It is accepted that good planning breeds success, and you will likely be considering what is the best business structure for you.
Limited Company?
Partnership?
Sole trader? It is important to decide the best legal and taxation structure for your enterprise.
The most suitable structure for you will depend on your personal situation and your ambitions, objectives and future plans. The decision you make will have repercussions on the way you are taxed, your exposure to creditors and other matters.
One of the keys to success is to get the right structure and it is never too late to revisit and understand personal ambitions and business objectives; and to consider the best format for your particular needs, whether it be as a Limited Company, a Partnership or a Sole Trader.
We have blog articles about all of these, so do take a look.
Need more help?
Whilst some generalisation can be made about starting up a business, it is always necessary to tailor the strategy to fit your situation. Any plan must take account of your circumstances and aspirations. Whilst business success can never be guaranteed, professional advice can help to avoid some of the problems which can befall all businesses. We would welcome the opportunity to assist you in formulating a strategy suitable for your own requirements. We can also provide guidance and advice on bookkeeping, management accounts, VAT return and payroll preparation at an early stage. So if you are starting, or if you have recently started a business contact Argo Business Compliance to find out how our services can assist you.