Will forming a limited company improve my professional status?

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I’m having trouble deciding whether or not I should upgrade my business from being a sole trader to being a limited company. As a sole trader, it seems I have more freedom, but I’m aware that it sounds much more official to claim limited company status. Do you know whether that status will actually impact or improve upon my business reputation?

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Yes, limited company formation is one of the best things you can do to boost your professional status and create a credible corporate profile. Many large organisations are reluctant to deal with unincorporated businesses like sole traders, especially if high stakes are involved and there’s the potential for liability claims. By setting up a company, you could open up so many opportunities that are currently unavailable to you.

The commitment and increased regulation associated with running a limited company communicates a sense of permanence and reliability amongst prospective clients and suppliers, many of whom will feel greater confidence dealing with your business if it operates as a limited company.

a year ago
 

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