Jackie said “When I set up my business back in 2011, I had lots of ideas about the direction it might take and how it might grow."
“When deciding between being a sole trader or setting up a limited company, I thought long and hard about what might give me the best benefits and the broadest options in the long term.
As a B2B service, my first instinct was that operating as a limited company would create a more professional image when dealing with potential clients, and I would stand by that instinct all these years later.
As I was planning to expand the business, with all the potential risks that can come with that, I also considered the limited liability and protection of personal assets in the event of the business going into debt to be a wise decision for me.
When I investigated further, it turned out that, in my case, there was a financial benefit for me to operate as a limited company because of the way taxes are calculated; I would always recommend getting advice from the experts when making your decision to find out the financial implications for your business.”