Company Bug Informs UK Contractors of Favourable Climate for 2013 Business Formation
Simplification of the incorporation process via The Companies Act, low filing fees and an improving economy are cited by the limited company information website.
London, UK -- After monitoring small business trends for 2013, Company Bug is letting UK businesses, contractors and consultants know that 2013 may be a record year for new company formations in the UK. The website provides entrepreneurs, contractors and consultants with the information they need to set up and run a limited company in the UK, together with insights into relevant business and tax issues.
As in years past, the start of a new year creates fertile ground for business owners and entrepreneurs to set up a new company. In fact, Company Bug has been spotting trends that point to 2013 seeing a significant increase in the number of new companies formed. For Company Bug Founder James Leckie, helping limited company owners is at the heart of all of his endeavours. “We always see a spike in company formation numbers at the start of a new year, as people seek a fresh start after the festive season,” said Leckie.
The information website team bring their own experiences of setting up and running small limited companies to bear in gathering the website’s information. This is supplemented with the input of industry experts. Leckie has also set up some of the leading business advice sites in the UK including Contract Eye (an IT contractor portal), ITCA and Bytestart.
According to Leckie and his team, there are a number of factors that are coming together to suggest an increase in newly formed companies in 2013. First among them was the simplification of the incorporation process via The Companies Act, which was implemented in stages between November 2006 and October 2009. This included the easing of the regulatory burden on limited company directors, simplified reporting requirements, and allowing companies to be run without a company secretary.
Also contributing to the favourable climate is the ability to complete an online application via Companies House in 15 minutes, using model articles of association, and easier communications via the WebFiling system. The low fee of £15 for those deciding to form a company directly via the Companies House Web Incorporation Service is also an incentive for would-be entrepreneurs to form a company.
When it comes to the economy’s contribution to the projections for new business growth in 2013, the latest Office of National Statistics ONS business survival data shows that the gap between business ‘births’ and ‘deaths is at historically low levels. In addition, macro-economic data shows 0.9 percent economic growth during the third quarter of 2012. “Many factors have come together at the same time—influenced by both economic and legislative trends—to suggest that 2013 will be a boom year for new company formations,” said Leckie. “We hope that our guides can help prospective company owners navigate through the early stages of starting up a new business.”
The Company Bug website also includes an accountants’ directory, umbrella company guides, and the latest tax rates. The website’s experts have also compiled a list of free document templates, business tools and other resources online. For more information, please visit www.companybug.co.uk
About Company Bug:
Company Bug provides entrepreneurs, contractors and consultants with the information they need to set up and run a limited company in the UK. Owned and operated by Contract Eye Limited, the company also runs a number of niche business information sites. They include Contract Eye, ITCA, and Bytestart.
Tel: 0208 144 5046
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