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Ltd v Sole Trader

  • 10-03-2009 12:07pm
    #1
    PCPhoto
    Registered Users, Registered Users 2 Posts: 6,584 ✭✭✭


    considering a move from Sole Trader to a Limited Company - anyone willing and able to offer advantages/disadvantages ? I currently trade as a sole trader but have been approached by another business with the possibility of combining forces.

    Is there anything I should consider ?

    (I dont know anything about being part of a limited company)


Comments

  • #2
    swanvill
    Registered Users, Registered Users 2 Posts: 276 ✭✭swanvill


    Hi Loads of info on the thread below.

    http://www.boards.ie/vbulletin/showthread.php?t=2055490732


    LTD might be best to establish exact % of ownership, I would also consider a shareholders agreement for dispute resolution and controlling what your other director will charge against the business profits, e.g s/he charging rent for his/her home office against the company business.


    Another factor you will have to consider is the value of yours & his/her business that you are combining. You should also check with www.cro.ie if the have been disqualified as a director.

    Another business structure you might investigate is a business partnership?

    Best of luck with the new venture.


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