Choosing what form your business should take is a big decision. However, the good news is it’s not one that you have to make straight away. You can start trading as a sole trader, or partnership, by doing little more than getting relevant insurance cover and going out and starting to win work. This tends to be the way that most people start out as there are no additional set up costs and it allows them to test their idea.
As your business grows, the most common next step is to incorporate the business to form a Limited company. The section below highlights the key advantages of forming a company. The decision of whether to incorporate, however, is personal to each situation and will depend on how important each factor is to the business.