Is this as simple as getting yourself a nice website and registering yourself with companies house? Is there any point to this? I'm thinking the main avenues for our low budget films will be iTunes and selling to TV channels to fill up their schedules and possibly DVD distribution if anyone even buys these in a couple of years time. Appart from having the "prestege" of a bank account with your companies name on it rather than an individuals is there any other advantages for a privately funded film?
Starting a production company
- Thread starter paulbrighton
- Start date
when making stuff to sell, it's important to have a company.. this avoids you to be personally responsible, and able to be sued for everything you own... instead you can only be sued for everything the company owns...
check with your tax government, on how to create a company... and which type would be best for you... it's different from country to country...
check with your tax government, on how to create a company... and which type would be best for you... it's different from country to country...
I asked this question yesterday, as I am wondering the same thing...
A friend of mine sent me this link: http://www.sba.gov/content/5-steps-registering-your-business
I'm just wondering if it's necessary for me, or even worth it. I just want to be able to shoot a film, submit to festivals, and sell it for distribution.
A friend of mine sent me this link: http://www.sba.gov/content/5-steps-registering-your-business
I'm just wondering if it's necessary for me, or even worth it. I just want to be able to shoot a film, submit to festivals, and sell it for distribution.
i know that in denmark, the rule is that if you earn under 50.000kr, that is 8600 dollars a year, then you don't have to have a registerred company...
but the rules are different in each country... so figure out how much you think you might make, and then contact the local authorities that handle businesses. Or find a local starter course on business setup... there should be a ton all over the world.
but the rules are different in each country... so figure out how much you think you might make, and then contact the local authorities that handle businesses. Or find a local starter course on business setup... there should be a ton all over the world.
Hah thats a weird one. So if you have a bad year your not a company anymore and they can sue you for personal stuff? I hardly think that is / should be the case?
Here in the Netherlands its pretty simple, you can choose to set up any form of company pretty much for free (you only have to pay an administration fee). This makes your company legally legit. However, if you want to start a company type that has limited liability (so that you can't get sued for company debts, unless there is a case of severe mimangement by you) you will need a starting capital of 18.000 euro. You dont need to pay those 18k, you just need to have them in order to start the company, many people actually just borrow the money from friends/banks, set up the company and then run the company with way less.
In the UK, do not start a limited company unless you are earning money.
You will be subject to rules and regulations which you cannot even begin to have an inkling of. As an idea, you are probably thinking it is not that bad but bear in mind this is the government you will be dealing with - common sense does not apply to paper pushing government officials.
You will be subject to rules and regulations which you cannot even begin to have an inkling of. As an idea, you are probably thinking it is not that bad but bear in mind this is the government you will be dealing with - common sense does not apply to paper pushing government officials.
Since the O.P. is based in Britain, I can confirm that the BFI will not fund a project unless it's through a limited company. Sponsors, investors, and agents of professional crew won't acknowledge you either.
The answer about liability was already given.
NOTE: when you register with Companies House, you'll be harrangued by a certain company which tries to scare you into buying documents, under the guise of you being fined by the government for not having them.
FVCK that company in the arse! You don't need these obsolete documents and should you ever be asked for them, just type them up yourself in Word or Open Office or whatever you use and hand them in. Sorted.
Oh, and actors will think you're a film student if you don't have a registered company. For £30 or whatever it costs to get one legitimately, if you're serious, it's just plain better to do it.
The answer about liability was already given.
NOTE: when you register with Companies House, you'll be harrangued by a certain company which tries to scare you into buying documents, under the guise of you being fined by the government for not having them.
FVCK that company in the arse! You don't need these obsolete documents and should you ever be asked for them, just type them up yourself in Word or Open Office or whatever you use and hand them in. Sorted.
Oh, and actors will think you're a film student if you don't have a registered company. For £30 or whatever it costs to get one legitimately, if you're serious, it's just plain better to do it.
Never done anything for iTunes so I don't know what their delivery requirements are but I know the UK TV business very well. Unless your films comply with the current standards for whichever TV company you are approaching, your film cannot be broadcast. Depending on the current state of the sound in your films it could be quite expensive just to get your films to the point of being potentially broadcastable.
G
If you plan on making money out of this, contact some broadcasters to find out if they'd be interested in your idea; you'd probably have to sell to several territories to make back your investment - let alone turn a profit - if you're not shooting some low-key drama (such as BBC's daytime TV programmes).