Choosing the right entity can mean the difference between the ultimate success or failure of a new business venture. When setting up a new business, many entrepreneurs will focus on the name, logo, website, premises and staff, and give too little thought to the most appropriate business structure.
Bulldog Law is a breed apart. Setting up a new business can seem complex, but with our legal experience and commercial acumen, we are well placed to advise you on the most appropriate structure for your new business venture. We also offer access to professional company formation services, giving you the peace of mind that your company will be set up properly.
What should you consider when setting up a business?
The most common business entities are:
- Public Limited Company (PLC)
- Limited Liability Company (Ltd)
- Limited Liability Partnership (LLP)
- Sole Trader
These are some of the basic issues to consider:
- do you want limited liability protection?
- is the ownership of the business separate from the day-to-day management?
- which entity is the most tax efficient?
- do you want the ability to raise capital via the sale of shares?
- exit strategy — are you likely to want to sell the business in the future?
Think about how your business will be perceived. For example, a limited liability company is likely to be seen by potential customers, suppliers and banks as a credible, stable business with sound governance, which gives them the confidence to do business with you.
We can assist with:
- company formation
- partnership and shareholder agreements
- service contracts for executive and non-executive directors
- joint venture agreements
- terms and conditions of sale and purchase
- agency and distribution agreements
- debt collection
- contracts of employment
- franchise agreements
- and much more.
We can advise and set up your business with a firm foundation for future prosperity and growth.