Establishing and registering an existing overseas Business in UK

 

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20 Responses to “Establishing and registering an existing overseas Business in UK”

  1. davechong52 says:

    basic about business.

  2. chummyonly1 says:

    In economics, a business (also called firm or enterprise) is a legally recognized organizational entity designed to provide goods and/or services to consumers. Businesses are predominant in capitalist economies, most being privately owned and formed to earn profit to increase the wealth of owners. The owners and operators of a business have as one of their main objectives the receipt or generation of a financial return in exchange for work and acceptance of risk. Notable exceptions include cooperative businesses and state-owned enterprises. Socialistic systems involve either government, public, or worker ownership of most sizable businesses.

    The etymology of “business” relates to the state of being busy either as an individual or society as a whole, doing commercially viable and profitable work. The term “business” has at least three usages, depending on the scope — the singular usage (above) to mean a particular company or corporation, the generalized usage to refer to a particular market sector, such as “the music business” and compound forms such as agribusiness, or the broadest meaning to include all activity by the community of suppliers of goods and services. However, the exact definition of business, like much else in the philosophy of business, is a matter of debate.

    Business Studies, the study of the management of individuals organizing to maintain collective productivity toward accomplishing particular creative and productive goals (usually to generate profit), is taught as an academic subject in many schools.

    Basic forms of ownership

    Although forms of business ownership vary by jurisdiction, there are several common forms:

    * Sole proprietorship: A sole proprietorship is a business owned by one person. The owner may operate on his or her own or may employ others. The owner of the business has total and unlimited personal liability of the debts incurred by the business.

    * Partnership: A partnership is a form of business in which two or more people operate for the common goal of making profit. Each partner has total and unlimited personal liability of the debts incurred by the partnership. There are three typical classifications of partnerships: general partnerships, limited partnerships, and limited liability partnerships.

    * Corporation: A business corporation is a for-profit, limited liability entity that has a separate legal personality from its members. A corporation is owned by multiple shareholders and is overseen by board of directors, which hires the business’s managerial staff.

    * Cooperative: Often referred to as a “co-op business” or “co-op”, a cooperative is a for-profit, limited liability entity that differs from a corporation in that it has members, as opposed to shareholders, who share decision-making authority. Cooperatives are typically classified as either consumer cooperatives or worker cooperatives. Cooperatives are fundamental to the ideology of economic democracy.

  3. admin says:

    small business

  4. Henry says:

    In the US, Starting a business involves planning, making key financial decisions and completing a series of legal activities

    Step 1: Writing a Business Plan
    This written guide will help you map out how you will start and run your business successfully. Go to HTTP://sba.gov/smallbusinessplanner/plan/writeabusinessplan/index.html or HTTP://www.score.org/template_gallery.html for instructions on how to write a business plan and sample business plans.

    Step 2: Get Business Assistance and Training
    Take advantage of free training and counseling services, from preparing a business plan and securing financing, to expanding or relocating a business. Go to HTTP://www.score.org/mentors and enter your zip code. On the next screen, you will get information on the nearest SCORE chapter. Call them and arrange for a free meeting with a volunteer SCORE mentor. They will guide you through the process and you can meet with them as many times as you need.

    Step 3: Choose a Business Location
    Get advice from a commercial real estate agent or a SCORE mentor on how to select a customer-friendly location and comply with zoning laws.

    Step 4: Finance Your Business
    Find government backed (SBA) loans, venture capital and research grants to help you get started. If you really need a loan, any bank will require a business plan that shows that you can pay back the loan. You should have a credit score of at least 700. You will personally have to put up 30% of the funds as no bank is going to assume all of the risk. If you cannot get a loan, look at peer to peer lending sites such as HTTP://www.kickstarter.com/ and HTTP://www.prosper.com/

    Step 5: Determine the Legal Structure of Your Business
    Decide which form of ownership is best for you: sole proprietorship, partnership, Limited Liability Company (LLC), corporation, S corporation, nonprofit or cooperative. If you decide to become an LLC, you can do it yourself by going to your states website and then to the Secretary of the State section. There you will find a down-loadable form. Fill it out and mail it in, together with the filing fee and in about a week, you will be an LLC.

