Starting a Business

If you are thinking of or have recently set up a new business venture, there may be financial or grant assistance available to help you in your new venture that is completely separate from the run of the mill banking facilities and loans (presupposing of course such loans are available).

Crossroads to starting a business

Businesses can be carried out as a Sole Trader (just one person), a Partnership or as a Limited Company. Your choice will depend on various issues; some of which are raised below. Essentially principles for Sole Traders and Partnerships are similar with the only difference being that Sole Trader is one person and obviously Partnerships are where there are 2 or more people involved. The single biggest disadvantage to Sole Traders and Partnerships is the personal liability (which is not limited) of the person(s) carrying out that business.

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