Babel started this topic @ 05:52 on 10/09/2004
Form a Company in 24 hours....
Is it a growing trend or one that has been on the net for awhile?
I notice that just as there are an increasing amount of opportunites to 'resell' Finance, Merchant Accounts, Accident Insurance etc, so there also seem's to be a rush of websites offering 'digital incorporation" "in under 4 hours" & various other Instant company making gadgets.
To others on this board (whom may be LTD companies) what do you make of the way 'quick formations' & 'readymade' companies are comming accross on-line ?
I'll confess I'm an 'impulse buyer' (or maybe a 'binge buyer' would be more correct) this is the sort of thing I could be tempted into buying, like buying a domain name or a snazzy bit of software - so I think the marketing is aimed at people like me.
My only concern is it 's all made to look so simple, so quick almost like they are encouraging too much, which is the only thing that has made me step back - becomming a Company would open alot of doors (credit wise with one bank I spoke with atleast) but is access to 'credit' a good reason enough to do it ?
I'm forever being told I don't take enough risks (I like to view it as caution) I often reply back to folk like this in a joking manner - "well you won't be saying that when I'm a Company Director...".the point being that it could easy be done now, by anybody,on impulse, for the wrong reasons - even just to prove a point.
" and how was your day ?"
" well I formed a Company called Parsnip Enterprises LTD earlier today on the Internet & I put you down as Company Secretery on the form, I'm the director - so what's a tax return then, Dad... ?"
opinion anyone ?
RE: Form a Company in 24 hours....
Ian J | 10/09/2004 07:32 AM
These are all things that have been available for years via snail mail and telephone and it's just the marketing and sales method that has been updated to make use of the internet.
As a broker, in the days before websites I would have been sending out hundreds of mailshots and leaflets, mainly to people who weren't interested but at least websites attract people that should already have some interest in your product or else they wouldn't waste their time looking at your site.
That doesn't include everyone and I specifically exclude the person who clicked on a link to my site from here yesterday and deliberately filled in the wrong contact details. I won't be trying to contact him even though his correct phone number is on the question he posted 
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Ian
Factoring ,
Invoice Discounting ,
Trade Finance and
Asset Finance specialist broker.
Founder member of
Independent Factoring Brokers Association
RE: RE: Form a Company in 24 hours....
stuartebdy | 10/09/2004 09:37 AM
Hi Ian.
That may have been myself who filled out your form.
Apologies for that, but I simply wanted a no obligation quote, and I was wary from past experience of filling out forms online only to be bombarded with phone calls, emails, and letters from people wanting to sell me stuff. (I prefer to make my own decisions without being pressurised)
I am in no way suggesting your compnay would be like that, simply that I didn't want to take the risk.
I understand that from a sales point of view, you want to get as much information from potential customers as possible, but sometimes potential customers want to remain anonymous.
Can I also point out that my time on your site was not wasted, as I found it to be very useful indeed, have bookmarked it, and may well be in touch in the near future.
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RE: RE: Form a Company in 24 hours....
stuartebdy | 10/09/2004 10:11 AM
No problem.
I just thought you would like to know that I liked your website, and found it useful, and that I was not a time waster,
All the best mate
Stuart 
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WOW. 5000 A6 Full colour 2 sided flyers, only £99.00 (includes fast print, delivery and vat)
[url=http://www.whitesparks.co.uk]Trust the experts, order here.[/url]
[url=http://stuartebdy1.blogspot.com]My Blog.[/url]
RE: RE: Form a Company in 24 hours....
Babel | 10/09/2004 07:05 PM
Interesting replies, I thought there might be a few more cautionary tales of people that had not benefited from incorporating this way - I'm not against this method, it just seems abit too easy for anyone to do, whether they realise the legal obligations involved or not.
I have the means to offer Company Formations on my websites as a reseller - I haven't enabled it yet, as I'm not familiar enough with the 'product' as I'm not a Company myself, yet.
RE: Form a Company in 24 hours....
Clementine | 10/09/2004 07:57 AM
These types of things have been around for a while. Maybe the net just facilitates it in an easier way.
The question I would ask would not be should I register a Ltd company online. You should ask yourself whay you want to start a Ltd company, do you know how to run a Ltd company from a paperwork perspective, is it worth starting one for all sorts of reasons inculding tax.
Then if your answer is still yes, then ask yourself how much do you want to spend starting a Ltd company. If the answer is not a lot of money then go online and start your Ltd company up. There will be plenty of companies out there more than happy to take your money to do it for you - but why do you want to pay more than you have to?
And yes, I did start my Ltd company through Quick Formations.
Clem.
RE: RE: Form a Company in 24 hours....
stuartebdy | 10/09/2004 09:29 AM
I too set up my company through Quick Formations, and cannot recommend them enough.
For under £50 I got my company registered and a .com domain name.
Very quick too! Any very helpful both through email and over the phone,
Stuart
------------------------
WOW. 5000 A6 Full colour 2 sided flyers, only £99.00 (includes fast print, delivery and vat)
[url=http://www.whitesparks.co.uk]Trust the experts, order here.[/url]
[url=http://stuartebdy1.blogspot.com]My Blog.[/url]
RE: RE: Form a Company in 24 hours....
James Smith | 10/09/2004 09:48 AM
What clem said about limited companies, for goodness sake think "do I really need this thing?" before you buy, and then "do I know how to run it?"
You wouldn’t believe the number of companies I wind up that have about £1,000 of trading in them, and they are always hassle as the client has lost interest and doesn’t want to pay to get it closed out properly. Unfortunately once you have sold a few things its nearly as much work to do the stats and tax return as it would be if the thing was successful.
When testing a business model, there is a lot to be said for sole traders as they take about 5 minutes to close down, although your accountant will be poorer.
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James Smith
Chartered Accountant
www.jamesesmith.co.uk
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