Business review

The most important aspect in forming a Company is to see to it that you qualify in the whole process. I bet no person will want to fail in the process. Any person, a group of persons or even a corporate entity has to invite a lot of expert knowledge from within and without the environment. In these case therefore, the applicant must be very smart in dealing with his paper work.

Academic qualification

Every business requires proper know how and the general professional experience in the field concerned. You must let yourself be known in the lighter and complex nature. Tell the registrar that you are the best to have it. This is a requirement that'll highlight your capability to handle and manage or rather run the company. You should therefore try to be smart and clever about the information you give to the registrar of companies.

Clarity

You must try as much as possible to be very precise, concise and straight to the point as these will add you a mark. Do not forget to tell clearly on the paper the expertise in you. But remember to maintain clarity.

Financial capability

Ideally, the most determining factor is how much money you have to begin and run a company without failing. The size of your proposal is what goes inline with the finances required from you. Understand that it's this issue of money that disqualifies most prospective entrepreneurs

The memorandum of Association

This document illustrates the name of the company, location, purpose of the company, share capital, objectives among other requirements. This is a requirement that every prospective applicant has to sign in failure of which the application won't go through. It's imperative that the Memorandum of Association is drafted and submitted to the registrar without any omissions what so ever.

Articles of Association

This is where the company's rules are. Basically, these rules govern the internal activities and affairs of the company. These rules must be adhered to at all times in the life of the business if registered.

For a public company, at least two directors are appointed to carry out the affairs of the company. For the private company, only one director can do. The rules of the company concerning the number of directors will be respected.

A registered place or office

The company need to have the physical address which will enable the company receive correspondences. This will involve the letters and notices from customers.

The structure of your business

Stockholders may be unlimited incase it's a corporate entity. People who start business as a small group will be termed as close in business hence their financial requirement is small and the structure will also be simple.

Agent

The proprietors will require at least an agent who is registered. The agent's main duty is to safeguard the corporate identity of the company. An agent with high reputation will offer great reliability to the company. Remember that it should not be another liability to the company because these agents are always paid for the services they render to the company.

When you think of starting a business, think about the requirements and all will go down well with you. Next time you think business think good.

About the Author:

Quickformations.com provides reputable Company formation services to help you establish your business, visit our website today!

Article Source: ArticlesBase.com - What Are the Qualifications to Form A Company