Business Type

How Should I Trade?

When starting up a new business, one of the first questions you to ask is ‘what type of business should I set up?’

    Sole Trader
    Partnership
    Limited Company

LLP is a further option which is a hybrid of a partnership and a limited company.

When venturing into the business world, a sole trader is often the preferred option.

    You can test the water and establish if this business game is really for you
    Its usually cheaper to run, accountancy fees are less than for a limited company, and there is less compliance to deal with
    Easier to manage- less deadlines and more flexibility

However, there can be tax advantages to being limited and there is potential customer perception of dealing with a limited company to consider.

If you’d like to speak to someone to discuss your options- give us a call on 01428 727313

Alternatively go to our Sole Trader, Partnership or Limited Company pages for more information on each business type

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