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SFIO CRACHOshutterstockWithdrawing from company assets for personal use is common for business owners, as they need income. This process, known as an owner’s draw, can be complex in terms of accounting and tax law. What should you consider when withdrawing money, what types of withdrawals exist, and is…
NDAB CreativityshutterstockAccounting is a complex task and especially entrepreneurs who are just starting their projects can use all the help they can get. With the right bookkeeping software, founders, freelancers, and SMEs have tools at their disposal that make the work easier and less error-prone. What…
Gustavo FrazaoshutterstockNomen est omen: The name of a company should be well thought out. A good company name that accurately reflects the characteristics of the business, products, or services can be invaluable—especially if it is well-known and positively perceived within the target audience. However,…
Billion PhotosshutterstockIf you want to use your company assets to strengthen company funds from your personal account, that isn’t a problem initially. However, you have to know how to record owner’s draws and contributions correctly. It is important that these transactions do not affect the company’s…
marventshutterstockIf several people or entities want to operate a commercial business together, their first step is finding a suitable legal form for their business. An interesting, common solution is a limited partnership. This is comprised of general partners, with unlimited liability, and…
create jobs 51shutterstockThe business structure determines how a company operates in legal terms. It defines the relationship between business owners, shareholders, and the state, as well as its regulatory obligations. Below, we provide an overview of the most common types of business structures in the…
Natee MeepianshutterstockWhether you are starting a company, exploring your current market, or discovering a new one, a market analysis can help you evaluate the attractiveness of a market. A market analysis is a key element of every business plan and makes sure that your idea or your plan is fit for the…
Andrey_PopovshutterstockNumbering your invoices is legally required for VAT-registered businesses in the UK, as per HMRC regulations. For non-VAT-registered businesses, while numbering invoices isn’t legally required, it is considered best practice for efficient record-keeping and tracking. We cover all…
Watchara RitjanshutterstockA limited partnership in the UK offers flexible investment opportunities with limited liability, making it easier to attract investors. Profit distribution can be fully tailored in the partnership agreement, taking into account liability, involvement in the business, or other…
Rawpixel.comshutterstockMembers are essential for clubs and associations. With the wide range of clubs out there, it’s important that organisations make it easy for prospective members to find them online. It’s also important that their websites offer immediate value. Crucial to this is a club domain…