New Businesses require detailed business plans, primarily so that you know that your business idea is viable and that you have reliable plans for use in fund raising. At the same time, you will need to decide on your business structure – self-employed, limited company or limited liability partnership.
Business plans are not just for new businesses. Without a clear plan for the future, how will you know where your business is going and how to measure your progress.
New limited companies should be structured taking into account exit plans, inheritance tax, the proposed income splitting legislation and whether you will reward directors, investors and employees with share options.
We are in the process of finalising this page, but would be delighted to talk to you if you would like some additional information or advice on this subject.