How would for Website business

Hi there

I have been a sole trader (self employed) for some time now, and I've been running a small website design business. So far I have a few clients who are happy with my services e.g. website, etc (Well, I hope ). With so much competition out there, I have an overall plan, but at this stage I decided to keep my vision small until my business gradually grows in due time.

My questions are:

1. Would you build your small business and register as a company? If so, when is the best time to change from a sole trader to a company?

2. Is there any other advice that may help??

 

Hey guys, just wondering if anyone has any suggestions about going from a small business (sole trader) to a registered company?

Damn! I saw my title on this thread, and can't change it, no wonder why no one hasn't replied yet

I really appreciate your help.

Thanks.

 

It's difficult to advise on whether you should turn your business into a company, without knowing the geographical area you operate in.

In the UK, it brings with it certain responsibilities like filing accounts and annual returns etc. So I think it's a difficult one to answer on a single forum post.

On a side note, I would say why don't you decide how big your business is going to grow - and then let that help you with the answer. Goals help you to focus on the steps necessary to reach them (I'm no life guru).

In my experience, if you are wanting to sell your business to someone else in the next five years - it will probably be much easier through a company.

 

Nicely stated! I never thought about selling my business to someone else, this is certainly something to consider about. I do have big plans for my business, and certainly believe it will prosper in due time. Hmm...might have to go back to the drawing board, and see if there is anything else to consolidate.

 

I love the idea of owning a website that is dedicated to shopping. If you have the products and the ability to set up a competent shopping website you will almost certainly always have a winner. To correctly put this type of website into its own category here I say that it must be a website that has a shopping cart system in place and where you actually pay for the product on that website.