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Starting a Business

You’ve had a great idea, chosen a name and have started work on your business plan. With so much growth and development happening around Canterbury, Christchurch is a good place to start a business.

There’s more to starting a business than simply filing incorporation papers with the Ministry of Business Innovation and Employment. Godfreys Law have the expertise to help you start your business on a strong foundation.

Company Structure

Do you want to get your business up and running quickly? Do you need investors to get off the ground? Is your business a passion project or an organisation you want to grow?

Sole Traders go into business on their own without registering as a Company. While start up costs are low and you get all the profits, you are also liable for all debts, which might put your personal assets at risk.

Partnerships are where two or more people form a business together. You’ll need a Partnership Agreement to clearly set out how the capital, profits, debts and work will be shared. In a partnership you can share the costs and workload of starting a business, but you may be liable for your partner’s debts too.

Registering a Company creates a separate legal identity from the people who own it. Owning a registered business gives you more credibility in the marketplace, is easier to grow, and comes with some tax breaks. It can be more complicated to set up a Company with directors and shareholders, and there are more regulations than for sole-tradership and partnerships.

Company Constitution

All businesses need to set out the rules for how they will be run. For example with a Company, a Constitution outlines the rights, powers and duties of the board, directors and shareholders, and can be tailored to your Company.

Without one, your Company will be governed solely by the rules found in the Companies Act 1993, which may not take into account the specific nature of your business or meet your expectations.

Real people. Real solutions.

Starting Your Business

Getting your business off the ground can take a lot of time and energy. We can make your job easier by recommending and helping you establish the best structure for your business, circumstances and personal protection.

Working closely with your tax and Accounting advisors, Godfreys Law can help you protect your assets, structure your business, while fixing the procedures and rights for everyone involved. Give your Christchurch business the best start by contacting the team at Godfreys Law on 03 366 7469.