Hello,
After much personal upset and upheaval (not between us, other family stuff) over the last couple of months, my Wife and I are now edging towards starting our own business.
We both had similar ideas, and I have been working on a business plan. I work 4 full days a week and can dedicate the full extra day, plus weekends, towards it, and my Wife is a full time Mum so can dedicate any time she has to it. I have to be honest, I don't mind doing the donkey work and the brunt of the work afterwards, at least to start with.
It is a cleaning and ironing service - nothing particularly exciting, just something to be flexible around the kids and home life. We aren't aiming to make a fortune (well, not to start with
), just earn a bit extra to help towards the bills etc. We would aim I think to make around 50 to 100 per week, if possible.
Can anyone tell me if we would be better as a partnership or a limited company - I like the advantages of both - the limited company's identity etc and the partnership (as in both self employed really, apart from some minor paperwork). But both also have disadvantages - alot of extra paperwork and expenses for a limited company, and then also the lesser/unprotected identity of a partnership.
I have a feeling that we may be better to start as a partnership, at least to begin, purely down to costs, but hope someone on here might share any experiences or give their opinions? Any thoughts and ideas are very welcome.
Thanks.