Starting your own business? - BrokeInLondon

Starting your own business?

Sole Trader or Ltd Company?

Are you thinking to start and run your own business? Starting your own ‘thing’ can be both fun and stressful at the same time. Just google it and you will find a ton of stories and each story will give a different perspective. However all of the entrepreneurs out there will definitely agree in this one: There are some important  things that you must consider before taking the step. For example a simple but also tricky question that you’ll have to deal with is: Sole Trader or Ltd Company? Don’t get stressed if you have no clue, you just need to spend a couple of hours to find out about the basics about setting up your own company in the UK.

It’s super easy to open a Limited company and if you want our honest opinion you could easily do it by your self (it can be a waste of money to pay anyone else for doing this for you). As we already stated before, you will just need to spend some time (1-3 hours) to understand the basics and then the whole procedure to open the company will just take a couple of minutes. The best thing is to have a look at the Government’s guide which explains everything you need to know.

However, if you are scared to take this path on your own you could ask a company formation and start-up specialists to do this for you. There are plenty out there, so it would be good to have a look at review websites such as to see what other users saying about each company. That’s all! Good luck!