{"id":180014,"date":"2023-03-14T00:53:35","date_gmt":"2023-03-14T00:53:35","guid":{"rendered":"https:\/\/legalvision.co.uk\/?p=180014"},"modified":"2025-12-15T23:54:11","modified_gmt":"2025-12-15T23:54:11","slug":"company-structure-growth","status":"publish","type":"post","link":"https:\/\/legalvision.co.uk\/business-structures\/company-structure-growth\/","title":{"rendered":"Structuring for Growth in the UK: Why a Company Structure is Better"},"content":{"rendered":"\n<p><span style=\"font-weight: 400\">If you are starting a <a href=\"https:\/\/legalvision.co.uk\/startups\/setting-law-firm\/\">new business<\/a> in the UK, it is essential to consider <a href=\"https:\/\/legalvision.co.uk\/business-structures\/your-business-structure\/\">what structure your business will take<\/a>. Business structures can vary from simple structures, like a sole trader, to slightly more complex structures, like limited liability partnerships. The best option for you will depend on what you want to gain from your business, the type of support you want, and any limited liability or tax benefits from different structures. In this article, we will discuss how a company structure can help facilitate high growth for your business.&nbsp;&nbsp;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span style=\"font-weight: 400\">When to Decide on Company Structure<\/span><\/h2>\n\n\n\n<p><span style=\"font-weight: 400\">When starting a business, the <\/span><a href=\"https:\/\/legalvision.co.uk\/corporations\/business-structures\/\"><span style=\"font-weight: 400\">business structure<\/span><\/a><span style=\"font-weight: 400\"> you choose is essential from a legal and commercial perspective. The right business structure can accelerate growth and help you reach your business goals faster. <\/span><span style=\"font-weight: 400\">Your choice of company structure will depend on a number of different factors, including:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400\">the size of your business;<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">whether limited liability protection is required;<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">how many owners of the business there are; and<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">your personal goals for the company.<\/span><\/li>\n<\/ul>\n\n\n\n<div class=\"box box--icon box--info\">\n<p><span style=\"font-weight: 400\">It is crucial to obtain professional legal advice when deciding the most appropriate type of company structure for your business. This is because the structure you choose will significantly affect how fast your business will grow and develop within your industry.<\/span><\/p>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span style=\"font-weight: 400\">Sole Trader vs Company Structure<\/span><\/h2>\n\n\n\n<p><span style=\"font-weight: 400\">Most individuals begin their business journey as a <\/span><a href=\"https:\/\/legalvision.co.uk\/business-structures\/sole-proprietorship\/\"><span style=\"font-weight: 400\">sole trader<\/span><\/a><span style=\"font-weight: 400\">. A sole trader is a business structure where one individual owns and operates their business. This means they are responsible for all day-to-day management and operational tasks, and all financial and tax obligations. As a sole trader, you are liable for all business debts but also benefit from all business profits.<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400\">In contrast, a company is a separate legal entity that can be, for example, owned by shareholders. The company itself is separate from those who run or own it. <\/span><\/p>\n\n\n\n<div class=\"box box--icon box--star\">\n<p><span style=\"font-weight: 400\">A company has a structure for managing the business, as well as those who are responsible for day-to-day operations. <\/span>The different levels of responsibility can help clarify the responsibility of each division, freeing up your time to focus on other aspects of the business. For example, with a human resources team, you can focus less on hiring staff and instead think about your product line and how to improve it.<\/p>\n<\/div>\n\n\n\n<p><span style=\"font-weight: 400\">Advantages of a sole trader include:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400\">simple business structure;<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">fewer legal\/regulatory requirements; and<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">complete control over your business.<\/span><\/li>\n<\/ul>\n\n\n\n<p><span style=\"font-weight: 400\">However, running your business as a sole trader will have pitfalls compared to structuring your business as a company, including:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400\">limitations in raising capital\/obtaining loans;<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">personal liability in contrast to limited liability protection;<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">limited collaboration with other business-minded individuals; and<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">running the business off personal finances alone.