1. Setting up a new business
... words should the business fail then the sole trader is responsible for all debts. All personal assets can be seized to pay of debts. It is advisable to contact a solicitor to secure personal assets. Setting up a new Business Ownership The type of ownership for the business will be a partnership. This is the most obvious choice as there are two people involved, my business ... and theft insurance for £120 p.a. Natwest would offer the compulsory employers liability insurance for £200 p.a. Sources of Finance A bank loan will be initially available to the business. This provides a lump su...
- Word Count: 2165
- Approx Pages: 9
- Grade Level: High School