The general meeting is the supreme authority in a private limited company. The general meeting elects the board. The board must consist of at least one member. The board is responsible for administering and managing the company. In turn, the board can opt to appoint a general manager who will be responsible for the day-to-day operation.
Running your business
There are no laws which govern how you should run and organise a sole proprietorship. The owner of a sole proprietorship represents the enterprise externally, and no distinction is made between the sole proprietorship’s finances and your own personal finances.
The supreme authority in a general partnership or a partnership with joint liability is the partners’ meeting. It consists of the partners, and it is the partners collectively who can take decisions. The partners’ meeting can take decisions regarding all matters, but the partners can also opt to establish a board to take responsibility for managing the company.
The articles of association establish the framework for the way in which an association must be organised, and the rules that apply to the association.
The board is more than a mandatory task, and an efficient board can be a resource for the organisation. It is therefore important to be aware of how the board should be organised and what competences the board members should possess. This text has been written for the work of boards of private limited companies, but is also ideal for use as a starting point for corresponding work in other organisational forms.
Once you have got through the initial start-up phase, it can be a good idea to set further targets for your business and plan what you will need to do in order to achieve these targets. Budgets are a useful tool in this context.
Statistics Norway (SSB) has primary responsibility for preparing official statistics in Norway. Most surveys are conducted monthly, quarterly or annually.
Sole proprietorships, businesses assessed as a partnership, co-operatives and NUFs (Norwegian-registered foreign companies) which carry on activity in the sense of the Tax Act may, subject to certain rules, be converted to a private limited company tax-free. The conditions for tax conversion include a requirement for the limited company to be newly established, the limited company to take over the assets and liabilities of the existing enterprise and the enterprise that is converted not to be closed down or cease operating before the conversion.
Nettsider, brev og andre forretningsdokumenter (fakturaer, ordresedler, kreditnotaer og lignende) skal alltid inneholde foretakets navn og organisasjonsnummer. Konvolutter og reklamemateriell regnes ikke som forretningsdokument.
A registered sole proprietorship, general partnership or limited company cannot change the form of incorporation and retain its organisation number.
If there are changes to the information recorded about your company in the Brønnøysund Register Centre (company name, board of directors, business activities, address, e-mailadress, phone, etc.), this must be notified via the form, Coordinated Register Notification ("samordnet registermelding"), in Altinn. That way, many public authorities will receive knowledge of the information.