<\/span><\/li>\n<\/ul>\n\n\n    <div class=\"my-7 lg:my-10 border-y-2 border-gray-100 py-7 lg:py-10 flex flex-col sm:flex-row items-start gap-10\">\n                    <img decoding=\"async\" class=\"w-52 mx-auto my-0! rounded\" src=\"https:\/\/img.legalvision.com.au\/wp-content\/uploads\/sites\/4\/2024\/12\/11035207\/Screenshot-2024-12-11-at-2.51.56%E2%80%AFpm.png\" alt=\"Front page of publication\"\n                 loading=\"lazy\" width=\"208\" height=\"298\">\n                <section>\n            <div class=\"text-2xl font-bold\">Corporate Governance Guide for SMEs in the UK<\/div>\n            <div class=\"body-text\">\n                <p>This guide will help you to understand your corporate governance responsibilities as a director, 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We explore these below.&nbsp;<\/span><\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><b>Limited Liability:<\/b><span style=\"font-weight: 400\"> One of the most important benefits of a company structure is the protection of personal assets. <\/span><a href=\"https:\/\/legalvision.co.uk\/corporations\/limited-vs-unlimited-company\/\"><span style=\"font-weight: 400\">Limited liability<\/span><\/a><span style=\"font-weight: 400\"> protection allows your personal assets to remain separate from those belonging to the company. Therefore, your personal finances are protected from creditors if the company ever incurs large business debts.<\/span><\/li>\n\n\n\n<li><b>Raising Capital: <\/b><span style=\"font-weight: 400\">As a company, you will have a greater chance of securing business loans from banks and the opportunity to enter into new business arrangements with other companies. Capital allows your business to expand and become a well-known name in your industry. If you choose to, you can also <\/span><a href=\"https:\/\/legalvision.co.uk\/corporations\/difference-between-debt-and-equity-investment\/\"><span style=\"font-weight: 400\">raise capital<\/span><\/a><span style=\"font-weight: 400\"> via selling stocks and shares. This is a huge benefit, as sole traders are limited to their own personal finances to run their business.<\/span><\/li>\n\n\n\n<li><b>Succession Planning:<\/b><span style=\"font-weight: 400\"> The law treats sole traders and their businesses as one and the same entity. As such, when the business owner dies, the business dies with them. In contrast, company structures, such as LLPs and limited companies, exist as a separate entity to their owners, providing continuity if an owner passes away.<\/span><\/li>\n\n\n\n<li><b>Clear Management Structure:<\/b><span style=\"font-weight: 400\"> Companies often have a clear management and divisional structure, with defined roles and responsibilities for the owners and managers. There may also be different departments that are in charge of specific projects, helping to streamline the business unit. This can help ensure that the decision-making process is consistent and organised, which can benefit the business&#8217; overall success, especially for large companies.<\/span><\/li>\n\n\n\n<li><b>Tax Benefits: <\/b><span style=\"font-weight: 400\">Depending on the type of company structure, you may benefit from certain tax benefits. To determine which type of structure will benefit your business the most, you should discuss this with a professional expert.<\/span><\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span style=\"font-weight: 400\">Key Takeaways<\/span><\/h2>\n\n\n\n<p><span style=\"font-weight: 400\">Choosing a company structure can benefit your business in many ways, even if you are starting out as a small company. It can assist your company\u2019s growth by providing access to funds and protecting your personal assets through limited liability protection.<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400\">If you think a company structure is a good fit for your business, our experienced <\/span><a href=\"https:\/\/legalvision.co.uk\/business-lawyers-lp\"><span style=\"font-weight: 400\">business lawyers<\/span><\/a><span style=\"font-weight: 400\"> can assist as part of our LegalVision membership. For a low monthly fee, you will have unlimited access to lawyers to answer your questions and draft and review your documents. Call us today on <a href=\"tel:+448081968584\" class=\"AVANSERnumber dynamic-number\">0808 196 8584<\/a> or visit our <\/span><a href=\"https:\/\/legalvision.co.uk\/membership\/\"><span style=\"font-weight: 400\">membership page<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span style=\"font-weight: 400\">Frequently Asked Questions<\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1678754843017\"><strong class=\"schema-faq-question\"><strong>What are the most common types of company structures?