What is better solution : Ltd or Partnership?
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elvyn
Apprentice
Joined: 01 Sep 2007
Posts: 3
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 Posted: 04/16/08 - 09:58 Post subject: |
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| I have recently started working on my new business. I will first need to make a business plan. I am aware it is crucial to my success. However, I would like to know what is better solution: ltd or partnership. If anyone could tell me, that would be fantastic. Thanks in advance. |
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alic
Apprentice
Joined: 19 Apr 2007
Posts: 6
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| Posted: 05/16/08 - 02:53 Post subject: |
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| Starting any business is very risky and you have to be very patient and to have some luck if you want to be successful. When it comes to your dilemma, I can tell you that being in a limited company is better in my experience. Having a partner can have some consequences in terms of arguing, fights, different strategies, one partner backing out unexpectedly and similar. Of course, it does not happen very often, but is a sort of additional risk, especially if you have enough funds to start a ltd company on your own. Ltd is great since it guards your personal finances in case of some lawsuit, for example. Best of luck. |
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