One of the first decisions to be taken when establishing a business is the type of trading vehicle which is best suited to your circumstances and objectives.
You may wish to trade as a sole proprietor or, in partnership with colleagues or, as a limited company. If partnership is an option you can choose a "traditional" partnership with unlimited liability for the partners or you can establish a limited liability partnership.
In addition to your own inclinations your choice may be influenced by those whom you will invite to provide you with financial backing, be that private or venture capital.
The potential tax liabilities (and benefits) which each structure offers may also influence your choice.
One of the first decisions to be taken when establishing a business is the type of trading vehicle which is best suited to your circumstances and objectives.