PLEASE READ THIS BEFORE STARTING YOUR BUSINESS REGISTRATION
Some business activities will not get as much funding as others. This is due to banks considering some business activities as high risk business eg: Real Estate Business.
If you are starting a company to invest inreal estate, we have the following suggestion.
1. Register a Company for funding purposes. Like creating a company with business activies that is favourable to banks like: DIGITAL MARKETING.
2. Then register another company for the Real Estate Investing Company.
Its better to register your company with a neutral name that does does tell it activities by the name alone.
ABS HOMES – NOT GOOD ( It sounds like it dose something to do with real estate )
ABS LLC – Better, its neutral.
PLEASE DO THE FOLLOWING BEFORE YOU START YOUR BUSINESS REGISTRATION.
1. Decide what will be the activities of your business.
2. If the only reason you are building business credit is to raise capital, then go with someting like DIGITAL MARKETING.
NAME OF YOUR BUSINESS
Come up with a name of your business. Please try to make it neutral. After you decided on the name of your business, you may want to go to godaddy and check if domain is available for the name you came up with.
ADDRESS OF BUSINESS.
If you will be registering a business doing activies such as DIGITAL MARKETING, the a home address will be fine. We however recommend using a virtual address as your business address.
PROFESSIONAL WEBSITE AND EMAIL:
We recommend using godaddy for your website registration and professional email address. You dgo ahead and get your domain registered and apply for an email at the same time. You can call customer service at godaddy to assist you with setting up your email.
PROFESSIONAL TELEPHONE SERVICE:
We recommend using GRASSHOPPER for your telephone system. Get a local number and an 800 number.
OWNERSHIP OF COMPANY:
If you are using someone with great credit as a credit partner or someone with great credit that is helping you get funded, its important to note that you will have to list that person as OWNER or CFO of company with 95% ownership. Its even better to list them completely 100% ownership and after funding, you can remove them.
CORP OR LLC:
We recommend INC, but LLC is fine too. Its just our preference when it comes to funding but you make that decision with your tax consultant.
NOW, START BELOW STEP BY STEP