Assuming its a small business, the first decision you should make is whether you want to be a Sole Trader or a LTD company.

A Sole Trader will have their personal assets liable if things don't work out and the business owe's money.

A LTD company will only have the business assets liable.

As far as I know a LTD company now only requires one director, this used to be a minimum of two.


The start up procedure is different for both, with the LTD company requiring more effort.