Setting Up Your Business.

Between the tax and legal obligations, the idea of setting up a business can be daunting.

We are here to help turn your dream into reality. By sitting down with our corporate team, we can get to know your business and what your plans are. Understanding your business allows us to advise you on the two most important parts of setting up your business;

Choosing the right business form

Funding through investment or borrowing money.

Choosing the right business form can make a big difference in the medium and long term. You need to think about;

  • Limited liability – protection for the owners from the liabilities of the business.
  • Flexibility – how easy is it to expand or borrow?
  • Tax treatment.
  • Presentation.

What are my options?

Sole Trader

Limited Company

Limited Liability Partnership (LLP)

Traditional Partnership 

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.