Starting a business: 20 FAQs

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1. What choices do I have for the legal form of my business?
2. What are the advantages of forming a limited company?
3. When would it be better to set up business as a partnership?
4. Is it worth setting up a limited liability partnership?
5. What do I do if I want to be in business as a sole trader?
6. What happens if I just start a business without officially setting up as a sole trader, partnership or company?
7. How do I start a new company?
8. What directors do I need for a company?
9. Are there any pitfalls I should look out for if when I buy a new company?
10. What are the company’s articles of association and are there any special terms I should have included in them?
11. Do I need a shareholders agreement?
12. How do we set up a partnership?
13. What should we include in the partnership agreement?
14. What happens if we don’t have a written partnership agreement?
15. What business name should I choose?
16. Can we trade under a different name?
17. Are there any business names that are not allowed?
18. What details do we need on our business stationery?
19. What signs do we need on our business premises?
20. What other legal issues do I need to consider when starting a business?

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