New to filmmaking

So me and a few friends have been working on making a film for a while and we finally started shooting a few weeks ago. A friend mentioned a film festival by her and while i was looking through the entry form it asks for a production company. Is this necessary because Me and two friends have been paying for everything and we are broke to this point. I have been acting as the producer and doing all the release paperwork and funding it. so my question is:

Do i need a production company? (if so what how do i start one and what kind of cost is it).
 
I think for the time being, you can just put a random name that you like on the form. It doesn't have to be an official company or anything. Don't quote me on it though. If you start making films regularly and start to make money off it, then maybe you should register it but for now I think you're good.
 
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