Sole Trader vs Ltd?

[InternetMarketingPlatinum]

It seems that many business start off as sole traders for perhaps the first three years or so then go limited?

I'm looking for your own personal experiences of what you did.

 

[MartBrooks]

My two partners and I formed a limited company right from the outset. We invested enough money to cover all the running expenses (all worked out in advance) for 12 months. We strictly adhered to our budget, never spending money we didn't have or couldn't afford to lose.

 

[InternetMarketingPlatinum]

My two partners and I formed a limited company right from the outset. We invested enough money to cover all the running expenses (all worked out in advance) for 12 months. We strictly adhered to our budget, never spending money we didn't have or couldn't afford to lose.

Hi Martin, thanks for sharing that.

 

[imaggroup]

We've been running for 4 years as a sole trader and are currently going through the process of becoming a ltd company, for several reasons.

Firstly the accountant advised it to reduce our tax burden, secondly to reduce our personal exposure to the company debts as we expand, and thirdly because we're moving into new premises and hiring our first full time member of staff so it seemed like a sensible time to tie it all up.

 

[altwebdesign]

ive been trading as a sole trader for 3years and my accountant has suggested looking at becoming a LTD this year, especially if my profit has increased