We are now... a limited company with equal shareholding between all four members.
We initially decided to run as a partnership due to the equal opportunities it offers. However, after looking back at my research and requesting advice from my parents (as my dad has set up his own business), we decided to look at becoming a limited company due to the multiple benefits it offers.
Reasons why:
- Liability is limited, which protects your personal assets from your company's debts, and means that your company can apply for credit, loans and mortgages in its own name.
- Because limited companies have records with Companies House, they are often seen as a more reliable and secure option than non-limited companies.
- The availability of your company's records may help creditors and customers build up a sense of trust and faith in your business.
- Being a limited company also protects your company name so that no other company can use it.
Source: duport.co.uk
No comments:
Post a Comment