Starting a brand new IT company requires you to jump through several hoops regardless of where you plan on running your company from. Business owners often describe this process as harder and easier than they would have imagined.
When they see the enormous list of necessary tasks sprawled out ahead of them they can feel a sense of overwhelm regarding how much there is to do, but once they actually get started going through these tasks they soon realise that most of them only take a small amount of effort on their part, which helps to push the registration process along much faster.
In reality, the technicalities of starting an IT company are very similar to those involved with starting any company, with the main difference being your potential need for extra space to house any servers you’re running both for yourself, and your customers. In general, the main technicalities of starting your brand new IT company will be:
Registering Your Company
The process you’ll have to take towards registering your company will be sightly different depending on the country in which you’re setting your IT company up. Luckily, most countries allow you to do this online nowadays, which can save a significant amount of time in now having to go backwards and forwards filling out forms.
If you’re unsure about how this process works (or what your answers to specific questions should be) you can hire an accountant (see below) to help complete your company registration process together, as they’ll be fully aware about what pieces of information go where, and can therefore ensure you complete the registration process as quickly, and accurately as possible.
Finding A Chartered Accountant
Even if you don’t choose to enlist the help of an accountant when registering your new IT company, you should start looking into finding one now as you’ll need them working alongside you, and your business, to help with the financial side of things.
In certain circumstances you may have to hire an accountant to verify certain amounts from your business on behalf of your national government, therefore it helps to be on good terms with a local accountancy firm ahead of time. When seeking out the ideal chartered accountant, pay special attention to their:
- Experience: They should make this clear on their website, claiming how long they’ve been in business, and what qualifications they have.
- Number of Services: This is especially important if you’re operating from a small country, as you’ll want them to offer as many services (in one package) as possible. If you require business set up in Vanuatu, for example, it’s not unfair to hope that the same accountancy firm will be able to complete your taxes for you, should you give them the necessary information.
- Customer Reviews: Whether these are placed on their website or you have to search around for them, it’s imperative that any accountant you choose to work with has been getting consistently good reviews.
Looking For Somewhere To Work From
As was mentioned above, when starting a brand new IT company there’s a chance that anywhere you work from will need a certain amount of space in which to house any servers necessary for your work, which takes working from a co-working space out of the question. Wherever you choose to work from, make sure it’s a legally sound location with regard to government specifications for the country you’re operating from.
In conclusion, there are several hoops you have to jump through when starting a brand new IT company regardless of where you’re planning on running it from. Three of the most significant involve registering your company, hiring a chartered accountant, and looking for some working premises.