    Step 6: Register a Business Name (“Doing Business As”)
    Register your business name with your state government. Go to your states website and then to the Secretary of the State section.

    Step 7: Get a Tax Identification Number
    Learn which tax identification number you’ll need to obtain from the IRS and your state revenue agency. HTTP://www.irs.gov/businesses/small/article/0,,id=98350,00.html

    Step 8: Register for State and Local Taxes
    Register with your state to obtain a tax identification number, workers’ compensation, unemployment and disability insurance.

    Step 9: Obtain Business Licenses and Permits
    Get a list of federal, state and local licenses and permits required for your business.

    Step 10: Understand Employer Responsibilities
    Learn the legal steps you need to take to hire employees. HTTP://www.irs.gov/businesses/small/article/0,,id=172179,00.html

  5. MediT says:

    Characterstics of business

  6. - says:

    In economics, a business is a legally-recognized organizational entity existing within an economically free country designed to sell goods and/or services to consumers, usually in an effort to generate profit.

    In predominantly capitalist economies, where most businesses are privately owned, businesses are typically formed to earn profit and grow the personal wealth of their owners. The owners and operators of a business have as one of their main objectives the receipt or generation of a financial return in exchange for their work and their acceptance of risk. Notable exceptions to this rule include cooperative businesses and government institutions. This model of business functioning is contrasted with socialistic systems, which involve either government, public, or worker ownership of most sizable businesses.

    The etymology of “business” relates to the state of being busy either as an individual or society, doing commercially viable and profitable work. The term “business” has at least three usages, depending on the scope — the singular usage (above) to mean a particular company or corporation, the generalized usage to refer to a particular market sector, such as “the record business,” or the broadest meaning to include all activity by the community of suppliers of goods and services. However, the exact definition of business, like much else in the philosophy of business, is a matter of debate.

    Business Studies, the study of the management of individuals organizing to maintain collective productivity toward accomplishing particular creative and productive goals (usually to generate profit), is taught as an academic subject in many schools.

  7. gandbdirect says:

    Its an Internet Business.

  8. theferrariman says:

    Partnerships can be mutually bennefitial, but make sure about your parner. Think it through.

    Choosing a business partner is something you want to put a great deal of thought into. Like anything else, having a business partner has an upside and a downside. So before you sign those partnership papers and head out for a celebratory drink, you want to make sure you’ve chosen the right one for your the business. Here are some questions to guide you in making your decision.

    Are you compatible? Being great golfing buddies does not mean that the two of you will get along well as business partners. You want to be comfortable with your partner and enjoy being around them. Still, in most cases, a too-close friendship is not advised.

    Being extremely close friends with you business partner can keep you from challenging them or offering constructive criticism. This might inhibit your partner also. This can cause resentments to flair up between you that are difficult, if not impossible, to resolve. So when choosing your business partner, make sure the person is someone you’ll enjoy being with, but remember that your business must take priority over feelings and friendship.

    Do you share the same values? A business partner should share your business values. You may not approach business or your work in the same manner, but when it comes to the big picture, like how to grow the business and what the goals of your business are, your partner should be in agreement.

    Sharing the same values with your partner gives both your partnership and the business a better shot at success and greater productivity.

    Is the person’s personal life stable?

    Knowing this is important because too often personal dramas have a way of spilling over into a person’s work life. While everyone will go through times when this cannot be helped, a person whose life is a high drama all the time can be a drain on you, rather than a help. The whole purpose of having a partner is to have someone to share the load. If your business partner is something of a drama king or queen, it’s likely they’ll be unable to give the business the attention and dedication it needs to be successful.

    Do you have a common vision?

    Where your business is concerned, the two of you need to have the same goals and beliefs about what your home based business is about, where you want it to go, and how you want it to get there. Agreeing on these fundamentals can make or break a home based business. While differences of opinion are always going to occur and can even be good in that they may open your eyes to new, better ways of doing things, agreement on the fundamentals is vital to ensuring the business will succeed.

