The Department for Business, Energy & Industrial Strategy estimates that there were 5.5 million private sector businesses in the United Kingdom at the start of 2016.

Small businesses accounted for 99.3% of all private sector businesses at the start of 2016 and 99.9% were small or medium-sized (SMEs) … The combined annual turnover of SMEs was £1.8 trillion, 47% of all private sector turnover in the UK.

Department for Business, Energy & Industrial Strategy

There are a number of options when adopting an appropriate structure for a business. Companies can be run in a number of ways and there are many factors to consider when making this decision. The choice of corporate structure will determine:

  • Company formation and constitution
    • Articles of association and memorandum of association
    • Model Articles prescribed by the Companies Act 2006 and Companies Act 1985 (Table A)
    • Corporate personality and limited liability
  • Procedure for company administration and meetings
    • Annual General Meetings
  • Management and decision making
    • Directors’ liability and relief
  • Compliance with relevant legislation and regulation
  • Financial liability including personal liability of directors and persons with control
  • Tax and national insurance
  • Which authorities must be notified
    • Registration of a legal charge at Companies House
  • Keeping of records and accounts

We advise individuals from a wide range of sectors and industries on the practicalities of setting up and running:

  • Private limited companies
    • Private company limited by shares
    • Private company limited by guarantee
  • Unlimited companies
  • Partnerships and limited partnerships
  • Limited liability partnerships
  • Cooperatives and community interest companies
  • Charities and other charitable incorporated organisations
  • Holding companies and subsidiary relationships

We also advise incorporated and unincorporated companies and associations in respect of changing corporate structure and the practical effect of doing so.