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Business Structure advice required
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gbt2001
Posts: 4 Newbie

Hi,
I am currently a sole trader.
My friend has been approached about taking over a shop & she would like me to go in with her as a partner.
The shop is an independent fundraising shop donating a % of profits to local charities. All items are donated goods.
If I were to do so, I would want it set up with a separate bank account etc (currently run by a sole trader so nothing to take over as such).
I have looked at ways to set up but am always stumped at what the best option would be.
My friend is not keen on setting up as a charity herself yet although this is a route I would be keen on later.
Any advice appreciated!
I am currently a sole trader.
My friend has been approached about taking over a shop & she would like me to go in with her as a partner.
The shop is an independent fundraising shop donating a % of profits to local charities. All items are donated goods.
If I were to do so, I would want it set up with a separate bank account etc (currently run by a sole trader so nothing to take over as such).
I have looked at ways to set up but am always stumped at what the best option would be.
My friend is not keen on setting up as a charity herself yet although this is a route I would be keen on later.
Any advice appreciated!
0
Comments
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Most local banks would open a business account for such a venture, and there is not much difference between them and what they offer to charities, so I'm not quite sure what the problem is.
I'd start by looking at which branches are convenient to get to, as presumably you will have cash to bank. Some will allow you to deposit cash at the Post Office, so that allows you to look slightly further afield.Signature removed for peace of mind0
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