7
6 Comments

Did you register as a company?

Did you register a company for your projects? What was the tipping point when you decided to do it? Did you learn anything new in the process?

on August 15, 2020
  1. 5

    I would suggest registering/incorporating the company, only after we are sure that people want our product and when we have business model to create sustainable business; else it will be an overhead consuming time and money which can be best put on developing our product and business.

    But, there are situations where we have to register our company to conduct business -

    B2B, incorporated business creates credibility and makes it easier for out customer to maintain their books.
    • Payment gateways, some PGs expect our company to be registered for their services, especially if we take in international transactions (varies with each country).
    If we want our brand name to be publisher in the Appstore(Apple requires DUNS number of a registered business) or If we want to sell our app/enable IAP for our app at Appstore/Playstore and don't want to display our house address publicly (P.O. Box can be an alternative depending upon your country).

    I've detailed this and more at When to register our startup.

  2. 2

    I have 1 sole proprietorship with 1 stripe account that I use for everything I launch.

  3. 2

    Try do it as quickly as possible - the tax write offs will probably cover the cost of setting up the company in the first week.

  4. 2

    I havent registered yet. Im relying on paypal invoicing to get by. But I wish there was something like stripe I could use. They require the company to be registered.
    Once Im bringing in consistent money, I'll register and make it better.

  5. 2

    Created it at the start, seemed easier to segment everything from personal expenses.

    But that’s mainly because I already understood how to do it, might not have otherwise.