Business growth

Corporation registration-a way to grow your business

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Company owners and managers are interested in how to successfully grow their business.

Once your business gets off the ground, registering as a corporation is a good idea.

A company is a framework of the business that defines a business as a legal entity.

Registering as a corporation provides a legal separation between the owners of the business and their business.

It is a critical move for business owners looking to scale up their business.

Investors are captivated by the limited liability protection provided by this registration.

By registering as a corporation, new funding for expansion is thus easier to get.

Now is the perfect time to register as a company if you are interested in increasing your business.

Read on to learn how to get corporate registration to grow your business.

1. Get a structure for your business

The first step to obtain corporate registration is to establish a framework for the company.

When filing for a corporation, there are many organizational choices that business owners have.

The structure you choose will depend to a large extent on the type of service you provide.

This also impacts how you make tax returns and your day-to-day activities. So choosing the right business structure is essential if you want your business to grow.

If you choose no structure, your business will by default be a sole proprietorship.

That means you don’t distinguish your personal assets and liabilities from your company.

When this is the case, business owners assume a considerable amount of personal responsibility.

They ‘re also struggling to find investors willing to take the risk.

If you are looking to expand, select a Alliance, LLC, or C-Corp structure.

The first step in the corporate registration process is to determine the correct structure for your firm.

2. Get a Company name

The next step to expand your business by registering is to book a company name.

This name is closely linked to your identity as a brand and business.

Be mindful that good company names are born not made. So it’s important to carefully weigh your choices.

To reserve your name, you’ll need to search through a database of companies in your state that operate or were founded.

State regulations forbid businesses to pick a name similar to one that already exists to prevent confusion.

Just in case you should have only a few options available.

Corporations are expected to have “Incorporated” or “Corporation” as part of their name in most states.

If you file as an LLC you will have to add “Limited” to your name.

If you have a company name checked, you’ll be able to carry out more successful marketing campaigns.

This will help your business appeal and grow to a broad audience.

To register as a corporation reserve a company name for your firm.

3. Get Registered with Relevant Agencies

There will be several federal and state agencies which you need to register with, depending on your company.

At the state level, register with agencies in the countries where you are doing business.

It indicates you have a physical presence in the region, or a large portion of the income from your business comes from that.

You will be working with a more popular audience as the company expands.

Therefore, to account for this development , it is necessary to register with all relevant State agencies.

In addition, register with U.S. Patent and Trademark office if you want to trademark your business , brand, or product name.

Registration of a trademark allows businesses to monetize their branded properties.

This is a valuable move for businesses looking to grow.

Another important step towards being a company is registering with the agencies concerned.

4. Federal Tax ID Number

You’ll also need to obtain a federal tax ID number to register as a corporation. This is also known as an Employer Number or EIN.

You would need an EIN for your company to pay federal taxes, open a bank account and apply for business licenses and permits.

It’s free to apply for an EIN and it’s recommended that you do it right after your company registers. To hire and pay employees you’ll need an EIN.

It is therefore a necessary step for entrepreneurial expansion.

The organization must have an EIN to work with all forms of organisations.

Therefore it is important to obtain this federal tax ID number in order to extend your partnership list.

5. Document the Articles of Incorporation

The final step in the process is to file incorporation articles. You will file these documents with the office of the secretary of state.

These incorporation articles include information such as company name and address. We even name the business as registered agent.

Your registered agent will need to have a physical address in the state you are filing.

Hiring a lawyer for this role is a good idea, as they are responsible for accepting legal documents on behalf of the corporation.

Once you’ve filed incorporation articles, in the eyes of the government you’re seen as a legal business entity.

Now you can use that position to draw more investors.

You can also do business lawfully in all the states you are registered to.

The last step in the corporate registration process is to file articles of incorporation.

In Summary

Business owners are keen to know how to register as a corporation. In that method, there are several steps to be taken.

First, you’ll need to agree on a separating business structure for personal and corporate properties.

Next, pick a special company name, and reserve it.

Register at State and Federal level with all relevant agencies.

Get a federal tax ID number so you can hire employees and pay them.

Finally, register articles of incorporation with the office of the secretary of state.

 

Komolafe Timileyin is a passionate entrepreneur that loves to solve entrepreneurial issues. He is also a blogger and an upcoming Engineer.

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