Whether you are in the process of setting up a partnership, you plan to set one up in the future or you are already established, Ayoks Consulting can help you to get more from your business.
Our specialist accountants are ready to help make your partnership a success by assisting you with all of your accounting and tax requirements.
Why Run a Business Partnership?
Partnerships are popular for several reasons. To start with, they are relatively easy to set up, and as long as you draft a good partnership agreement, the process should be fairly simple. Borrowing money can sometimes be easier when you have more owners, so if you plan to raise capital for your business, a partnership may be a suitable option. At the same time, having more owners for your business means you have a larger knowledge base and more experience, which can help you to make your business a success.
Challenges for Partnerships
While there are many potential benefits to starting a partnership, there are also challenges. You are all liable for the actions of the business, for a start. But at the same time, as a partner, you are liable for the actions of the other partners.
You will also have to share decisions, so you may have less control over the final say, and this can lead to disagreements. Decision-making processes are sometimes longer as well.
How We Can Help We can help you with all of your accountancy and tax issues when you start your partnership.
We can assist you by providing advice before you launch your business, and we can also help you set up the business. Once you are up and running, we can provide you with specialist advice on growing your business, as well as help with Payroll, Self-Assessment, PAYE and more.
We are here to help you with all of your tax and accountancy requirements whether you are considering setting up a partnership or you already have a business. Contact us today with any questions you have, and we will be happy to help.