Sole proprietor or company?
Think carefully about what form your business is to take. Do you want to be a sole proprietor or a company? What sort of company form is most appropriate for your business?
The major difference? A company is only liable for its assets. Your personal assets are therefore never at risk. As a sole proprietor there is no difference between your own assets and that of your business. You yourself are liable without limit. But it is obviously quicker and simpler to set up as a sole proprietor. A sole proprietor is also less subject to legal and administrative obligations.
How to choose between a solo proprietorship and a well-defined company form? We have outlined all the pros and cons for you.
- Advantages and disadvantages of a sole proprietor and company.
Your book-keeper, accountant, notary or lawyer will gladly give you additional advice.
- Federation of notaries: www.notaris.be
- Professional institute for certified accountants and tax-advisors: www.bibf.be
- Institute of accountants and tax consultants: www.iec-iab.be
- Order of the Flemish Bar Council: www.advocaat.be
