Start on the right foot with Simon & Co
Choosing the right business structure with Simon & Co
Starting a business is exciting, and at Simon & Co, we’re here to make the process a bit easier and a lot more personal. One of the first steps is selecting a business structure that fits your unique needs and goals. It’s more than paperwork; it’s about setting your business up for success from day one.
We take the time to get to know you and your business. We consider everything – your goals, the nature of your business, and your plans for the future. Our team is dedicated to ensuring that the business structure you choose is tailored to your specific needs, balancing legal compliance with operational efficiency and growth potential.
Things to think about…
These are just some factors to consider when making the big decision about your business structure…
- Your income & taxes – Start by thinking about your various income sources and the taxes you currently deal with.
- Keeping it simple or more admin? Consider whether you prefer a straightforward setup or don’t mind a bit of extra admin to save some money.
- What are your plans for the future? Are you thinking of reinvesting, taking some time off, or exploring new opportunities?
- Partners and profits – If you have partners, it’s essential to discuss how you’ll share profits and the flexibility you need in your setup.
- Money matters – Assess your financial needs. Will you require financing to get your business off the ground?
- Risk and responsibility – Think about the risk level of your business and whether you need to limit your personal liability.
- Business identity – Consider whether having a distinct legal identity for your business is beneficial.
- Handling losses – If you expect to face initial losses, explore options for managing and potentially benefiting from them.
Your business, your structure
Choosing the right business structure is a significant decision, and we understand it’s not always easy. At Simon & Co, we’re more than just advisors; we’re your partners, ready to provide the support and guidance you need, with a friendly touch.
Helping you decide – We simplify the complex world of business structures, ensuring you understand all your options and helping you choose the one that’s just right for your unique situation.
Setting up with ease – Whether you decide to be a sole trader, partner up, opt for a Limited Liability Partnership, or go the Limited company route, we’ve got your back. Our services come with clear pricing and flexible payment options, ensuring your setup is smooth and tailored to your cash flow.
Guidance every step of the way – We don’t just stop at setting up your business. We’ll explain what records you need to keep, offer advice on efficient record-keeping practices, and ensure you never miss a crucial tax deadline.
With Simon & Co, you’re not navigating this journey alone; you’ve got a dedicated partner by your side. Your path to finding the perfect business structure begins here, with us.
Frequently Asked Questions
Explore our frequently asked questions to find valuable information on various business topics. Get the answers you need to make informed decisions about your business.
We understand that many promote the benefits of trading through a limited company, often due to higher fees associated with this structure. However, we believe this decision is more complex than a simple list of pros and cons.
Our approach is to engage in a thorough discussion with you, considering various factors to determine if a limited company is the right choice for your specific circumstances. We take into account your business goals, financial situation, future plans, partnerships, and risk tolerance. It’s about finding the best fit for you, rather than a one-size-fits-all solution.