Brian c Posted August 24, 2004 Posted August 24, 2004 Well, it may not be the most conventional way of starting up, but I've just decided on a name I liked, ran a search at companies house and purchased an 'off the shelf' company from the net! I am now the director of Beacon Security Ltd ! : After trawling through the DTI, Inland Revenue and VAT links kindly provided by Alastair, and all the replies to previous posts, I have decided to move in to sub-contracting and working for myself. It seems I can subby for the big nats. whilst still trading as a company (doing bells only to start with). So, I thought I'd post a little update every now and then as it may be good reference for others thinking of starting and entertaining reading for those of you who've done it! Like i said, I trawled through the sites, subsites and links, printed out loads of contact numbers to ring tomorrow with loads of questions and decided on a name! As for the company, I liked the name, checked if it was availavle and bought it (£41.11)!! There is some processing still to do and may yet be rejected, but is unlikely apparently. I have formed a Limited company as it appears to me the most straight-forward. I appointed myself as a director and a subscriber and my girlfriend as the secretary(was this wise??!!). I registered it all with my home details and appointed all the shares to me. It may be too early in the stages to buying companies but when I saw the name was available and it was so easy to register it, I thought I might aswell!! So, the next step is to ring round, get more advice and save up some money to tide me over in the first few months. I'll also need to save for extra tools, ladders, other bits and bobs and a van/car. I am thinking of hiring a van to avoid the initial outlay as it includes insurance, tax, etc., but it would eat big chunk of my potential earnings. Any comments? I will have to continue working untill I have done enough 'jobs' to cover me leaving. Anyway I'll keep you updated when things get moving. Untill then I'll have some fun with logo's and webpages! If you don't know......ask.
BUSTER Posted August 24, 2004 Posted August 24, 2004 Buying the company name was the easy bit, if your going to trade as Beacon Security ensure that no one else already is. Buying the company name doesn't mean you can trade with it. If they are trading in a different area that is quiet a way from your proposed patch, and they are not national, then you may get away with it. They can sue you for trading off of their reputation (Good or bad) and make you change your name which having started trading and then changing the name is not good. If there are companies in your area with a similar name i.e. Beacon Alarms they could stop you trading under Beacon Security. It's a bit of a minefield with names and can prove very expensive. Any comments / opinions posted are my opinion only and do not represent those of my employer or Company
Brian c Posted August 24, 2004 Author Posted August 24, 2004 There are similar named companies, but not in my area. I'm just hoping I can get away with it! I won't be trading under that name for a while yet, so that gives me a bit of time to see if anyone objects! If you don't know......ask.
Guest RICHL Posted August 24, 2004 Posted August 24, 2004 Have a look on Yell for other Beacon Securties and as long as there are no others in your area then you should be OK. Now that you're Ltd you will need to present a set of accounts to companies house annually - so look around for accountants. This needs to be an AUDIT not just a set of books. A good acountant will know the score. But dont leave it too long as there are fines for not submitting accounts. There's nothing wrong with your GF being the company secretary, but it does mean she has to wear sussys and that Seriously though, good move well done [Dave, we need a thumbs up smillie!]
Brian c Posted August 24, 2004 Author Posted August 24, 2004 Thanks mate There is another in cumbria so I'll have to see what happens! I've spoken to a friend in business and he is going to forward me to his accountant. I won't be trading in that name untill I'm ready, though, to avoid more complications. Bring on the sussy's! If you don't know......ask.
Service Engineer Posted August 24, 2004 Posted August 24, 2004 Dave, we need a thumbs up smillie! Any preferance to which one..? ........................................................ Dave Partridge (Romec Service Engineer)
Guest RICHL Posted August 24, 2004 Posted August 24, 2004 The forth one in woud get my vote. The fifth one is a thumbs down. Technically.
Service Engineer Posted August 24, 2004 Posted August 24, 2004 Think I`ll add em all Just might reduce the sizes a little first. ........................................................ Dave Partridge (Romec Service Engineer)
Guest Posted August 24, 2004 Posted August 24, 2004 i would register the domain name too..theres always some chancer waiting to make a quick buck..........least gives you time to get your website up and running in the name you want..
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