The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

Should I create company Ltd and register a business name first?

Remove ads while supporting the Unscripted philosophy...become an INSIDER.

Enislav Mollov

New Contributor
Sep 27, 2018
3
4
13
Hello,

I have an idea for internet business and web app. I already hire a developer and he is currently working on the web app. My question is: should I create company Ltd and register a business name first, before I release my web app to the world? Or I should start my business as a person and if I the app succeed then create my Ltd and register the business name?
 

Don't like ads? Remove them while supporting the forum. Subscribe.

Davejemmolly

Bronze Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Oct 1, 2018
105
234
162
Australia
In a word, yes!

Regarding business structure, that's definitely a question for your accountant, however I would recommend setting it up in a formal business structure (as opposed to sole trader / owner operator), though this terminology may vary, depending where in the world you are!
 

Enislav Mollov

New Contributor
Sep 27, 2018
3
4
13
I was thinking the same: to start with formal business structure. The thing is that a friend of mine (a lawyer) scares me that in that formal business structure I should implement al kind of documents regarding GDPR regulations aside from GDPR regulations on the web app itself.
 

Sponsored Offers

  • Sticky
MARKETPLACE Fox Web School "Legend" Group Coaching Program 2021
I thought I would post up the first video from the newest 2021 program content... Just a...
  • Sticky
MARKETPLACE Kill Bigger Incubator
I have not offered one of these in a while, but it looks like I have time to take on an...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
Hi Andreas, It is per month, with the first month being half. This is a great question, I...
  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
Hi Lex, I looked at several options including Kajabi and settled on the Divi theme on Wordpress...
  • Sticky
MARKETPLACE Grow Your Business With a Book (An Unorthodox Marketing Strategy That Built One of the Largest...
Are you looking for a new, lesser-known but potentially very lucrative source of leads to your...
  • Sticky
FEATURED! Introducing... WEALTH EXPO$ED, A Short Story By MJ DeMarco
The story is BASED UPON a true story. The details aren't entirely accurate or from a distinct...



Forum Sponsor

Grow an online business:
- Start immediately!
- Master business skills!
- 100+ Fastlane students enrolled!
Review & Details >

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom