Business ownership within England and Wales

There are many ways in which a business may be owned under the legal system of England and Wales.

Different types of ownership are suitable for organisations depending on the degree of control the owners wish to have over the business. The choice of ownership method also relates to the organisations ability to raise funds for the business activities. The ownership method also alters the rules under which the company must be administered.

Because ownership is a key part of business planning, it is essential to take into consideration:

• The legal obligations for the owners.
• Appropriate insurance.
• Financial forecasting.

The three main forms of ownership for starting business are: Sole-trader, Partnership and Limited Company.