A: There are various advantages and disadvantages to both. Some things to consider could be the following: -
- The type of industry you will be trading in.
- Whether you have any other sources of income outside of the trade.
- The effect it may have on your market position e.g. some of your customers or suppliers may prefer to trade or do business with a limited company as opposed to a sole trader, or vice versa
These are just some of the items to consider. Please get in touch with our team today who can guide you through what’s best for you in your situation.