While the UK is one of the most entrepreneurial countries in Europe, only around half of new businesses survive the first three years. The apparent simplicity, speed and low cost of setting up a UK-based business may give the impression that it's all plain sailing, yet budding entrepreneurs need to be aware that company ownership comes with significant red tape, says Androulla Soteri. Here she explores some of the key aspects you need to consider, including the pros and cons of setting up an unincorporated business, your tax obligations and potential benefits, and the importance of getting your book keeping approach right from day one.
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