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This short guide provides broad advice on the main legal requirements that will need to be complied with or considered on setting up a business in England and Wales.
Essentially, the main issues addressed are those of liability, capital commitment, business style and taxation. Some business models are better suited to certain types of businesses and each type has distinct advantages and disadvantages.
The principal forms of trading entities in the UK are partnerships, limited liability partnerships, private limited companies and public limited companies. There are other ways of doing business in the UK such as sole trader, franchising or licensing but these are not addressed in this guide.
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