Legal Questions When Starting a Business   

Q.    Which Legal Structure?

A.    You can chose between four main types of business entity through which to conduct you business;
Sole Trader, partnership, Limited Liability Company or a Co-operative.

You need to consider:

• The kind of business that you are starting
• The expectations those with whom you plan to do business(Some business people expect to conduct with limited liability companies and maybe wary of other business entities)
• Your attitude to risk (A limited liability company limits the risk of losing your capital if your business fails)
• How you wish to organise your tax affairs (Limited liability companies are subject to more favourable tax rates)