Choosing the right Legal Status for your small business

The choice of what legal status to adopt in a new business is often one of the most important decisions a new business owner has to make as the choice could have an important bearing on the future prospects of the business.

Very often the decision about the choice of what legal status to adopt for a (small) business is in response to a combination of issues: -

• Legal issues
• Accounting (tax) matters
• How you, the owner, feels about the future
• How you assess 'risk'
• Where you want to be in the future and what you want to achieve both in the business and in your life
• A wish to be separate from the business
• A desire to be seen as more credible in the marketplace.

If you are considering setting up a Limited Company, whether just to protect a trading name (in which case the Company will remain dormant) or to trade, we would always suggest that you use a reliable Company Formation Agent . In the box below is a Company that we would highly recommend both from our own experience and judging by the feedback we have received from clients of ours.

UKES would always recommend that you seek advice about your choice of what legal status to adopt but, in any event, the Business Information Factsheets below will help you. 

• To download information on setting up as a Sole Trader, click >> HERE
• To download information on setting up a partnership, click >> HERE
• To download information on setting up as a Limited Company, click >> HERE
• To download information on setting up as a Community Interest Company, click >> HERE       
• To download information on setting up a Limited Liability Partnership, click >> HERE    

If you have a question that you would like to ask us we will do all we can to provide you with the answer you need, we're happy to help.  Click on the CONTACT US link to send us a question, we look forward to hearing from you.