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Clear advice to set your business up right
Choosing how to structure your company is a big decision, but it doesn’t have to be a complicated one. We’ll walk you through your options, explain what actually matters, and take care of the setup for you.
What is a Sole Trader ?
A sole trader business is owned and run by one person, who has full control over its operations and keeps all the profits after expenses and taxes are paid. It is simple and inexpensive to set up, but the owner is personally responsible for any business debts, meaning they have unlimited liability. Examples of sole traders include self-employed plumbers, hairdressers, photographers, and online sellers.
What is a Partnership business?
A partnership business is owned and run by two or more people who share responsibility for managing the business, as well as its profits and losses. Partnerships are relatively easy to set up and allow owners to combine their skills, experience, and resources. However, partners are usually jointly responsible for the business’s debts, meaning they may have unlimited liability. Examples of partnership businesses include law firms, accountancy practices, and medical practices.
What is a Limited Business?
A limited company is a business that is legally separate from its owners (shareholders). The company is responsible for its own debts and finances, which means the owners generally have limited liability and are only liable up to the value of their investment in the business. Limited companies can raise money by selling shares and often have a more professional image, but they must meet additional legal and reporting requirements. Examples of limited companies include retail businesses, construction firms, and technology companies.
Testimonial
“When it came to setting up my new company, the process was straightforward. The quotation was competitive, and given the quality and reliability I’d experienced over the years, it was an easy decision to continue working with them”
John
