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The 12 Days of Starting Your Own Business. Day 5

Day 5 in our a series of articles covering some of the main considerations if you’re thinking of setting up your own business.

This ones just for limited companies – Standard Industry Classifications [SIC], these are a pre-defined list of categories that your business may fall into.

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Julian Elliott
The 12 Days of Starting Your Own Business. Day 3

Day 3 in our a series of articles covering some of the main considerations if you’re thinking of setting up your own business.

For some, the decision on how to structure their business is driven by how they want to extract the wealth from it, and the taxation consequences. Limited companies allow for you to take a wage, or pay a dividend. A sole trader would have their profit as their income.

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Julian Elliott
The 12 Days of Starting Your Own Business. Day 2

Day 2 in our a series of articles covering some of the main considerations if you’re thinking of setting up your own business.

Having decided that the likely income from your business will be over £1,000, on Day 2 we’ll consider whether to be a sole trader / partnership or a limited company.

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Julian Elliott
The 12 Days of Starting Your Own Business. Day 1

Beginning a series of articles covering some of the main considerations if you’re thinking of setting up your own business.

It doesn’t take 12 days to set up your own business, in fact, it’s a matter of minutes in cases depending on how much preparation work you have done. So, for day one, let’s consider – do you even need to set up a formal trading structure?

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Julian Elliott