What is a Private Limited Company? Why not ask Nasa!
If you are new to contracting, you will currently be bombarded
with decisions and choices to make. It can be extremely
daunting as getting it right in the early stages is critical to an
effective business. The problem is, if you are new to contracting
you don't want to rush things and end up choosing the wrong path
for you. You need to take your time researching all the
available avenues. Private limited companies are the most
common way to contract but "what is a private limited company?" you
may be thinking. Well, a private limited company is usually a
fairly small business that is often ran by a family or small group
of owners. In fact, in this industry, they are usually one man band
companies. Owners and managers draw salaries and are only
liable for the business up to the amount that they have invested in
the company, and are not liable for the debts incurred by the
company unless signing a personal guarantee.
There are many things to take into account when running a
private limited company which is why it can be a good idea to get
some professional assistance when starting out, just to get you up
and running in the right direction. Don't be afraid of asking
questions like "what is a limited liability company?" as
understanding things properly is imperative if you're going to be
successful. At Nasa Consulting, we have worked with
contractors for years. We offer limited company formation
services, private limited company accountancy services and we have
our own umbrella solution - we pretty much take care of all your
contracting needs.
If you would like some general advice or information about
setting up your own limited liability company or would like to
understand what other options are available, please do not hesitate
to contact us on 0117 904 7755 or at info@nasaconsulting.com,
we are always happy to help.