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It is important to be aware of the main basic business structures available if you are considering starting a new business. There are three commonly used forms of business structure.
Which business structure is best suited to your new business will depend on a number of factors. For example, cash flow, your longer-term plans for the business, whether or not you need the protection of limited liability, your willingness to comply with legal and administrative obligations of companies and LLPs and the nature of any investment you are seeking to capitalise the business.
Planning before you make a start is essential. Please call if you would like to discuss your options. Getting it wrong can be a painful and costly experience.