Off the shelf or start anew?

[Albert Tatlock]

What are the Pros and cons of buying an off the shelf company as opposed to starting a new one.
Is it something to do with the registered address

thanks a lot

 

[Lawyer]

If you mean off the shelf but it has never traded I would always go for that due to time - you can buy one where everything is done for you including all initial board minutes etc. If you have a lot of spare time then you can set one up and do what can be several hours of work getting it set up. It is simply about money and time. Most of my clients are short of time and can afford a few hundred to set one up so might buy one from an agent like jordans.

 

[Albert Tatlock]

Thanks Susan

 

[Talay]

£100s ? Hours ? are you barking ?

It takes 5 minutes to set up a company, a credit card and £14.99 (plus VAT).

https://www.companiesmadesimple.com/

You can of course go bespoke but model articles etc. are fine for most firms to start out on.

No need to line the pockets of others with such a simple task. This is not the 1970s.

 

[Paul Kelly ICHYB]

Sorry, it does not take 5 minutes to register a new ltd company!!!

It took me about 7!

 

[Lawyer]

It depends what you are after. I do not think I am mad to suggest many many people find it easier to buy a fully set up company. https://www.jordans.co.uk/company-formations and other providers have a popular service but as people say and indeed I said above you can certainly do it yourself but that does take a bit more time to do everything - minutes and all that stuff.

 

[The Resolver]

£100s ? Hours ? are you barking ?

It takes 5 minutes to set up a company, a credit card and £14.99 (plus VAT).

https://www.companiesmadesimple.com/

£14.99 - are you mad as a march hare? Companies House's own simple to use online system costs only £12!

 

[The Resolver]

But whether you pay £12, £14.99 or £100s the real , and very heavy, cost is not the cost of what you do but what you do not do i.e fail to sign a Shareholders Agreement.

 

[STDFR33]

But whether you pay £12, £14.99 or £100s the real , and very heavy, cost is not the cost of what you do but what you do not do i.e fail to sign a Shareholders Agreement.

There is a stage before that, of course. And that is deciding if a company is the best trading vehicle.

 

[Albert Tatlock]

All very useful
Thanks a lot all