Setting Up Your Business.
What are my options?
Limited Liability Partnership (LLP)
Community Interest Company/Other
The number of owners and different tax advantages will be large factors in making the right decisions. We can help you decide which structure is best for your business, draft the documents and deal with all the formalities.
Things you may need to consider.
Are you part of a joint venture?
If there is more than one owner of the business, you are in a joint venture, no matter which type of entity is used. To protect everyone’s interests it is very important that there is an agreement in place which sets out how the business is owned and run. Having these documents prepared for you and our business is vital in a joint venture. A well written agreement solves any issues that may come up.
Investment & borrowing money.
Any business may find it needs funding to start, or grow. The two main options for building funds are;
- Investment (people paying to own part of the business, typically shares)
- Lending (someone, usually a bank, lending money to the business).
You may sell shares. However, “private equity” or “venture capitalists” may be prepared to invest in early-stage or high risk companies who struggle to find other financing, but they will require a high return and control of the business for taking the additional risk. We can advise on all these different forms of funding and the details in the documents which you will be required to sign.