In this episode, George explains how to choose the right structure for your business. He explains what the different options are and provides you with an overview of each of them. Including, Sole Trader, Limited Liability Company (Ltd) and Limited Liability Partnerships (LLPs). George also talks briefly about VAT and corporation tax.

Please remember that his episode is an overview of the subject and that you should seek professional advice before deciding which business structure to use.

KEY TAKEAWAYS

• A sole trader owns the business, makes all of the decisions and is liable for everything.
• With a limited company, what the business owes or earns is owned by and controlled by the business.
• All companies and sole traders need to register for and collect VAT once they reach a certain turnover threshold.
• Seek your own financial advice before forming your business or registering as a sole trader.

BEST MOMENTS

‘You should seek your own specialist advice. ´

‘If you´ve got money coming into a limited company, that money belongs to the limited company.’

‘If things were to expand and get bigger, that is when you need to start reconsidering how you are structured.’

SOCIALS

https://youtube.com/@0-100KHustle

https://www.facebook.com/profile.php?id=61556119881976

ABOUT THE HOST

Meet George, your podcast host, and a lifelong enthusiastic entrepreneur. George's journey in business has taken him from the classroom to university and through the ups and downs of running both family enterprises and his own ventures. His unrelenting passion for innovative ideas and unwavering determination are the driving forces behind his entrepreneurial spirit.

Despite facing personal setbacks, including a challenging breakup that reset his life to '0,' George sees every obstacle as an opportunity. He's on a mission to transform his life and business. He is inviting you to join him on this exploratory and educational journey.

George believes in the power of community and personal growth. Together, through the "0 - 100k Hustle" we can learn, adapt, and accelerate our paths to success. Whether you're a budding entrepreneur, recovering from business setbacks, or looking for fresh strategies to propel your venture, George is your guide, motivator, and community host.

PODCAST DESCRIPTION

Welcome to the "0 - 100k Hustle" podcast, hosted by George. Join us on an exciting journey through the world of entrepreneurship. We explore the highs, lows, and everything in between. George, a passionate business enthusiast, shares his experiences, insights, and strategies for taking life and businesses from '0' to '100k' and beyond. 

We embrace the truth that setbacks are ‘stepping stones to success’. George's own life was reset to '0' by challenging personal experiences, which mirrors the reality that many face. Through thought-provoking conversations, interviews, practical tips, and a supportive community, we learn and grow together.

Whether you're an aspirational entrepreneur, who has faced business failures, or simply crave fresh inspiration, "0 - 100k Hustle" is your go-to resource. George's engaging storytelling and commitment to community empowerment make this podcast a must-listen for anyone striving to achieve more in a shorter span of time. 

Tune in, harness the entrepreneurial spirit, and embark on your own journey from '0' to '100k' with us.