Proprietorship, single owner Partnership LLP One Person Private Limited Private Limited Company Limited Company or Public Limited Company, beacuse Share capital was invested by Public
And here is me in drawdown thinking that like man..fuck it lets lose it..and he is Don telling me to get out of drawdown, man i was about to lose it..thank you guys for this one..i hope i make it out of the drawdown😊😅
I am part of a small startup. The partner with the biz idea holds the majority percentage. The investor holds next and is mostly hands off, I hold lowest. The majority partner tends to treat me like since he holds the most and titles himself CEO, I should not question any authority or “talk back” when I have been accused of doing something untrue, or try to give my feedback/opinion. To just “fix it”, “educate myself on not being insubordinate” because I want to explain my processes -but instead am silenced and told my opinion/voice doesn’t always matter and to know my place. Am I missing something in the structure? Is this the standard that majority owner treats the lesser more like assistants in how they want to be spoken to and expectations? I keep being told to brush up on business structure, but am having a hard time finding anything on this partnership dynamic. Would love your feedback.
This is a little out of our lane but here is our thoughts. I would say that understanding the structure isn't the problem here it 'sounds' like you are being treated badly by a business partner who has an autocratic style of management. If you are not happy with it then you need to make a change. Thanks for watching our video 😁
Hi Sandra, it's quite a complex decision to make and it isn't as simple as just paying less tax, but that can certainly be one of the key advantages dependent on the business. As a ltd. business, you must pay corporation tax, but will also have more paperwork and legal responsibilities etc. Accountancy fees also tend to be higher for Ltd. businesses, so it's very important, the pro and cons are considered carefully before a decision is made. This link is very useful if you would like to find out more: www.startupdonut.co.uk/set-up-a-business/setting-up-a-limited-company/should-you-trade-as-a-partnership-or-limited-company
Exerlent thanks.. Need to work on my spelling! How do you have a main company with your own seperate sub companies? Can a company go from a Sole trader to a limited company?
Great question, once you have a company you can start looking at setting up subsidiary companies which operate under your main company and yes you can go from sole trader to a limited company 👍
Yes due to globalisation, many businesses now operate on a multinational basis. Many of these fall into the franchise remit but this isn’t always the case.
From an accountant but there's also lots of information available via Google etc. which will help you find more about this. This article may also help: www.thefriendlyaccountants.co.uk/limited-company-vs-sole-trader/
I’m about to start up my own SEO digital marketing company but am still unsure on which route to take . While at first it will just be me running the company and will be outsourcing some of the tasks to a team I have built up over a number of months. In the future I will have in-house employees. Would you recommend setting up a lTD company?
If you aren’t sure I would suggest you speak to a qualified business advisor as there are different implications in terms of tax etc that you may need to consider 😁
