Sole trader vs limited company: Select the best way to walk
If you are a sole trader and think that whether you get the benefits to handle the work by your own or you have to build a limited company for the better exposures in the future. This is the situation your mind is silently playing a game between sole trader vs limited company and no one wins that. Sometime you may think being a solo trader is better because you don’t need to go through any paper work, you earn quite a handsome price and your head is free after completing your work. And also you enjoy the time management as well. But after the while you can think about the benefits of limited company. So, to help you for giving a pause to your thinking, you can read the below write up.
Attract bigger business
If you want to expand your limit, you must think about the limited company because you can meet many clients who are really impressed by your professionalism and your work quality but when they come to know you are a sole trade, they don’t want to do the business with you. Before giving a big project responsibility, they must take a look to your employee strength. So, in this circumstance when the fight between sole trader vs limited company, is going on, always limited company wins the race.
Borrowing power
When you become a limited company, you have the power in hand to borrow more money to expand your office. If the bank needs to choose to sanction the money and have to pick one from sole trader or limited company, then that believes more to the limited company. So, when you think to spread your business, it is better you become the limited company.
Opportunity to Work with many agencies
If you want to be part of different projects and love to get challenges in your working field, then you should go with the limited company because if the agencies need to choose one from the sole trader or limited company, then they love to go with the second option.
Attract bigger business
If you want to expand your limit, you must think about the limited company because you can meet many clients who are really impressed by your professionalism and your work quality but when they come to know you are a sole trade, they don’t want to do the business with you. Before giving a big project responsibility, they must take a look to your employee strength. So, in this circumstance when the fight between sole trader vs limited company, is going on, always limited company wins the race.
Borrowing power
When you become a limited company, you have the power in hand to borrow more money to expand your office. If the bank needs to choose to sanction the money and have to pick one from sole trader or limited company, then that believes more to the limited company. So, when you think to spread your business, it is better you become the limited company.
Opportunity to Work with many agencies
If you want to be part of different projects and love to get challenges in your working field, then you should go with the limited company because if the agencies need to choose one from the sole trader or limited company, then they love to go with the second option.
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