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Which Business Type for Startup?


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I’m in the process of launching a small startup business in the aromatherapy niche.

The project is on a shoestring budget so I’m watching every penny – it’s taken a lot of planning and sourcing but I’m on target!

Before everything goes live I’m trying to determine the best business type; I could stick with my sole trader approach (at least initially) but my concern is the liability factor (rather than the marketing optics). I’ve taken every precaution I can think of to ensure the safety of the product(s) being sold but that doesn’t guarantee an idiot doesn’t misuse the product and then (potentially) apportion blame.

My thought was to go the limited company (ltd) route but my concern with that (given my budget) is the setup and accountancy requirements for that business type.

Secondary to this, changing from a sole trader to a limited company would (I believe) also mean I would then presumably need to update all my packaging to reflect that the business providing the product(s) is a limited company.

Suggestions? Is it best to bite the bullet and just go the limited company route?

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