If you are considering becoming a sole trader, we can help make sure that you are fully aware of your legal obligations and that you understand what is expected of you before you set up your business.
Once your business is off the ground, our expert team can give you all the legal support you need to make sure that you stay compliant and leave you free to concentrate on growing your business.
Being a sole trader doesn’t mean that you have to run the business yourself, you can choose to employ people to either help you, or to run it for you. Either way, this brings significant responsibilities and legal obligations under employment law.
At the initial stages and beyond, sorting out suitable premises for your business is critical. Our commercial property team can help you with the acquisition of premises whether rented, leased or purchased.
It’s also important to remember that you do not have a separate legal existence to that of your business. You must have insurance as you will be personally liable for any debts, injuries or losses suffered by your customers.
You will need to choose a name for your business, but there are rules that have to be followed. You can search Companies House for more information and check available names. You can, if you wish, use a different name for your business that the one that’s registered, this is known as your business name.
As your business expands, you could consider changing the business format from sole trader. When the time is right, our experts are on hand to help you make the transition to an alternative structure, such as a Partnership, Limited Liability Partnership LLP or Limited Company.
How we can help
We offer a full range of services to help you and your business:
- Terms and conditions of business
- Website statutory disclosures
- Debt recovery
- Leases and property
- Succession planning
If you would like help setting up your business, or would simply like more information about your options, please contact our team today.