    What skills and abilities will the person bring to the business? This should be a lot more than just wanting to have his/her own business, just like you do. And it’s usually better when the partner has a totally different skills and talents than you have. If both of you are only interested and capable of doing the exact, same tasks, then the business will not be a well-rounded one. This can also cause jealousy down the road when one of you, perhaps, gets more recognition than the other. Good business partners have abilities that complement each other—much like they do in a good marriage!

  9. aneesh says:

    what is difference between an MBA college and a Business school.

  10. ViyomaR says:

    Business School is a school where they teach on how business in corporates is managed and handled.

    Since Business is all about Management of various resources, the courses relating to business handling are called “Management Courses”

    Places/institutions that teach/ educate people on such Management Courses are termed Business Schools.

    They teach – hence they are Schools
    Their core subject is Business – Hence they are called Business Schools.

    MBA College, Business School are one and the same. Some prefer to call it as a College, some like to refer as School.

  11. admin says:

    small business ideas for women

  12. Henry says:

    You are the only one that can figure that out as everyone’s abilities and knowledge are different. Find an unmet need that is also something that you like to do. Complete a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis http://www.businessballs.com/swotanalysisfreetemplate.htm and write a business plan to prove that the business idea is workable. Go to http://sba.gov/smallbusinessplanner/plan/writeabusinessplan/index.html, http://www.bplans.com/ or http://www.score.org/template_gallery.html for instructions on how to write a business plan and sample business plans.

  13. admin says:

    small business should i start

  14. Henry says:

    You are the only one that can figure that out as every situation is unique. You need to find an unmet need that is also something you like to do. Complete a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis and write a business plan to prove that the business idea is workable. Go to http://sba.gov/smallbusinessplanner/plan/writeabusinessplan/index.html or http://www.score.org/template_gallery.html for instructions on how to write a business plan and sample business plans.

  15. nadia_helal says:

    Online business.
    I have a university degree in writing.

  16. missy02151 says:

    ♣ How many small businesses are started each years?

    About 600,000 new businesses are started each year.

    http://seattletimes.nwsource.com/news/business/small/

    ♣ How many fail within two years?

    over 50% of small businesses fail in the first year
    http://usgovinfo.about.com/od/smallbusiness/a/whybusfail.htm

    ♣ Why do you think they fail?

    reasons for small business failure:
    1. Lack of experience
    2. Insufficient capital (money)
    3. Poor location
    4. Poor inventory management
    5. Over-investment in fixed assets
    6. Poor credit arrangements
    7. Personal use of business funds
    8. Unexpected growth
    Gustav Berle adds two more reasons in The Do It Yourself Business Book:
    9. Competition
    10. Low sales
    http://usgovinfo.about.com/od/smallbusiness/a/whybusfail.htm

    ♣ What is a business opportunity?

    A business opportunity is a packaged business investment that allows you to start the business. Unlike a franchise, the business opportunity exercises no control over you or your company. There is no continuing relationship. This is good if you want an in-road to starting your business and refuse to give up your freedom.

    Business Opportunities Described
    Business OpportunityDescription
    CooperativesAn existing business that allows another similar business to affiliate with it and others, usually in a network of similar businesses.
    DealersIndividuals who purchase the right to sell products put out by other companies, such as vitamins or holistic medicines. The individual often advertises themselves as an authorized dealer. A distributor sells to dealers and a dealer sells directly to customers. The terms are often used interchangeably.
    LicenseesIndividuals who purchase the right to use the sellers trade name and certain methods, equipment, or product lines.
    Multi-level marketing This is very popular with individuals looking for a part-time, flexible business. The best-known are Avon, Tupperware, and Mary Kay Cosmetics. Typically the individual purchases a sample kit and receives the opportunity to sell directly to family, friends, and personal contacts. Not all states regulate multi-level marketing. At the time of this writing, 25 states had laws in place. The state laws differ in content and definition of terms.
    Vending machinesAn individual who contracts with a vending machine company. The company provides the machines and the locations; the individual restocks them and collects the money.

    http://www.nnba.net/job_options_within_nursing.htm
    ☺List some examples.

    ♣ Where can find information on different business opportunities?
    http://www.nnba.net/job_options_within_nursing.htm

    ♣ What is a franchise?

