Private Limited Company or Self Employed The Pros and Cons of Each Business Setup

It sounds like a dilemma brought from Shakespeare’s Hamlet. Should you choose a Private Limited Company over being self-employed? Today we are going to review the pros and cons for each option, so you can decide which one fits your interests and needs better. Our article has been written to be as complete as possible, yet it’s short and concise. The information shared here will allow you to know which option to choose, because our end goal is to help you to choose the right options, for a successful entrepreneurship life.

Private Limited Company:

The advantage of this option is that you are likely to pay less tax. But it also depends on where you are located. Because you are subject to Corporation Tax, which will save you quite a lot of money in the long run.

It also makes you look a lot more professional. It can also help you to close more deals, because people in certain industries prefer to work with a private limited company than a self-employed individual. If you want to look more professional, then you should choose this route.

It will also make funding a lot easier, because banks will trust you more. So far now you can see that choosing this option has great advantages, and one of them is the funding.

And also there’s no excuse not to set up your private limited company, because it’s fairly easy. In the UK you can start it with merely 15 pounds, and let’s be honest: it’s dirt cheap.

In short: if you want to have an easier time with tax, look more professional and have no problems with funding, then you need to establish your own Private Limited Company. As we have said it’s cheap and fairly, so evaluate it and give it a try.

Self Employed:

Now it’s time to investigate about the benefits of being self-employed. It can also be an attractive option for many, and right here we will explain its benefits for you.

When you are self-employed you have less expenses, as you don’t have to time for pensions nor other corporate expenses presented by our previous option.

Another excellent advantage of being self-employed is that you don’t have be in a specific location, you can work remotely without problems.

And what about the professional image? It can be solved with a very solid portfolio. You can also set up your own website and have a blog where to share your knowledge, because this will portrait you as an expert, and people will want to work with you.

Another benefit brought by this lifestyle is that you don’t have to mess around with documents. With our previous option the hassle is not so big, but yet you will experience problems. So if you want to work stress-free and just care about your own stuff, it’s a lot better to choose to be self-employed, that may be your best pick.


5 Questions to Ask Your New Company Accountant

The accountant is a very important part of every company out there. If you want to hire the best one for yours, then you need to ask some questions which will show you if he’s worthy or not. These questions will bring you a clear image on who you are about to work with. And if you want to make your company successful, then you need to be very careful with this matter, and today on this article we are going to solve this for you, and bring you 5 powerful questions which will allow you to hire the best accountant for your company.

How Can I Contact You?

As we have said before, your account is a very important part of your company. So you need to have an easy way to contact him at any given time. You need to ask him what the best time to contact him is. Ask him to give you his or her email, along with a phone, cellphone and even a whatsapp number. You need to have many ways to communicate with your accountant, because there are many problems that can appear in the middle of the road, and you will need to contact him as soon as possible.

Can You Help Me With Tax Season?

Tax season can be quite a headache, so you need to ask him if he can help you to go through it, after all he’s the professional in the financial world. You need to talk about this with him seriously, because you can save a lot of money with proper assistance, and you must make sure that your accountant will be able to do it. Ask him how he can help you, so you can see if he’s saying the truth or lying.

How Can You Help My Business Grow?

Every person you hire for your company must add some value. And that includes your accountant. Cut off the fluff and ask him directly this question. If he responds very well, then he may be a good pick, because he knows what his worth is, and what his abilities are and how they can help your business grow. And this is excellent, because it means you are working with someone who really knows what he’s doing.

Can You Determine The Value of my Company?

Your accountant should be able to do this, because it’s part of his skills set. It’s also a nice question to set the pretenders out of the real deals. If he responds that he can, and explains you how he will do it, then he may be the accountant you are looking for.

Can You Give Me a Hand With Business Contracts?

Your account is your business partner, so more than once you will need his help with business contracts, you need to have him near and know that you can count on him. Ask him this and let yourself know if he’s someone you can rely on.

How Much Does It Really Cost to Develop an App for Your Business

Do you want to develop an app for your business? It’s a very good idea in fact, because in a world that moves towards the digital scene, it’s a good thing to have your business present in most scenarios, and that includes the digital world. Because thanks to this, you will be able to target your customers online.

But how much does it really cost? We will examine the costs, so you can start budgeting and see if it’s a viable project for you. Because it can be kind of expensive, but maybe this is what your business needs to move onto the next level.

We will talk about 2 types of apps:

  1. Table-based app
  2. Database app

These are the two more popular options. We won’t go in detail to explain how much it will cost in regards of a specific OS (Android, Windows, iOS, etc). We will just provide you with the bigger picture. Let’s start with table-based apps.

Table-based App:

This app allows you to show your business info in a professional, engaging and elegant way. This is perfect for businesses with many services. The developer will create many lists, so that once a client clicks on them, all the information that’s relevant will pop up and be brought to the client.

This is useful for a wide myriad of businesses, especially because it’s straight to the point, and as such the development costs range between $1k-2.5K dollars. We know that it’s not exceptionally cheap, but for a solid app, this is what you are expected to pay.

The dev can also add a list exclusively for offers that can be updated whenever you see is needed. An effective way to bring your potential customers a way to know more about your business in an app.

Database Apps:

This is for businesses that want to have a highly didactic and responsive app to represent their business. The price here is a bit more expensive, a developer will bill you around $8K-10K dollars depending on how complex it is.

This is recommended for businesses with such a big budget, for small businesses it’s honestly an overkill, because your customers are likely not to need this.

These apps, as its own name suggests, are powered and administrated by a database. The extra cost comes because the developer will have to set up different logical functions, and this comes attached to an extra big cost.

So, if you think your company needs to a very interactive app, then this is the way to go. As we have seen, it’s going to be a lot more expensive, but it can help you to get an edge over your competition, because this professional app will speak very well about your company.


This is what you should expect to pay, of course, the price can differ from developer to developer, and the OS you want it to work for. These are facts you need to consider.