Limited company registrations have been increasing steadily in the UK over the last few years. In fact between July and September 2016 7,636 limited companies were incorporated, an increase of 5.2% when compared with the same period in 2015.*
Numerous factors will have played their part in this increase in the number of people choosing to set up a limited company. The difficult jobs climate during the recession, a change in our approach and attitudes to working, increasing demand for a flexible UK workforce have all contributed.
At Sterling we often work with contractors who have been registered on our umbrella scheme and decide they are ready to take the next step and move from operating as an umbrella worker to setting up their own limited company. Each individual has their own reasons for making the change. Some have dreamt of being their own boss others have looked at their finances and circumstances and calculated that they will be financially better off.
What are the advantages of registering you own limited company?
Whatever the reasons for considering registering as a limited company we can offer help and support to contractors with our Sterling Professional service.
Whilst there are advantages to operating a limited company it isn’t the right approach for everyone. Many of our contractors value the security and ease of working as an umbrella employee but for those who want to make the move to running their own company we are on hand to make the transition as smooth as possible. We can help with everything from initial incorporation to ongoing accountancy from accounting staff who specialise in dealing with contractors.
If you are considering setting up a limited company then do give us a call. We’d be happy to talk you through the process and discuss our Sterling Professional services with you.
*Source Companies House - Official Statistics - Incorporated companies in the UK: July to September 2016