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Factsheets

Forming a business

17 Jan 2017

Whether you are forming your first business or adding to an existing one, it pays to set it up correctly. Choosing the wrong business structure exposes you to unnecessary costs and risks.

Your main options are being a sole trader, partnership, limited company or limited liability partnership. If you are going into business with other people, you also need to address practical issues and your working relationship.


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The information in this guidance is intended for general information purposes only and does not constitute legal or professional advice. The IoD does not accept any responsibility for any loss which may arise from relying on information contained in this article. It is not a substitute for legal advice and specific and personal legal advice should be taken on any individual matter. IoD does not recommend any firms. The IoD is not accountable for the products, services, acts or omissions on the website(s) linked to this page. Website terms and conditions apply.

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