My wife is starting up her own small business, essentially an on line shop. Is there a useful guide giving the advantages and disadvantages of each form since Business Link was closed down?
My wife tells me her potential suppliers will only deal with a limited company. Why would this be?
Many thanks,
Michael
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you can find some information relating to this and various other matters relating to starting a business on my website:
Sometimes businesses will only deal with people trading through a limited company as there is more red tape involved in operating as a limited company. So they believe that if someone has taken the time and effort to form a company, they are more likely to take the business seriously and be less of a risk of being a potential bad debt. It is also easier to obtain credit reports on limited companies as they have to publish accounts at Companies House. Therefore, some people see businesses operating as a limited company as more credible.
What type of business ill it be?
What is she selling online?
I would say it is unlikely at first at least for a company to be the best vehicle of choice