Copy of Sole Trader vs Ltd (Benefit awareness)
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Now, let’s tally up your answers!
Mostly ‘A’ answers: Sole Trader may be a suitable option for you. It offers simplicity, and minimal administrative requirements, and allows you to maintain complete control over decision-making.
Mostly ‘B’ answers: You might consider registering as a Limited Company. It provides some personal liability protection, and shared decision-making options, and allows for moderate growth potential.
Mostly ‘C’ answers: Registering as a Limited Company is likely the best fit for you. It offers personal liability protection, options for shared decision-making,
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Question 1 of 6
1. Question
How much control do you want to have over decision-making?
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Question 2 of 6
2. Question
How important is personal liability to you?
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Question 3 of 6
3. Question
How much time and effort are you willing to invest in administrative tasks?
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Question 4 of 6
4. Question
How important is maintaining privacy regarding your financial information?
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Question 5 of 6
5. Question
How do you plan to finance your business?
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Question 6 of 6
6. Question
How do you envision the long-term growth and expansion of your business?