Appropriate Legal Structure
Sole trader/ partnership
A sole trader is a business that is owned by one person who keeps all of the profit and works the hours that they want to. There are good points and bad points about being a sole trader they are you get to keep all of the profits and decide your own hours there are also bad points and they are the responsibility on your shoulders long hours and unlimited liability.
A Partnership is when business is owned by 2 or more people there are good and bad points for a partnership is well the good points are more people to have lots more ideas than you would have if you where by yourself. Bad pints are that there could be disagreements and fights about what you and your partner want.
Limited liability has also got good points and bad points the good points are you raise more money other companies trust you do things and the bad points are you can have a lot of conflicts and you have to show all of your finances like what you have spent all your money on which means people can see what you have brought.