Number of businesses under one company

Hi

We are doing a retail business registered under our company name. We want to start another business which will involve delivering services.

Can we do 2 different nature businesses(retail and services) under one company?

Please provide some source with your advice if you have.

Thank you.

Yes you can, your main registered company will be the parent company and you can run any number of businesses under it.
When you make a website or invoice someone with other businesses, you need to mention that it is a part of the parent business and give its registration and other details on it.

Hi shrikant ,

And all other expert members of forum please:

Shrikant while going through your comments,I have a question for your and for all other expert members: I recently got visa but the company through which I was registered as director,I want to change the name of the company,can I do this and what will be its effect at the time of extension.The reasons of its changing is to bring other businesses as well under it because the present company name and its services only and only provide the one business service which I don't see to be going well in future and I want to bring other small portion of business under it so that I can invest on all of them plus I can earn some excellent money within all businesses.
So the question whether I can change the name of business and its services or can I include other services in it and if I can do these things what its effect will be on me or on my future extension application.

All expert comments and advises are highly valuable and appreciated with an advance bundles of thanks.

Regards

Extension2013

shrikant wrote:Yes you can, your main registered company will be the parent company and you can run any number of businesses under it.
When you make a website or invoice someone with other businesses, you need to mention that it is a part of the parent business and give its registration and other details on it.

Hi

Thank you for response.

Do I need to open another company for difference nature of business as you mentioned parent company?

Can I run both retail and service business under one company name?

Extension2013 wrote:Hi shrikant ,

And all other expert members of forum please:

Shrikant while going through your comments,I have a question for your and for all other expert members: I recently got visa but the company through which I was registered as director,I want to change the name of the company,can I do this and what will be its effect at the time of extension.The reasons of its changing is to bring other businesses as well under it because the present company name and its services only and only provide the one business service which I don't see to be going well in future and I want to bring other small portion of business under it so that I can invest on all of them plus I can earn some excellent money within all businesses.
So the question whether I can change the name of business and its services or can I include other services in it and if I can do these things what its effect will be on me or on my future extension application.

All expert comments and advises are highly valuable and appreciated with an advance bundles of thanks.

Regards

Extension2013

Hi,

Yes you can change the name of the company, you need to fill some forms to the Companies house, check on their website, dont know the form names on top of my head.
You can have a company called ABC Ltd, then you can open any businesses under that name, so if you open 4 businesses under ABC, 2 may generate profit, and 2 may have loss, but the company as a whole ABC, could be have profit or loss. Also when you submit accounts you need to do that for ABC Ltd and not the individual accounts as you will invoice your customers with XYZ but the money will go into ABC business account. If your thinking of doing this for extension of your current Entreprenuer visa, then sorry am not sure how it would work as the people in UKBA seem to be like stupid morons who want simple things, these things are very easy and dont cause any problems if your a Brit or European. This information I am giving you is from the entreprenuers I know or work with and all of them are either Brits or European, so they dont have any of these problems, I would suggest please consult a good solicitor or it will cause an issue with your visa later, please dont ask me about one as I dont know and the ones I met, are all the ones who want money and have no clue wtf I was talking to them when I explained my business.

helpingperson wrote:

shrikant wrote:Yes you can, your main registered company will be the parent company and you can run any number of businesses under it.
When you make a website or invoice someone with other businesses, you need to mention that it is a part of the parent business and give its registration and other details on it.

Hi

Thank you for response.

Do I need to open another company for difference nature of business as you mentioned parent company?

Can I run both retail and service business under one company name?

Hi,
No you dont really need to as you would just complicate your accounts later.
If you have 2 different businesses, keep one bank account and tell the bank your expanding into other sectors and I guess you can also inform the Companies house, but not sure if you need to as I havent done it myself.
I have a parent company ABC Ltd which i started as an online mkt firm, then told the bank I am expanding into s/w & app devpt, so made XYZ under ABC, and now told them am going into food sector, so created DEF, and all these are under parent company ABC.
Please talk to an accountant, probably who is a friend and ask him all the doubts, am not a solicitor or accountant, but have friends in those fields who advised me for my application and this website helped a lot too.

shrikant wrote:

helpingperson wrote:

shrikant wrote:Yes you can, your main registered company will be the parent company and you can run any number of businesses under it.
When you make a website or invoice someone with other businesses, you need to mention that it is a part of the parent business and give its registration and other details on it.

Hi

Thank you for response.

Do I need to open another company for difference nature of business as you mentioned parent company?

Can I run both retail and service business under one company name?

Hi,
No you dont really need to as you would just complicate your accounts later.
If you have 2 different businesses, keep one bank account and tell the bank your expanding into other sectors and I guess you can also inform the Companies house, but not sure if you need to as I havent done it myself.
I have a parent company ABC Ltd which i started as an online mkt firm, then told the bank I am expanding into s/w & app devpt, so made XYZ under ABC, and now told them am going into food sector, so created DEF, and all these are under parent company ABC.
Please talk to an accountant, probably who is a friend and ask him all the doubts, am not a solicitor or accountant, but have friends in those fields who advised me for my application and this website helped a lot too.

Hi

But why inform bank if you are expanding business? Please explain.

And also you have only one registered company and you have different business running under it?