    Franchising is a form of business in which the owner, or franchiser, gives license to distribute products, services or methods of business to affiliated dealers, franchisees. In many cases franchisees are given exclusive access to a particular geographical area. The franchiser usually mandates uniform symbols, trademarks and standardized services.

    http://well-net.com/work/selfem11.html

    ♣ Would it be easier to start a business with you own idea or with an idea already established?

    I think that I would be easier to start a business with an idea that has already been established.

    Advantage – The idea is already made for you
    Advantage – For can asked the other people with the business with the same idea some questions.

    Disadvantage – Some people what to have an idea that know one has
    Disadvantage – Some people will mistake you for the other person that has the same business with the same idea

    ☺ List some advantages and disadvantages to both.

    ♣ How do you get funding for your business idea?

    You can get funding for your business idea at the bank

    ♣ What legal issues do you need it consider when starting a business?

    There are a multitude of legal issues to think about when it comes to starting your business. Everything from your business name to its structure to its operation has legal implications. What follows is a sampling of some of the legal concerns you may want to address with your attorney before you start your business.
    Your Business Name
    You will need to make sure that the business name you plan to use is not already being used by another business. You can do this by doing a name search with the appropriate state agency, which is usually the office of the Secretary of State. If your chosen name is not already in use, you can reserve it with the Secretary of State’s office for a period of time, about 120 days, while you prepare your articles of incorporation, articles of organization, or a partnership agreement.
    Your Business Structure
    You will need to decide which business structure best suits your business. Your business could be structured as a sole-proprietorship, partnership, limited partnership, corporation, S-corporation, or limited liability company. To decide what form is best, you will need to consider liability issues associated with your business and which form will provide the best tax structure for your business.
    Business Licenses
    Depending on what type of business you plan to engage in, you may need a variety of licenses or permits. At a minimum, you will need a business license and tax registration. Read the related article on licensing requirements for more information.

    Non-Disclosure Agreements
    If you will be setting up financing for your business or entering into contracts with suppliers, you should consider confidentiality and non-disclosure agreements. Since these outside firms will have access to business information that you may want to keep private, you should consider having them sign these agreements. If you are ordering a thousand gizmos for your grand opening, you don’t want the supplier to call your competitor to see if they want a thousand gizmos so that they can offer them on the same day. The more confidential information your business plan contains, the more important these agreements are.
    Zoning
    When you are selecting the location for your business, you will need to make sure it is properly zoned for the type of business you plan to operate. It is not okay to just assume that, if your business is of the same type as the one that is currently there, the zoning is appropriate. Zoning may have changed while the other business was operating, and that business might have been provided an exemption that won’t be provided to yours.
    http://www.alllaw.com/articles/legal/article15.asp

    ♣ What is an equal opportunity employer?
    It is the company’s policy to assure that applicants are employed and that employees are treated during employment, without regard to their race, religion, sex (including pregnancy), color, age, national origin, or physical or mental disability. Such action shall include: employment, upgrading, demotion or transfer; recruitment or recruitment advertising; layoff or termination; wages or other compensation, selection for training, including apprenticeship, pre-apprenticeship, and/or on the job training; and ensuring and maintaining a work environment free of harassment, intimidation, and coercion at all sites and in all facilities at which employees are assigned to work.
    http://www.kiewit.com/info/eoe.html

    ♣ How do you know when you are ready to start you own business?

    Take this Quiz before you start your business and save yourself a lot of grief. You can print it out and write down your answers, or simply come up with your answer and click on our “More to Think About” button to learn more.

    Can you handle not knowing where your next paycheck is coming from? Is Job Security important to you? More to Think About.

    Do you have the cash reserves to pay your (personal) bills for the next 2 years without any salary taken from your business? More to Think About.

    In 5 years how much do you want to be making a year from your business (personal salary)? More to Think About.

    What type of personal lifestyle do you want? Will your business allow for the hours and personal rewards that are important to you? More to Think About.

    Have you been in the “power position” before? Are you a better leader or follower? More to Think About.

    How does your age affect your business decision? The younger you are the better you may be able to handle risk, but how will a business failure or success affect the rest of your life plans? More to Think About.

