Hi all

A few questions regarding a new venture im starting up. This will be a part time venture initially alongside my current job.

Currently the business will not generate a huge amount of cash but I can see it growing as I sign up new clients and offer additional services.

Is there any advantage starting the business as a limited company rather than a sole trader. I think a ltd company gives the impression that the company is more professional and protects the company name. Any view on this?

I have other streams of income from another company I work for so my new startup wont generate much cash although this will grow. My main income stream will come from my other job. The startup will begin by generating only a few thousand a year until I expand the client base.

I expect that the accountancy costs for a ltd company (generating a low income) may eat into most of the profits until I expand the business.

Are there any benefits to starting as a sole trader or do you think I should stick to my original plan of a Limited Company.. Or perhaps I should be speaking to an accountant Smiley

Regards

Chris
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