One of your New Year resolutions might be to begin thinking about how to take your local community enterprise forward in terms of legal status. with the benefits and responsibilities that entails.
The article looks at the following – setting up as a sole trader, becoming a partnership, creating a new limited liability company or becoming a limited liability partnership.
To help you decide what is right for you the article has a simple, clear grid of advantages and disadvantages for each option.
If you are already trading, or want to legalise your status, this simple, clear article can help.
If you are a local community charity, planning to extend your trading activities or looking to create a social enterprise then you can, like the above, visit the VolResource pages – which offer framing information for charities wishing to register as a limited company or to become a community interest company.
VolResource offers a good stating point to review and make a list of your options as a trustee or director. Always consult the Charity Commission web pages too when doing your research.
The Charity Commission have just launched a new portal for trustees looking to partner, develop their structures and governance etc. This too can be a helpful first reference place to look.
As always, if Sandringham Enterprise can share our experiences and knowledge, just ask us.