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CHOICE OF BUSINESS MEDIUM This essay shall consider the range of factors that will influence the choice of medium for a newly established business. Various factors need to be considered when deciding whether to set up as a sole trader, a partnership or company. You will make the choice when a new business is set up, but should keep the type of medium under review as the circs (and the law) change. Generally, each medium has some advantages and some disadvantages, so sometimes it can be a hard decision. We will consider: - risk of capital - expense - management - publicity - taxation - trading profits - interest relief - capital gains - inheritance tax - pensions and social security, and - raising finance 1) Risk of capital - all businesses involve a risk of capital, yet the degree of risk depends on: - the nature of the business, - the economic climate, and - the skill of those running the business. The...

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