New business - legal status advice required

gingernutbizkit

Hi all,

my wife and I are starting our own business and could really do with some help in regards to which legal status we go for. We were thinking of a straightforward partnership but are there any benefits from going for another option - social enterprise, Ltd company, CIC etc.

Our business will be about working with young people who are at risk of being excluded from school or kicked out of the homes (birth/foster/adoptive). We will work directly with the young people but also deliver training to the adults (foster parents, teachers, social workers etc) around them in how best to manage the young person's difficult behaviours.

We want to the company to make and spend money ethically but it also needs to pay our mortgage so that we can continue caring for our own foster children after they reach 18 (and their allowances stop).

Any advice is gratefully received.

Thanks, Ging

Annisele

Who will be paying for your services? I ask because in some industries, it's common for clients to have a preference - eg they won't contract with a sole trader, but they will with a limited company.