♦ 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?’
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♦ 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.
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♦ 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
