Structure of your Business

Structure of your Business 

There are a number of choices that you can make about how your business is structured.  You could be a sole trader, a partnership or a limited liability company amongst a myriad of other options.  An experienced business lawyer will be able to advise you which trading vehicle best serves your needs.  Whilst being a sole trader may be the simplest option, it also carries with it unlimited liability which you may wish to avoid.  It is relatively easy to set up a new company with the assistance of a business lawyer and an accountant and many new businesses are surprised at how cost effective that advice can be.  There are various government funded organisations which provide free advice for new businesses and you should make sure you take that opportunity and always remember if you don’t ask you don’t get.