In the UK, starting a new company involves clicking through 8 webpages and paying £12.
This gives you huge financial protection in the form of limited liability and major tax benefits (pay tax on profits only not income).
Yet 92% of people never do this even once, throughout their entire lives?
🤔
Not easy to have a profitable business 😅. Is closing it also a breeze?
You can’t make £12?
For sure but the investment isn’t just £12. I guess I’m just trying to understand what you’re saying. Should everyone be attached an LLC at birth?
Can’t speak for LLC, but in the UK registering a limited company costs £12 takes 5 minutes to complete the form online and is processed within 5 days.
£12 is the only mandatory investment and it’s quite easy to make a £13 return over the course of a year and file a profit.
If you want to invest more then you are free to follow whatever business plan you like within the law.
I just find it kinda curious that more people don’t have a go.
