There are a number of important issues that must be considered when setting up a new business. At Setfords Solicitors our experienced lawyers can guide you through this process.
Initial considerations include:
- What business structure should you use:
- Sole trader
- Partnership
- Limited Liability Partnership
- Private Company
- Public Company
- How will the business be funded
- Who will manage the business and how will it be managed
- How will the shareholders regulate their relationship. Should they have a shareholders agreement, and if so what provisions should be included to provide for:
- Distribution of profits and payment of dividends
- Future exit strategies
- Future sale, transfer or issue of shares
- Allocation of powers to company directors or reservation of powers by the shareholders
- Tax the business will have to pay
- Maintaining the businesses accounts
Once the above matters have been considered and the business established, further advice is often required with regards its administration. At Setfords Solicitors our experienced lawyers can advise fully on all aspects of business administration.
If you would like to discuss your requirements in more detail please contact us on 01483 408780 or e-mail info@setfords.co.uk
