Are you trying to decide which is the right business structure for your venture?
Dive into our comprehensive breakdown on the pros, cons, tips and essential considerations for choosing between being a Sole Trader and a Limited Company.
Timestamps:
00:00 - Introduction: Understanding Different Business Structures
00:59 - Sole Trader Explained
01:12 - Sole Trader Pros and Benefits for Your Business
04:19 - Limited Company Explained, Pros and Benefits for Your Business
08:38 - Cons and Drawbacks of Being a Sole Trader
13:05 - Cons and Drawbacks of Being a Limited Company
19:35 - Brief Explanation on Using a Holding Company for Personal Guarantees (PGs)
20:28 - Extra Tips, Considerations and Benefits when Choosing Limited Company
22:09 - Conclusion: Choosing Between Sole Trader vs. Limited Company for Your Business
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