When unemployment is high and wages low, it can be tempting to go it alone. Although it can be daunting, starting your own business can be extremely rewarding. You can do what you really love and be in total control of every aspect of it, not to mention the amount of money you could earn. There are three methods of company formation; using Companies House, using an accountant or lawyer, or using a company registration agent.
By registering your company with Companies House, you will save some money, but this is by far the most complicated option. All the forms will have to be completed by you, which can be extremely time-consuming. You will also need to provide a memorandum and articles of association to Companies House, which can be very complicated and may require a solicitor to help complete.
Using an accountant or lawyer to form your company is very efficient; you will have all their experience and expertise at your disposal and they will ensure that everything necessary is completed. Unfortunately, it is very expensive; it could cost the business around £200, which is a lot of money for a new start business.
The best option for company registration is to use a company formation agent. Company formation agents offer the perfect balance of service and affordability. They complete company registrations online and can provide you with all necessary documentation, all within a few hours. Using company formation agents is definitely the smart choice.