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Company Formation

Setting up a company is a special moment. You and your partners are ready to embark on an entrepreneurial adventure. To get your project off to a good start, it is essential to take the time to choose the best legal form. Then you will need to acquire the various SaaS tools that will allow you to develop your business and boost your visibility and turnover.

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About Company Formation

What are the best tools to use when setting up a company?

To support the growth of your company, various software programs are undoubtedly major assets. These will make your work easier and your business processes more fluid. You will then be able to achieve your business objectives much more quickly.


Quickbooks 

To begin with, you need to keep a tight rein on your accounting. To achieve this goal, Quickbooks is a must. With just a few clicks you can do things that would have been tedious without this SaaS tool. Sending invoices, tracking payments, and reminding customers if necessary is a real pleasure. Invoices and expense reports can be integrated via a simple photograph. Your financial flows can be viewed in comprehensive, user-friendly dashboards. Finally, you can take advantage of automation functions, including VAT calculations.


Mailjet

Next, you will need to launch acquisition campaigns to increase the volume of qualified leads. By fine-tuning your conversion funnel, you can significantly increase your turnover. This is where Mailjet comes in. This SaaS software is ideal for designing attractive and engaging SMS and email marketing messages. You can then send them out in mass to your contact list. Afterwards, data is available to monitor the performance of your campaigns, including acquisition and conversion rates. In addition, your developers can use Mailgun which includes an email API and SMTP relay with 99.9% reliability to ensure successful campaigns.


Hubspot

Finally, integrating a platform like Hubspot allows your teams to centralize their efforts and manage the entire customer relationship in one tool. Hubspot is used from traffic generation to customer service management to quote signing. This way, your company can save time and money by optimizing its operations. The Marketing Automation features in particular are ideal for creating and managing omnichannel marketing campaigns. You will be able to design automated scenarios to contact prospects and bring them to maturity. Thanks to native integrations with many applications, it is possible to gain efficiency without changing your infrastructure or habits.

What are the three main types of company creation?

When starting a business, it is easy to get discouraged by the complexity and number of different forms of company formation. However, there are three main forms of company:

- The limited liability company (LTD)

- The public limited company (PLC)

- The simplified joint stock company


These three types of company have strong similarities. However, there are some differences that need to be taken into account when choosing a legal status.


The public limited company is the most specific. It meets ambitious needs such as the public offering of financial securities. It is also a preferred form if you want to take your company public. However, PLCs are restrictive. At least seven partners must be present to form a company. Similarly, the minimum share capital is €37,000.


LTDs and simplified joint stock companies are much simpler to operate. Firstly, only one person is needed to start up this legal structure. They have many points in common, as there is no difference between these forms of company with regard to:

- The obligation to draw up articles of association

- The quality of the partners

- The contributions to the share capital

- The duration of the company’s life


However, there are some essential differences depending on your project:

- The share capital of simplified joint stock companies is divided into shares. This type of company is managed by a president.

- LTDs, on the other hand, have a share capital divided into shares of the same category and are managed by one or more managers.


Determining the ideal status therefore depends on the initial project that launched the formation of a company. Everything will depend on the objective of the future entrepreneur or the number of partners, as both statutes have advantages and disadvantages. In addition, they are both quick to set up, as there is no minimum or maximum capital. However, it is important to note that the operation of an LTD is more rigid than that of a PLC.

Which legal formation is best for small businesses?

Starting a business requires choosing a legal form. When embarking on a small business project, it is therefore important to study the differences between all the different types of legal form.


The choice depends on many factors:

- The financial commitment

- Assets

- The social status

- But also the number of partners

- Or the type of taxation


Thus, if you want to embark on your entrepreneurial adventure alone, the auto-entrepreneur status is ideal. In fact, opting for a simplified sole proprietorship regime, which is the status of micro-entrepreneurs, offers the most suitable tax system, does not require any drafting of articles of association, and there is no question of share capital. Depending on your professional activity, this may be a very appropriate choice.


However, if you want to set up a larger business or if there are several partners, you will need to set up a company. If you have fewer than 6 partners, a partnership or a limited liability company (LTD) are suitable. LTDs limit the liability to the contributions, whereas in the case of a partnership, the partners are indefinitely and jointly and severally liable for the company’s debts. For this reason, partnerships are only feasible if your partners are trustworthy.


If you have more than 6 partners, have sufficient capital, and are planning to raise funds, a Public Limited Company (PLC) is perfectly suited. This status will easily support a fast-growing company.