Documents Needed For Your Startup Company
If you’ve decided to quit your day-to-day job to seek professional freedom as an independent expert, you might find the administrative obligations of a business owner anything but liberating.
Ultimately, you’re switching a job where the only piece of paper you ever had to fill up was your employment contract for a role in which forms will pile up onto your desk.
While it doesn’t mean that starting your own company is all about administrative nightmares, there is no denying that your position exposes you to a new side of the business.
Understanding your administrative duties, and how to manage the many forms your business handles can be challenging, at first. But small businesses don’t have to drown in paperwork!
In fact, the main admin and management forms you are going to see relate to your business structure, your profits, your location, and your use of data.
Here’s a list of documents you might need as a startup.
1. GDPR-friendly customer forms
If your customers are based in the EU, you need to make sure you obey the GDPR rules. Indeed, EU customers can demand the full destruction of their data.
As a result, data privacy can be a delicate matter, which is why if you are collecting customer data, you need to design a form that clarifies the purpose and use of the data.
Your customers should also be able to tick off marketing communication as they fill the form.
2. A confirmation statement
When you open a company in the UK, you will receive a confirmation statement labeled CS01 from the Companies House.
Depending on where you are in the world, you may receive a different document from your local business office, but the principles remain the same.
Ultimately, as this article explains http://wwww.yourcompanyformations.co.uk/ . The confirmation statement is designed to check the information available about your company.
You are expected to fill the form every year to make sure the information about your company is correct.
3.Corporate taxes documentations
Every business needs to pay taxes – unless it doesn’t record any transaction. Where large companies tend to use accounting teams, small businesses and solo entrepreneurs often have to make do without the expertise of an accountant.
Needless to say, if filing up your confirmation statement confused you, you are not going to enjoy filing your taxes.
However, you don’t need to tackle confusing money matters alone. Keeping an organized approach to your receipts and invoices can help you to stay on track.
Additionally, you can use accounting tools that do all the hard work for you and understand the business jargon.
4. Google postcards
Have you received a Google postcard that doesn’t seem to make any sense? When you choose to list your business on Google Maps, you need to verify the address.
Google My Business is a tool that lets you put your company on the map as explained here https://wperp.com/34872/how-to-list-business-in-google-my-business/.
The postcard you’ve received contains a code that you need to enter online to confirm the address.
The postcard can take up to two weeks to reach you, so it’s not uncommon for busy business owners to have forgotten about it by the time it is delivered!
Nobody enjoys administrative tasks. However, they are an essential backbone of your business presence, especially as a startup.
Business owners who take an interest in understanding the purpose of each administrative activity are less likely to stress out about complex forms!