Today, we’re talking about keeping your company setup process simple.
1. The golden rule here is to opt for online tools over professional services, like lawyers and accountants. The online tools are usually designed to provide the standard setup that most investors prefer.
2. In the US, Stripe Atlas is a popular choice, which does company setup and also provides a range of services like banking and even server credits. If you’re in the UK, the HMRC site offers a low cost, online setup, with startups often choosing HSBC, Revolut or Monzo for banking.
3. Lastly, even if the lawyer or accountant is someone you know and trust, it’s still better to start with the standardized, online approach and tweak as necessary down the line. I’ve seen “unusual” elements in documents absorb weeks of time as investors try to understand the problem and how to fix it.
Best of luck out there
Sterling Road invests in idea stage and pre-seed B2B startups based in the US, Canada and UK.
