On Friday 14 June 2024, the Tax & Business Admin Workshop provided a comprehensive overview of the different legal frameworks available, including Sole Trader, Partnerships, Limited Liability Partnerships, Private Limited Companies, and Social Enterprises, each with distinct advantages and disadvantages.
We discussed essential aspects such as tax obligations, VAT registration, and the importance of insurance to protect business assets. Additionally, we covered practical topics like book-keeping, the need for professional advice, considerations for business premises, and ways to enhance productivity through effective business administration. Participants left with a clear understanding of the steps needed to establish and grow a successful trading business, armed with valuable resources and actionable insights.
At the end of the session Chris Churchman asked all attendee’s to share one thing they will take away from the workshop and apply to their business, some responses included looking into accounting software, Finding a business address and Insurance.
This workshop provided essential knowledge for setting up and managing a trading business effectively.
For those interested in future workshops, please visit our business to business support webpage.
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