    Do you have the physical stamina to handle the stress and demands that a business venture will place on you? Business owners tend to need a lot of energy, do you have the reserves? More to Think About.

    Do you love (or at least like) your current physical location? As a business owner, you will become part of the community for years to come. Is this where you want to be? More to Think About.

    How much are you willing to risk financially? Most entrepreneurs put it all on the line (savings, credit, home) and many will lose it all. What can you lose? Are you willing to lose it? More to Think About.

    List the top 5 reasons why you want to start this business. Then take a look at your personal life goals. What conflicts do you see? Can you make changes so that your personal and professional goals are closer to each other? More to Think About.

    Once you are done with this quiz, you need to develop your business plan. The business plan will be the roadmap that your business will follow to success. Visit our Business Plan Area.
    Answer the questions this will give you a little thought in if you ready.

    http://www.womanowned.com/StartingUp/KnowThyself/Quiz.aspx

    ♣ What is a business plan?

    A business plan precisely defines your business, identifies your goals, and serves as your firm’s resume. The basic components include a current and pro forma balance sheet, an income statement, and a cash flow analysis. It helps you allocate resources properly, handle unforeseen complications, and make good business decisions. Because it provides specific and organized information about your company and how you will repay borrowed money, a good business plan is a crucial part of any loan application. Additionally, it informs sales personnel, suppliers, and others about your operations and goals.
    http://www.sba.gov/starting_business/planning/basic.html

    ♣ What are the components of a good business plan?

    Breaking these three major sections down even further, a business plan consists of seven key components:
    1.Executive summary
    2.Business description
    3.Market strategies
    4.Competitive analysis
    5.Design and development plan
    6.Operations and management plan
    7.Financial factors
    http://www.entrepreneur.com/article/0,4621,287323,00.html

    ♣ Why is a business plan important?

    When you look at the statistics of the actual entrepreneurs that actually achieve their goal in having a business last more than the 1st or 2nd year- you see that it is a staggering percentage that you will fail as a business owner!

    None of them planned to fail but not having a detailed 5 year business plan is the surest way to plan on failing. So if you ask yourself as an entrepreneur how important it is to go to the drawing board and make an actual plan you should use this logical reinforcement below:

    When you have an appointment to meet a potential Billion dollar client at their office – does it make sense to not ask them where their address is and how to get there?

    In this case you are the potential Billion dollar man and knowing that you are destined to meet your own destiny as a successful business owner- wouldn’t you want to at least find out in detail of how to get to your destined place?

    Plan before you go… envision the path..have it written…with multiple routes…then execute with complete confidence that your plan will guide you to your destined end-

    http://www.marketingprofs.com/ea/qst_question.asp?qstID=5171

  17. Babecakez_862 says:

    for my business management class.

  18. Mathew says:

    Taxes pose two issues for a business. First each and every tax required of a business is just another business expense. An increase in tax has the same effect as would a raise in cost of goods or the electricity bill. All businesses are there to make a profit. While that profit is not a fixed number that the business must have but it is generally a controlling factor if the business is to continue. A business may be able to absorb a raise in the electricity bill for a short time but sooner or later that business is going to raise their rates. If the electricity bill goes up enough that the increase in fees charged by the business are higher than the market will bear the business ceases to exist. The second problem with taxes are their complexity. Not only is the business required to pay the tax they must also pay someone to determine what that tax is and to keep records to verify that they paid the correct amount. Another business expense. From a business perspective there rarely is any advantage to the business from taxation.

  19. SugarS says:

    what is the franchise business?

  20. admin says:

    Franchise business is a business using someone else’s name. For example, suppose there is a Verizon store. If you purchase that store and operate it as the business owner, it is a franchise business. But if you open and operate your own store using your own name, then it is a standard business. In this standard business you can still be an authorized dealer or seller of Verizon products but it is not until you actually use their name for your business that you are a franchise business.

    To clear it up even more. When you purchase and operate a Verizon store, even though it’s a franchise business, you’re technically not a business person. You are what’s called an investor. Verizon is the actual business and you are the investor investing in the Verizon business. That is a franchise business.

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