~ Taking care of business - Types of business ~

We decided to look at the types of business that can be set up as legally they all work differently depending on context.

Using the .gov website as a reliable source of information we explored each type to find what would be most appropriate to us. 

Our group consists of 5 of us, all would be working full time and accept equal amounts of work load and responsibility in terms of costing. 

We decided a limited company is the best approach for us-

The finances of the business are completely separate to personal finances - meaning if the business went under none of us would be personally liable to pay out

The business is run by 'members' each member accepts a percentage of responsibility for the company, allowing us all to equally own it rather than working below one person