I have been doing some thinking, and I have what might be a brilliant business idea. It equally might fall flat on its face or run somewhere along the scale. I want to see what will happen. So, I want to set up a company. If you’re like me, have an idea and want to set up a company, read the text below to get a step-by-step guide to the pre-registration checks. I want this company to make profits in the future, so I have opted for a limited liability company (Ltd). The process is simple.
What you will need:
- A business idea
- A company name
- An address
- A computer with an internet connection (or a pen and form IN01)
A business idea
As you clicked on this link, I’m sure you already have a business idea. I’m sure your idea is also brilliant. If not, don’t worry too much. You can change it whenever you want.
A company name
Step 1. Check that your company name is not already taken by searching Companies House for the name here. https://find-and-update.company-information.service.gov.uk/
Step 2. Check that your preferred company name is not already trademarked.
You can search the UK trademark register here: https://trademarks.ipo.gov.uk/ipo-tmtext
You can search the EU trademark register here: https://euipo.europa.eu/eSearch/
You can search the international trademark register here: https://www.wipo.int/en/web/global-brand-database
If you find the name already trademarked, don’t panic. It might be in a different class, in which case you can use it. We will talk about that in another article.
Step 3. Check that the domain name you want is available.
You can search for available domain names on any domain name registrar. I use Hostinger, so I’ll give you the link for that. https://www.hostinger.co.uk/domains
If you do want to sign up with them, it will give me a little bonus if you use my referral code. You should get 20% off too: https://hostinger.es?REFERRALCODE=WZTSJNVIB
Other than that, the name also shouldn’t be rude, offensive or misleading. So, I’m not going to use any swear words or give the impression that I’m a government department when I’m not.
Address
Step 4. Check that your address is suitable.
As a director, you will have to give Companies House your home address, but they will keep this private.
You will also need to give a service address, which is available to the public. If you own your property, this can usually be your home address, but the service address goes on the register for every Tom, Dick and Harry to see. If privacy is an issue for you, consider renting a service address. It can’t be a PO Box, but it can be a business centre or any address where you can receive post.
Step 5. Check your SIC (Standard Industrial Classification) Code
You can find out what your SIC code is at https://resources.companieshouse.gov.uk/sic
If you’re not ready to start your business, but you’re setting up a company to get ready for it, use 99999. It’s the code for dormant companies. You will need to change when you start trading.
Step 6: Register the company
You can register the company online, by post or by using a service provider. We will go through these methods in the next post.