Sole trader vs limited company: Which one is right for you?
You’ve got a great idea for a business, you’re ready to branch out on your own, but how should you structure your new enterprise? Last year there were 5.7 million businesses in the UK, according to official figures, and the most popular choice among them was to operate as a sole trader. Sole traders accounted for 59% of the total, while 34% were limited companies and 7% ordinary partnerships. But what are the pros and cons of these two most common company structures, and how