Step 2: The legal form of your business
Before you get started, you will need to determine the legal status/company structure of your business. Among other things, you can start as a full-time or part-time self-employed worker (i.e. in a primary or a secondary occupation) or as a self-employed worker's assistant.
In addition, you will need to determine the structure of your business: either as a one-man business (natural person company) or as a company (legal person). It’s not a decision to enter into lightly, or one that should be made without sound counsel from business experts. Not only will this decision have an impact on how much you will pay in taxes, it will affect the amount of paperwork your business is required to do, the personal liability you face and your ability to raise funds Read on.