I'm currently putting together a feature horror film that will be shot in the summer of 2006 (late Jul/Early Aug) and, once its done I want to try to get it into festivals and generate some interest in it (and hopefully, get it sold - its always the dream lol).
I've been told, and read, that one of the best ways to finance and run the making of your movie is to start a business (PLC, LTD etc) to protect yourself and to help make things run smoothly. I'm currently researching into the different possibilities but I'd just like to know if anyone on this board has done this and how it went? Also, any advise on the subject would be greatly appreciated.
Many thanks.
Lee
I know there should be a witty or profound comment here, so here goes...Boobies. Thank you.
I know there should be a witty or profound comment here, so here goes...Boobies. Thank you.
It's normally a good idea to form a company for any venture where there is significant risk (financial, legal etc). The main benefits for doing so are to provide a "clean" way to manage the financials for the production, to provide some liability protection for you personally (i.e. stopping them taking your house if someone breaks their leg on set and sues you for it), and also for tax purposes.
In the UK, you'd be looking at a limited liability company (LTD) as PLC is for listed companies and the regulatory requirements and set-up costs make that type of structure impossible to use for what you're looking for.
The main downside of forming the company is that you'll have to meet the reporting requirements for Companies House and the Inland Revenue (basically, submitting annual acccounts). For more info on forming a company, check the Companies House web site (www.companieshouse.gov.uk). You can also get an agent to register the company for you - the fees range from about ?30 to higher than is worth thinking about.
Ben C.
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Benjamin Craig
Editor-in-Chief, filmmaking.net
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Benjamin Craig
Editor-in-Chief, filmmaking.net
Forming a new company is best way to start a real business. Me and my friend formed a company for our 6 years old project. (Project C??iron) Project C??iron is about creating a world like Tolkien's middle earth.
Currently there are 16 people are working in the company and the company is making realistic 3D animation and computer game. One venture capital and one game puslisher is very interested in us. I am sure we will get funded soon.
Why I told you this story? All the epployees, venture capitals and very famous game publisher is interested with us because of originality of Project C??iron. Before you start a company make sure that you have very strong vision and a very stron project. Than you can form a company and your company will attract professionals, volanteers and financors like flies attrack shit. (Sorry about that)
www.imengi.com
www.imengi.com
Why don't you send the script to a few agents/critiques and get their opinion first?
Cause if, and I do me if it is no good or would probably not sell then you don't waste your time and money on something you will find out further down the road.
Ollie
