As a sole trader, Anthony J. Warnock has a range of accountancy services that may be able to assist you. Trading as a sole trader is one of the easiest ways to getting started with your business and it has a number of advantages, such as you being in total control, you keeping all of the profit as the owner of the business and there is no need to publicly publish your accounts as is required with other business entities.
However, there are a number of disadvantages to be aware of. As a sole trader, you are personally liable for all business debts and if the business fails, it could have an impact on your personal assets. This could mean losing your home or other assets depending on the nature of any agreements that you have in place. Your personal financial position can also impact on any borrowing for your business and it may be more difficult to raise finance from lenders and banks when trading as a sole trader.
Are you currently or thinking about trading as a sole trader? Anthony J. Warnock can help! To arrange an initial meeting at your premises or home with a free, no obligation quotation call today on 07853 384 014.