Establish as Sole trader vs Company being salaried

ragar · 31-07-2015 06:52PM #1

Hi,

I'm a salaried worker who's planning to start a business in Ireland and I have some doubts that you guys maybe can help me to solve before deciding going as a sole trader or establish a company.

What's the best option for keep being a salaried worker and start a business in Ireland?

What if I want to keep being a salaried worker and run the new business but I don't want to appear as a owner or administrator of the new business? Is there any legal formula to operate in such way? or should I establish the new business under the ownership of a third party?

Thanks for any help you may provide.

Regards.

jimmii · 01-08-2015 12:26PM

If you have to hide that is you running the business then you shouldn't be running the business its clearly not the correct way to do things.

Just inform your employer of your intentions to see if they raise any objections and if not then just register the business as normal.

ragar · 02-08-2015 02:20PM

jimmii wrote: »

If you have to hide that is you running the business then you shouldn't be running the business its clearly not the correct way to do things.

Just inform your employer of your intentions to see if they raise any objections and if not then just register the business as normal.

Hi jimmy thanks for your reply.

I agree with you somehow, but what happens if I don't want that the fact of running a business affect to my current situation?
What if I'm trying to create a business to test the option to quit my job in a middle term if everything goes well?
The new business will not affect or interfere with my current position, but I don't want my employer finds out that I'm trying to create a new income sources that eventually might replace my current one.
I'm not trying to hide this fact to my employer because I think that I'm doing something contrary to the company, but as a way to find alternatives for the future and don't create false alarms at job.

Thanks!

jimmii · 02-08-2015 02:54PM

If there is nothing in your contract then just start it up their unlikely to find out very quickly if its a different industry. I would just set it up in the correct name and if they do some how find out then deal with it at the time. It would probably take at least a few months as long as you aren't going round telling people about it and by that time you're likely to have a much better idea whether it is going to work or not.

Establish as Sole trader vs Company being salaried

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