The UK’s biggest exhibition for anyone starting a business, or expanding an existing business. Supported by a number of high profile business celebrities such as Richard Farleigh, Doug Richard, Levi Roots and Michelle Duberry to name but a few. The show takes place over 2 days and is completely free to attend – and with over 200 exhibitors on hand, and over 100 free seminars it really is a must-visit show for any new business.

At one time, when a business owner had to decide what structure they wanted their company to be based on, usually only two options were available, partnership or corporation. Recently, another option was introduced that many have since taken advantage of and that is a LLC, or limited liability company. Some claim that this type of business takes the better of both the other two and combines them together for a unique business structure. On the one hand you have the benefit of being a corporation, which protects you from personal liability, yet you also have the benefit of a partnership, and are able to pass the profits and losses to the owners without having to tax the company itself.

LLCs are on the rise, as more and more company owners are discovering the savings, flexibility and liability protection it offers. With a smaller company it allows for the avoidance of personal liability, but at the same time, if the venture is not be ready to incorporate, then it is an ideal structure.

You may want to explore some of the advantages and disadvantages of forming a LLC. Most state regulations concerning the formation of this type of business do not reflect the more recent taxation changes and it can be quite a bit more expensive to form this type of company, versus a partnership or sole proprietorship. However, individuals have a limited amount of personal liability, the profits and losses have a different allocation and the IRS will now allow you to choose between being taxed as a corporation or as a partnership.

[Read more →]