Register as a Business?

H

HostingKing

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Do you have your web hosting company registered as a business. If so, what kind? Is it a partnership, LLC (limited liability company), incorporated, or simply a DBA? Did you wait to register until your business was becoming successful, or did you register immediately?

My company, I registered right away as an LLC. It allowed us to have a business checking account, and I've been thankful more than once that I've had a registered EIN for my business.
 
Being in the UK, their is no real need to register a business as such. Although we have a business bank account, pay taxes to HMRC and are registered with the ICO under the Data Protection Act. I also have the business name registered as a Limited Company
 
I think it depends on which country you're targeting specifically.

Its better that you'r business is registered, it gives more of an assurance to clients that incase there's a problem they know where to find your office/business.
 
I think it depends on which country you're targeting specifically.

Its better that you'r business is registered, it gives more of an assurance to clients that incase there's a problem they know where to find your office/business.
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Truly Agreed with this...:)
 
I registered my business straight away. Apart from wanting to make sure I was covered incase anything goes badly wrong (hopefully unlikely * touches the wooden desk *), I also believe the end user will have a lot more trust and faith in a company that's properly registered.
 
How come to do any kind of business without being incorporated and without representing a legitimate entity? What one would put on invoices, if there's no legal entity behind... someone's granny's name :)

The legal form of the entity depends of business purpose. LLC work if the partners want the profit to be transferred at their own accounts as individuals. Otherwise C and S corporations work better.
 
Web Design - it was after awhile, but I changed to DBA once I had some clients.
Hosting - deciding right now on DBA or LLC
 
Yes, you should definitely register your company as a legal business entity. Although I legally conducted business and filed taxes as a sole proprietorship for years without any issues. :thumbup:

I registered the company as an LLC because this option was best suited for me, as a small business owner. What you choose will depend on many things, including: how you want to file taxes, how many members/owners your company has, your country's laws and/or the laws of the country your company is registered in (if different than where you live), and many other things..

As always, it is best to contact an attorney for legal advise.:help:
 
Not yet but at some point maybe, I jumped at doing it to soon with some businesses I started, it was not worth doing it.

So always consider what you are doing before registering the Company!
 
webhostingcs said:
I think it depends on which country you're targeting specifically.

Its better that you'r business is registered, it gives more of an assurance to clients that incase there's a problem they know where to find your office/business.
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Indeed. It also shows dedication to your craft I believe. Its an investment and you own it. In the US it allows for a lot of perks as well so why not?
 
In the UK, you need to register your business with HMRC for tax purposes, but no other formal registration is needed. You can happily run a business as a sole trader. you can if you want register your business as a limited company, but then you are faced with the added expense of directors NI stamp etc. and Corporation Tax., but then as a director you only get a share in the ltd company normally a fee of £1 per share, so if the business gets into trouble and ends up owing say £50,000, as a director you are only liable for the £1, but a sole trader would be liable for the full £50,000
 
easyhostmedia said:
In the UK, you need to register your business with HMRC for tax purposes, but no other formal registration is needed. You can happily run a business as a sole trader. you can if you want register your business as a limited company, but then you are faced with the added expense of directors NI stamp etc. and Corporation Tax., but then as a director you only get a share in the ltd company normally a fee of £1 per share, so if the business gets into trouble and ends up owing say £50,000, as a director you are only liable for the £1, but a sole trader would be liable for the full £50,000
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I believe at a certain annual revenue (£72000?) you then need to register though.

Though there are really some great benefits & disadvantages of registering as a limited company (main benefit is liability as in the above post).

Though it does add some extra hassle (accounts etc...).
 
We see registration as a huge advantage. But previous consulting with an accountant and a lawyer is indispensable.
 
Registed LLC almost immediately

I registered my company as LLC immediately, only took 2 months to have it all finalized.
I would def recommend doing so if your planning on being in business, being a LLC protects yur personal assets and opens more doors with suppliers etc.
I had RocketLawyer do my LLC stuff and including the Seal they only charged me around $250 ($150 was filing fee for my state)
When I ran last electronic shop retail store think local lawyer charged me around $1500 to do same thing but it is much more affordable now with the legal sites now that can do the paperwork for you.
 
Like already mentioned registering as a business is certainly important. Depending on how you do this, it can also help you establish your brand and build some more trust from future/current clients. Registering your business also shows you are dedicated to what you do.

An example with a physical product would be: Where would you buy a product: online from an unregistered business or at a local store you know is registered?
 
BrandonM said:
Like already mentioned registering as a business is certainly important. Depending on how you do this, it can also help you establish your brand and build some more trust from future/current clients. Registering your business also shows you are dedicated to what you do.
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does not work like that in the UK as anyone can go and register a Limited company from as little as £15 GBP
 
easyhostmedia said:
does not work like that in the UK as anyone can go and register a Limited company from as little as £15 GBP
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I imagined it is different. In the wonderful US state filing fees are typically in the hundreds. In NY you have to pay the state fee of $210 + within 90 days of being registered do a publication which ranges from a few hundred to a few thousand.
 
BrandonM said:
I imagined it is different. In the wonderful US state filing fees are typically in the hundreds. In NY you have to pay the state fee of $210 + within 90 days of being registered do a publication which ranges from a few hundred to a few thousand.
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which i think would be a better way in the UK, as their are thousands of cowboy traders who will set up a ltd company, get suppliers from traders rip people off by either doing shoddy work or no work at all after getting paid and then just pay the £10+VAT to companies house to de register the ltd company and of course as the company is no more no supplier or consumer will get their money or goods back and then the cowboy just sets up again to do the same thing.
 
zxenterprises said:
I registered my company as LLC immediately, only took 2 months to have it all finalized.
I would def recommend doing so if your planning on being in business, being a LLC protects yur personal assets and opens more doors with suppliers etc.
I had RocketLawyer do my LLC stuff and including the Seal they only charged me around $250 ($150 was filing fee for my state)
When I ran last electronic shop retail store think local lawyer charged me around $1500 to do same thing but it is much more affordable now with the legal sites now that can do the paperwork for you.
Click to expand...

What are the statutory costs of filing taxes in the US ? Do you need to appoint a CPA ? How much does it cost to maintain a LLC in the US ?
 
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