Whatever reasons made you decided to run your own business, you have already made most start-up decisions.
You already offer your products or services, you know to whom and for how much you want to sell it, you company has an idea for a name and a plan for business development. Now it’s time for formalities.
In the initial phase of running a business, most entrepreneurs choose one of the two most popular forms of business activity: sole proprietorship or a limited company. Both types of business have their advantages and disadvantages.
We encourage you to get familiar with our quiz which will cast some light on each of the types of business entities.
You need to notify proper authorities when you want to set up a business. In the case of self employment, registration formalities must be completed within 3 months from the moment you started your business. However, if you decide on a limited company, registration should be completed before starting the business.
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