<\/strong><\/strong> <p class=\"schema-faq-answer\">The most common types of company structures are sole traders, partnerships, limited liability partnerships and limited liability companies. Each type of company structure will be suitable for different types of business.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1678754856348\"><strong class=\"schema-faq-question\"><strong>What are the disadvantages of being a sole trader?<\/strong><\/strong> <p class=\"schema-faq-answer\">As a sole trader, your business may not grow at the rate you hope. You may also find it difficult to protect your personal assets and secure outside investment. If you have a large number of personal assets, these may be at risk if your business falls into financial trouble.\u00a0<\/p> <\/div> <\/div>\n<div class=\"not-prose m-feedback-prompt\">\n    <!-- Thumbs up\/down bar -->\n    <div class=\"m-feedback-prompt__main\">\n        <div class=\"m-feedback-prompt__title\">Was this article helpful?<\/div>\n        <div>\n            <!--span class=\"m-feedback-prompt__button--text\">Thanks!<\/span-->\n            <button type=\"button\" class=\"m-feedback-prompt__button m-feedback-prompt__button--yes\"\n                    data-analytics-link=\"feedback-prompt:yes\" aria-label=\"Agree\">\n                <i class=\"fa-regular fa-thumbs-up fa-3x\"><\/i>\n            <\/button>\n            <button type=\"button\" class=\"m-feedback-prompt__button m-feedback-prompt__button--no\"\n                    data-analytics-link=\"feedback-prompt:no\" aria-label=\"Disagree\">\n                <i class=\"fa-regular fa-thumbs-down fa-3x\"><\/i>\n            <\/button>\n        <\/div>\n    <\/div>\n\n    <!-- Feedback form -->\n    <div class=\"m-feedback-prompt__form\">\n        <div class=\"m-feedback-prompt__form--thanks \">\n            <div>Thanks!<\/div>\n            <p>\n                We appreciate your feedback \u2013 your submission has been successfully received.            <\/p>\n        <\/div>\n        <form id=\"contact-form\" class=\"m-feedback-prompt__form--form\" action=\"\" method=\"post\">\n            <input type=\"hidden\" id=\"authenticity_token\" name=\"authenticity_token\" value=\"9eb4f72322\" \/><input type=\"hidden\" name=\"_wp_http_referer\" value=\"\/api\/wp\/v2\/posts\/180014\" \/>            <input value=\"https:\/\/legalvision.co.uk\/business-structures\/company-structure-growth\/\" type=\"hidden\" name=\"currenturl\"\n                   id=\"currenturl\">\n            <input value=\"Structuring for Growth in the UK: Why a Company Structure is Better\" type=\"hidden\" name=\"currenttitle\"\n                   id=\"currenttitle\">\n            <label>\n                <!-- display on thumbs-up -->\n                <span class=\"m-feedback-prompt__feedback m-feedback-prompt__feedback--yes\">\n                    Can you tell us <span class=\"font-semibold\">why<\/span> you found it helpful?\n                <\/span>\n\n                <!-- display on thumbs-down -->\n                <span class=\"m-feedback-prompt__feedback m-feedback-prompt__feedback--no text-lg\">\n                    How can we better improve this article?\n                <\/span>\n                <textarea name=\"feedbackmessage\" id=\"feedbackmessage\" required><\/textarea>\n            <\/label>\n\n            <div class=\"m-feedback-prompt__form--error\" id=\"form-submit-error\"><\/div>\n            <button id=\"submit-contact-form-button\" type=\"submit\" name=\"commit\" class=\"m-feedback-prompt__form--submit\"\n                    data-analytics-link=\"feedback-prompt:submit\">\n                Submit            <\/button>\n        <\/form>\n    <\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>If you are starting a new business in the UK, it is essential to consider what structure your business will take. Business structures can vary from simple structures, like a sole trader, to slightly more complex structures, like limited liability partnerships. The best option for you will depend on what you want to gain from<a href=\"https:\/\/legalvision.co.uk\/business-structures\/company-structure-growth\/\">Continue reading <span class=\"sr-only\">&#8220;Structuring for Growth in the UK: Why a Company Structure is Better&#8221;<\/span><\/a><\/p>\n","protected":false},"author":13353,"featured_media":3171,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"2534,174891,173037,176749,3682,1469","_relevanssi_noindex_reason":"","editor_notices":[],"footnotes":""},"categories":[36],"tags":[20,21,90,148,342],"class_list":["post-180014","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-structures","tag-small-business","tag-medium-business","tag-company","tag-business-structure","tag-limited-liability"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Structuring for Growth: Company Structure | LegalVision UK<\/title>\n<meta name=\"description\" content=\"Choosing a company structure can benefit your business in many ways. 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