Though these benefits have been known for quite some time now, it was only a few years ago when company incorporation services came to the forefront. The idea of offering consulting services and the related documentation for small-scale companies with limited resources is gaining traction, with significant public investment in both start-ups and existing businesses.
This is great news for those who are starting their own company and wish to register a company in Australia, but what are the benefits of incorporating? To answer this question, we dove into a few sources – Wikipedia, the Incorporation Business Services flyer, and the company’s website to find out.
Worth Of Hiring Company Incorporation Services
We had a look at the Incorporation Business Services flyer and the benefits they tout on their website. What we found is that they promote the idea of providing “customer-focused” services – in other words, services that are tailored to your needs and account for what you’re actually spending. Let’s examine this for ourselves in six areas.
1. Incorporated Company Name Is Protected
None of the services offered by company incorporation services will protect your company from the outside world when it comes to your name and logo. If you’re foolish enough to forget to register a trademark or have that logo stolen, you’re in for a nasty surprise if that’s the case.
2. The Company Has A Limited Liability
Keeping assets and liabilities separate could save you money if disaster strikes – both individually and collectively – but this is not always ideal if you have knowledge of both sides of the ledger.
For example, if you own a company that services home-based businesses, a lawsuit may cause you to lose personal assets that are tied to the business. If you’re the one filing a lawsuit against your business partner and are seeking to recover that money – potentially when it’s not necessary – you’ll find yourself in a scary situation. If you allow the personal assets of your business partner to be tied up with yours, these things could happen without warning and without recourse. You should know when you are going to register a company in Australia.
3. Builds Business Credit History
If your company has never filed directly since its inception or has not been invoiced before or after incorporation through hiring company incorporation services, then this is an area of concern for future revenue collection purposes and for capital requirements for growth and expansion.
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