Limited Companies

  Does this apply to you?

One of the biggest decisions a budding entrepreneur or businessman has to make is to decide what kind of company structure he envisions for his future business.

There are several options open to entrepreneurs who are forming their startup business. The options open to the entrepreneur are:

  • Form a Limited Company

  • Sole Proprietor/Partnership

Each of these options have their own benefits and limitations, it is up to the entrepreneur to decide what structure will benefit him the most:

Limited Company

A big number of entrepreneurs opt top form a limited company. A limited company gives business owners more tax advantages and also transfers any risks from the individual to the company.

Setting up a limited company can be done either online or hire a company formation expert to do it.

Accountants can also do the task for setting up the limited company for free but based on the condition that the entrepreneur will sign on as a client. An entrepreneur can choose this option if he already has an accountant whose service he is satisfied with.

The next step to do after forming a limited company is hiring a company secretary. The secretary fulfils a legal limited company formation requirement of recording company meetings and performing administrative responsibilities. Since this role is only minimal and not a crucial position. A lot of business owners usually appoint a business partner or parent for this position.

Tips and guidance on setting up your new company

 

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Applicable to:  
Businesses Businesses
Individuals Individuals
New Startups New Startups