| 06 December 2011
purchase seasoned corporations – Do you want to learn more about “purchase seasoned corporations...purchase seasoned corporations – Do you want to learn more about “purchase seasoned corporations”? If so then this article below may be exactly what you have been searching for…
A seasoned corp, shelf company, or seasoned corp, is a company or corporation that has had no activity. It was created and left with no activity - metaphorically put on the "shelf" to "age". The company can then be sold to a person or group of persons who wish to start a company without going through all the procedures of creating a new one.
In most cases, a seasoned corp has never conducted business activities, have no debts, liabilities or bank accounts. Once the seasoned corp has aged, they are sold to individuals interested in owning an established company with a clean history. Seasoned Corps with credit, make it easier to build corporate/ business credit, qualify for business loans, and opportunities to obtain business contracts.
It is important to choose the age appropriate to your needs. For a building contractor or consulting company the number of years in existence is important to the clientele. If you have been in the construction industry for 15 years, for example, obtaining a 15-year-old corporation may make sense because it corresponds with your time in the business. In order to obtain some contracts, the typical business age requirement is two years. That may not be the only factor in obtaining a bidding agreement, but it may be one of the many check-the-box items, especially, as we mentioned, when your corporate age and business age match one another. Moreover, some report that for a business that wants to build corporate credit, the older the better.
This process of building the corporate foundation can be time consuming but very well worth the effort. If time is important look for a good corporate credit eBook or find a qualified business financing expert to build the foundation for you first before trying to obtain business credit on your own. Those that understand the corporate building process will save you time and money to build the foundation you need to grow, otherwise it could set you back several months trying to correct mistakes. Take your time and create a plan of action. If you do not have the time have someone in your office to monitor the program to meet your credit goals.
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